$17.5 million distributed in the 78th
consecutive year of the program
AUSTIN, Minn.--(BUSINESS WIRE)--
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 ThanksgivingEve 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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Hormel Foods Corporation
Richard M. Williamson
media@hormel.com
Source: Hormel Foods Corporation