AUSTIN, Minn.--(BUSINESS WIRE)--Hormel Foods Corporation (NYSE: HRL) today distributed its annual profit sharing of $17.8 million to eligible hourly and salaried employees during this 77th annual Thanksgiving Eve Day tradition.
"Our company has achieved seven consecutive years of record earnings," said Jeffrey M. Ettinger, chairman of the board and chief executive officer at Hormel Foods. "These results are due to the tremendous efforts of our dedicated employees year after year. We are proud to share in the success of our company with our team."
"Our employees continue to produce and deliver safe, wholesome and high-quality products to our customers and consumers," said James P. Snee, president and chief operating officer at Hormel Foods. "Our profit sharing program is unique within the industry, and it is truly gratifying to be able to share our success with the Hormel Foods 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.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace. The company is a member of the Standard & Poor's (S&P) 500 Index, S&P 500 Dividend Aristocrats for 2014, was named the 2013 Sustainable Supply Chain of the Year by Refrigerated & Frozen Foods magazine, and was again named one of “The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for the seventh year in a row. Hormel Foods was also recognized as a 2015 Military Friendly Employer by G.I. Jobs magazine, on the 2015 Best for Vets Employers List by Military Times, and was named one of the 2015 40 Best Companies for Leaders by Chief Executive magazine. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit http://www.hormelfoods.com.