> Our branded packaged foods and value-added protein products and services satisfy customers, build competitive advantage, balance the effects of changing raw materials markets, and contribute to steady, growing returns for our shareholders. 14 Hormel Foods Corporation One of the best measures of our consistency is total return, which expresses the cumulative growth a shareholder experi- ences over time through stock appreciation and the growth  of reinvested dividends. A 1999 investment of $100 in our common stock grew to $142 by 2004 – up 42 percent,  compared with an 11 percent loss for the S&P 500 and 36  percent gain for the S&P Packaged Foods and Meats Index. returning steady, long-term growth we’re serving up balanced business,  sound governance,  and great returns