Hormel Foods Stockholders Approve Increase in Authorized Shares to Effect A Stock Split

Jan 26, 2000, 00:00 ET from Hormel Foods

    AUSTIN, Minn., Jan. 26 /PRNewswire/ --
 Hormel Foods Corporation (NYSE:   HRL), multinational marketer of
 consumer-branded meat and food products, today announced stockholder approval
 of splitting the par value of the company's common stock, from $.1172 to
 $.0586 per share, and increasing in the number of authorized shares from
 200 million to 400 million.  This action, authorized at the company's Annual
 Meeting of Stockholders on Tuesday, January 25, executes a two-for-one stock
 split first approved by the company's Board of Directors on November 22, 1999.
     Stockholders of record at the close of business on January 25, 2000, will
 receive one additional share of common stock for each share owned on that
 date.  Under the rules of the New York Stock Exchange (NYSE), where the
 company's common stock is traded, in the event shares are sold between
 January 25 and the planned February 15, 2000, distribution date for new
 shares, the selling stockholder is responsible for delivering the new shares
 received to the buyer.
     V. Allan Krejci, vice president of public relations, emphasized
 stockholders of record on January 25 should retain the shares they presently
 hold and can expect to receive an equal number of additional shares generated
 by the stock split by mail shortly after February 15.  Krejci noted that the
 annual dividend rate, when adjusted for the two-for-one split, will be
 $.35 per share.

SOURCE Hormel Foods