SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 25, 1996
HORMEL FOODS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-2402 41-0319970
(Commission File Number) (IRS Employer Identification Number)
1 Hormel Place, Austin, Minnesota 55912
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (507) 437-5737
Pages: This report contains three (3) pages numbered sequentially from
this cover page.
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Item 5. OTHER MATERIALLY IMPORTANT EVENTS
March 25, 1996
The Company's Board of Directors has authorized a repurchase of up to
five million shares of Hormel Foods Corporation common stock.
Purchase of the full amount would equal 6.5 percent of the 76,852,128
shares issued. The program will be accomplished through periodic
purchases at prevailing prices on the open market, by block purchases
or in privately negotiated transactions. The Company intends to use
excess cash to fund the repurchase of shares which may then be retired
or retained as treasury stock.
The Company considers the repurchase program to be an excellent way to
use a portion of the cash accumulated from operations to increase
value to shareholders.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this Report
to be signed on its behalf by the undersigned thereunto
duly authorized.
HORMEL FOODS CORPORATION
(Registrant)
By
D. J. HODAPP
Executive Vice President
and Chief Financial Officer
By
M. J. McCOY
Treasurer
Dated: ____________________
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