Sharing Success: Hormel Foods Distributes Annual Profit Sharing
Hormel Foods Corporation (NYSE:HRL) today distributed its annual profit sharing of nearly $17.4 million to eligible hourly and salaried employees during this 76th annual Thanksgiving Eve Day tradition.
“Six consecutive years of attaining record earnings is due to our hard-working employees and their commitment to delivering trusted, high-quality products to our consumers,” said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. “We are proud to share the success of our company with our team.”
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.