NEW YORK, Dec. 13, 2010 /PRNewswire-FirstCall/ --
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NEWS: Hormel Foods Announces Two-For-One Stock Split
FORMAT: B-roll and Soundbites
Hormel Foods Corporation (NYSE: HRL) today announced its Board of Directors has authorized a two-for-one split of the company's common stock. This would be the first split in 10 years and the 9th in company history.
Stockholder approval of the stock split is required during the company's Annual Meeting being held on Monday, Jan. 31, 2011. Under the proposal, the number of authorized shares of voting common stock would increase from 400 million to 800 million.
The Board of Directors established Jan. 31, 2011, as the record date for stockholders who will be entitled to receive the split shares. One additional share of common stock will be issued to stockholders around Feb. 14, 2011, for each share of common stock they hold on the record date.
- Jeffrey M, Ettinger - Chairman of the Board, President & CEO, Hormel Foods
B-ROLL INCLUDES: Shots of various Hormel Foods products** Footage of today's announcement at the corporate headquarters**Visual of a timeline of the company's previous stock splits
VIDEO PROVIDED BY: Hormel Foods Corporation
SOURCE Hormel Foods Corporation