Hershey's Major Shareholder Continues Selling Shares… Sells Portion of Holdings

The Hershey Trust Company executed a series of open-market sales of The Hershey Company (NYSE: HSY) common shares over roughly ten days in early April. In three tranches—April 6–8, April 9–10 and April 13–15—the trust sold approximately 70,000 shares, raising about $16 million (around ₩200 billion) in cash. While its direct holdings of common stock declined slightly, its total economic interest, including convertible Class B shares, remains about $11.5 billion (roughly ₩16 trillion).

Meanwhile, Hershey’s board has approved its regular quarterly dividend on both common and Class B shares, with a record date of June 15 for dividend payment. The company is also experiencing executive changes: Andrew Aschambo, President of U.S. Operations, left the company effective May 1.

Founded in the early 1900s, Hershey is one of America’s leading chocolate and snack manufacturers and a major consumer packaged goods company, owning global brands such as Kisses and Reese’s. As trustee of the Milton Hershey School Trust, the Hershey Trust Company has maintained a long-term stake in Hershey’s equity, using dividends and investment income to support the education of underprivileged children.