Hershey resumes dividend growth after nearly 2 years, signaling improved earnings and cash flow.

Hershey froze its quarterly dividend for five cycles from early 2024 to late 2025 due to sharp declines in net and operating income caused by high cocoa costs and tariffs. Starting February 2026, the company raised its dividend to $1.452 per share, reflecting renewed confidence backed by better-than-expected earnings growth and margin expansion in 2026. Investors should watch cocoa prices, salty snacks margins, and upcoming dividend declarations to see if this growth continues. The stock remains below analyst targets, indicating cautious market sentiment despite the dividend increase.