Hormel distributes annual profit sharing
Published 9:01 am Friday, November 23, 2018
Hormel Foods Corporation, a global branded food company, distributed its annual profit sharing of $17.9 million to eligible hourly and salaried employees on Wednesday during its 80th annual Thanksgiving Eve Day tradition.
“Our profit sharing program remains unique in our industry, and we are proud to be able to share our continued success with our more than 20,000 inspired team members who work tirelessly to deliver outstanding branded food products to millions of consumers each year,” said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. “It is this dedicated team that helps ensure we remain one of the most trusted and successful global branded food companies. We wouldn’t be the company we are today without all of them.”
The profit sharing program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the company’s Board of Directors.
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Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $9 billion in annual revenues across more than 80 countries worldwide. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of “The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for the 10th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts.