The Board of Directors of Hormel Foods Corp. declared a regular quarterly dividend of 12.75 cents per share on the common stock of the corporation.

The dividend is to be paid May 15 to stockholders of record at the close of business on April 23. The previous quarterly dividend, which was announced in November, 2010, and occurred prior to Hormel’s two-for-one stock split in December, was 25.5 cents. That dividend was paid in February.

According to Julie Craven, vice president of corporate communications, the quarterly dividend rate was adjusted to reflect the company’s stock split.