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 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/.