Hormel Foods Corp. said late Monday it will increase its annual dividend by 17% to 68 cents a share. Its board of directors authorized the first quarterly dividend of 17 cents a share to be paid on Feb. 15 to shareholders of record Jan. 17. Shares of the Austin, Minn., food company rose 0.2% in late trading after ending the regular trading day down 1.8%. Hormel earlier Monday had announced it was selling Clougherty Packing LLC, parent company of Farmer John and others, to Smithfield Foods Inc. for $145 million.
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