Hormel Hands Out $16.3M In Profit-Sharing Checks

AUSTIN, Minn. (AP) — Hormel Foods Corp. has distributed a record $16.3 million in profit-sharing to its plant employees, including workers at its Austin plant.

The Austin-based maker of Spam and Dinty Moore canned beef stew passed out the bonus checks during its 72nd annual profit-sharing day Wednesday.

Checks were compiled based on 2.2 regular week’s pay.

Hormel employee Maribel Mendoza tells the Austin Daily Herald the money helps out a lot with bills and Christmas shopping.

Hormel said this week that its fourth-quarter net income rose 17 percent on better prices for turkey and lower grain costs.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Kyle.H

    bout time they give back to us workers

  • http://hub.tld30.com/pubsub/hormel-hands-out-16-3m-in-profit-sharing-checks/ Hormel Hands Out $16.3M In Profit-Sharing Checks | TLD30.com PubSub Hub

    […] CBS Minnesota – News, Sports, Weather, Traffic, and the Best of Minnesota Free Short URL Service – Get TLD30 Short […]

  • yo

    Wish Boston Scientific would do this

  • Chris

    Thats because the Prison population is up, and them Gov contracts are great.

  • Sharon Bowers

    Way to go Hormel! More companies need to follow your lead.

  • http://heavytable.com/the-thanksgiving-news-recap/ The Thanksgiving News Recap | The Heavy Table - Minneapolis-St. Paul and Upper Midwest Food Magazine and Blog

    […] “Drink Like an Indian” Thanksgiving promotion went over rather poorly, Hormel handed out $16.3 million in profit-sharing checks to employees, some deer got shot, gutted, and processed,  some food-focused Thanksgiving thanks, […]

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