AUSTIN, Minn. (AP) -- Hormel Foods Corp. is continuing its popular Thanksgiving tradition -- giving its employees a share of the corporate profits.
The Austin, Minn.-based meatpacker said Wednesday that because of its record profits in 2012, eligible hourly and salaried employees will be sharing $16.9 million in profit-sharing checks.
The company didn't immediately return a message asking how many employees would receive checks and whether the money would be distributed equally.
A St. Paul Pioneer Press report says Hormel began its profit-sharing program in 1938 and has continued in each of the past 74 years.
The company produces familiar brands such as Spam, Hormel chili, Jennie-O turkey and Dinty Moore stew.
Hormel reported this week that its full-year net income climbed 6 percent to $500.1 million. Annual revenue was up 4 percent.
All content © Copyright 2000 - 2013 WorldNow and WXOW. All Rights Reserved.
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Theresa Wopat at 507-895-9969. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at email@example.com.