Hormel Stockholders have a Reason to be Merry - KTTC Rochester, Austin, Mason City News, Weather and Sports

Hormel Stockholders have a Reason to be Merry

AUSTIN, Minn. (KTTC) -- If you have stock in Hormel, you're in luck. Monday its Board of Directors authorized a two-for-one split of the company's common stock, meaning whatever shares you now own, could double in 2011.

The decision to split the stock came after more than a decade of continual sales growth. This will be the first split in 10-yearS, and the 9th ever in the company's history. The company's CEO said he hopes it will allow more people to invest in Hormel.

"In terms of new shareholders it will establish a price that will probably be more in that mid $20 range that will allow more people to participate as owners of our company," said Jeffrey Ettinger.

Stockholders will decide whether or not to approve the two-for-one stock split at a January 31st, meeting.

Powered by Frankly