Hormel Foods Distributes Annual Profit Sharing
Hormel Foods Corporation (NYSE: HRL) today distributed its annual profit sharing of $17.5 million to eligible hourly and salaried employees during this 78th annual Thanksgiving Eve Day tradition.
“For the eighth consecutive year, our company has achieved record earnings,” said Jim Snee president and chief executive officer at Hormel Foods. “We are proud to share the success of our company with the inspired people of Hormel Foods. Our profit sharing program is unique in the industry, and we are happy to be able to celebrate our continued success with our hard working employees.”
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.