Hormel Foods Distributes Annual Profit Sharing
A record amount of more than $16.9 million distributed in the 74th consecutive year of the program
AUSTIN, Minn.--(BUSINESS WIRE)-- Hormel Foods Corporation (HRL) today distributed its annual profit sharing of more than $16.9 million to eligible hourly and salaried employees during this 74th annual Thanksgiving Eve Day tradition.
Our record year in net sales and earnings is a testament to our hard working and dedicated employees, said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. We are honored to be able to once again provide this benefit to our employees in recognition of their tireless efforts to drive our business forward.
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 companys 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 Dividend Aristocrats for 2012, Maplecroft Climate Innovation Indexes, Global 1000 Sustainable Performance Leaders and was again named one of "The 100 Best Corporate Citizens by Corporate Responsibility Magazine for the fourth year in a row. Hormel Foods debuted on the G.I. Jobs magazine list of Americas Top 100 Military Friendly Employers in 2012. 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.
Julie H. Craven, 507-437-5345
Source: Hormel FoodsCopyright Business Wire 2012