Hormel Foods Distributes Annual Profit Sharing
November 23 2016 - 8:00AM
Business Wire
$17.5 million distributed in the 78th
consecutive year of the program
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.
About Hormel Foods – Inspired People. Inspired
Food.™Hormel Foods Corporation, based in Austin, Minn., is a
global branded food company with over $9 billion in annual revenues
across 75 countries worldwide. Its brands include SKIPPY®, SPAM®,
Hormel® Natural Choice®, Applegate®, Justin’s®, Wholly Guacamole®,
Hormel® Black Label® and more than 30 other beloved brands. 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 eighth year
in a row, and has received numerous other awards and accolades for
its corporate responsibility and community service efforts. In
2016, the company celebrated its 125th anniversary and announced
its new vision for the future - Inspired People. Inspired Food.™ -
focusing on its legacy of innovation. For more information, visit
www.hormelfoods.com and http://2015csr.hormelfoods.com/.
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version on businesswire.com: http://www.businesswire.com/news/home/20161123005099/en/
Hormel Foods CorporationRichard M.
Williamsonmedia@hormel.com
Hormel Foods (NYSE:HRL)
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