Hormel Foods Corporation (NYSE: HRL), a global branded food company, today distributed its annual profit sharing of $17.9 million to eligible hourly and salaried employees during this 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.