By Trisha Marczak, staff writer

AUSTIN — On the heels of a record breaking $7.2 billion year in sales, Hormel Chairman of the Board Jeffrey M. Ettinger announced Monday the company will undergo a two-for-one stock split.

The split, pending stockholder approval, will move the company into a more favorable position in the world of stock markets, as the cost of each share will now decrease. It’s good news for the company, as shares in the company will appeal to a wider audience, including individual investors.

For stockholders, the value of overall shares will remain the same, though individual shares will essentially double. It may also give current shareholders insight into the future of Hormel.

The final word on the split will be given after the company’s annual meeting on Jan. 31, where stockholders will have the opportunity to approve the move.

Ettinger cited the company’s strong performance over the last decade as a driving force behind the split.

But past success wasn’t the only reason Ettinger noted.

Looking ahead, Ettinger said the company is confident that business will continue to grow. While the company has continued to carry the classic pork items that made Hormel famous, it has also picked up a number of lines, including pepperoni products, which have proven successful.