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Strategies & Market Trends : Dividend investing for retirement
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To: Triffin who wrote (13137)11/20/2012 8:24:49 AM
From: Triffin  Read Replies (2) of 34328
 
HRL boosts dividend payout for 47th consecutive year ..

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Hormel Foods reports EPS in-line, misses on revs; guides FY13 EPS in-line; increases dividend ( HRL) 31.30 : Reports Q4 (Oct) earnings of $0.49 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.49; revenues rose 3.1% year/year to $2.17 bln vs the $2.23 bln consensus. Co issues in-line guidance for FY13, sees EPS of $1.90-2.00 vs. $1.95 Capital IQ Consensus Estimate.
  • Dollar sales of $2.2 billion, increased 3 percent; volume up 2 percent.
  • The Grocery Products segment profit increased 22 percent, led by strong sales of the SPAM family of products and the portfolio of products within our MegaMex Foods joint venture.
  • Outlook: "We expect to deliver sales and earnings growth in fiscal 2013. In particular, we are looking for our Refrigerated Foods, Grocery Products, Specialty Foods and All Other (International) segments to drive profit growth in fiscal 2013, as our Jennie-O Turkey Store segment goes up against higher grain costs and historically high results. We plan on making additional cuts to both our turkey and pork harvest levels during fiscal 2013, to reduce our exposure to volatile commodity markets."
  • Co announced its 47th consecutive annual dividend increase. The annual dividend on the common stock of the corporation was raised to $0.68/share from $0.60/share. Quarterly dividend increased to $0.17/share from $0.15/share.
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Triff ..
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