Hershey has resumed dividend growth, lifting its quarterly payout to $1.452 per share starting with the February 17, 2026 ex-date after holding it flat at $1.37 for five consecutive quarters from February 2024 through November 2025. The increase followed a brutal stretch for the confectioner: full-year 2025 net income fell to $883.3 million from $2.22 billion in 2024, operating income dropped to $1.42 billion from $2.90 billion, and adjusted EPS slid roughly 36% to 37% to $6.31, pressured by record cocoa costs and $160 million to $170 million in tariff expenses. The recovery has been sharp, with Q1 2026 adjusted EPS of $2.35 beating the $2.05 estimate on revenue of $3.10 billion, and Q2 2026 adjusted EPS of $1.90 beating the $1.43 estimate on revenue of $2.79 billion, while adjusted gross margin expanded 350 basis points to 41.6%. Full-year 2026 guidance calls for adjusted EPS of $8.36 to $8.52, implying 32.5% to 35% growth off the 2025 base, and CFO Steve Voskuil told investors on the July 30 call that the company has good visibility into cocoa deflation next year. The stock closed at $173.32 on September 11, down 2.62% year to date and well below the analyst target price of $205.52, and the next board declaration this fall will show whether the resumption becomes a trend or the freeze story remains live.
Hershey CoHershey resumed dividend growth, raising its quarterly payout to $1.452 per share after five flat quarters.
