More than $16.5 million distributed in the 73rd consecutive year of the program
AUSTIN, Minn., — Hormel Foods Corporation (NYSE: HRL) on Wednesday distributed its annual profit sharing of more than $16.5 million to eligible hourly and salaried employees during this 73rd annual Thanksgiving Eve Day tradition.
“We are honored to again recognize our employees for their contributions to a record year in net sales and earnings,” said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. “It is gratifying to be able to provide this benefit to our hard-working employees who are committed to delivering great-tasting products to consumers around the world.”
Hormel Foods, a multinational marketer of consumer-branded food and meat products, continues to be among an elite group in the industry for retaining its profit sharing plan. The program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the company’s Board of Directors.