The Board of Directors of Hormel Foods, a global branded food company, today announced a 5 percent increase to the annual dividend to shareholders, marking the 55th consecutive annual dividend increase. The annual dividend on the common stock of the corporation was raised to $0.98 per share from $0.93 per share. The Board of Directors authorized the first quarterly dividend of 24.50 cents a share to be paid on Feb. 16, 2021, to stockholders of record at the close of business on Jan. 11, 2021. The Feb. 16 payment will be the 370th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend without interruption.
Alamos Gold today announced that the Company's Board of Directors has declared a quarterly dividend of US$0.02 per common share. As announced in October 2020, the Company has increased its quarterly dividend by 33% to an annual rate of US$0.08 per common share. The increase reflects the Company's strong free cash flow outlook following the completion of the lower mine expansion at Young-Davidson in July 2020. The Company has paid dividends for 11 consecutive years during which time $187 million has been returned to shareholders through dividends and share buybacks. The dividend is payable on December 21, 2020 to shareholders of record as of the close of business on December 7, 2020. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes.
Genuine Parts announced today that its Board of Directors declared a regular quarterly cash dividend of seventy-nine cents per share on the Company's common stock. The dividend is payable January 4, 2021 to shareholders of record December 4, 2020.
The York Water Company's President and CEO, JT Hand, announced today that the Board of Directors declared a quarterly dividend of $0.1874 per share, a 4% increase, at their November meeting held earlier today. The dividend is payable January 15, 2021 to shareholders as of record date December 31, 2020. This is the 600th consecutive dividend to be paid by The York Water Company and is the twenty-fourth consecutive year that the Company has increased its dividend. York Water, which is the oldest publicly traded company in the nation, has never missed a dividend in over 200 years. This is believed to be the longest record of consecutive dividends in America.
The Board of Directors of Heartland Express announced today the declaration of a regular quarterly cash dividend. The $0.02 per share dividend will be paid on December 18, 2020 to shareholders of record at the close of business on December 8, 2020. We currently estimate that a total of approximately $1.6 million will be paid on the Company's 80.8 million shares of common stock. This is the Company's seventieth consecutive quarterly cash dividend. With the payment of this dividend, the Company will have paid a total of $490.4 million in cash dividends, including three special dividends since the dividend program was implemented in the third quarter of 2003.
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