Hormel Foods ( HRL) is another food stock that looks likely to boost its dividend payout in the next quarter. Right now, Hormel pays a 15-cent per share payout that equates to a 2% dividend yield at current price levels. Like Campbell Soup, Hormel is a diversified food manufacturer with brands like Jennie-O and Country Crock under its belt. But despite the diversification, at the end of the day, Hormel is a meat company. The firm is a major turkey and hog processor, but they've avoided the lion's share of input costs by embracing vertical integration. Since HRL itself raises the animals that it sells on grocery shelves, it's able to save costs and absorb more inflation in its cost of goods sold without impacting its selling price. The food processing business is capital intense, but Hormel is in strong shape. The firm has close to a billion dollars in cash and investments, easily offsetting a $250 million debt load. That abundance of balance sheet liquidity helps to ensure that the firm can continue to pass on more cash to its investors in the coming quarters. Like CPB, Hormel announces its numbers on Nov. 20. To see these dividend plays in action, check out the at Dividend Stocks for the Week portfolio on Stockpickr. And if you haven't already done so, join Stockpickr today to create your own dividend portfolio. -- Written by Jonas Elmerraji in Baltimore.