DATE RELEASED: 08/03/20

Our recent ESOP Topics Survey gathered data from 160 ESOP companies on how they're handling the COVID-19 crisis and other issues, including questions about their turnover rates in 2019. The surveyed ESOP companies reported dramatically lower turnover than overall national averages. This difference persisted at the industry level in each of the industries with enough data to make comparisons: wholesale trade, manufacturing, and construction ESOP companies had turnover rates less than half of...

DATE RELEASED: 07/14/20

The Board of Directors of The Procter & Gamble Company (NYSE:PG) declared a quarterly dividend of $0.7907 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after August 17, 2020 to Common Stock shareholders of record at the close of business on July 24, 2020, and to Series A and Series B ESOP Convertible Class A Preferred Stock shareholders of record at the start of business on July 24, 2020.

This...

DATE RELEASED: 07/08/20

MALTA — Stewart's Shops said Tuesday it distributed an additional Employee Stock Ownership Plan dividend to its participating employees. The amount represents 4.5 percent of employees' ESOP balance at the end of 2019.

The company said the employees, which it calls Partners, can either take the dividend as a cash payout or roll it over into their ESOP account. Stewart's said that 90 employees companywide have ESOP balances exceeding $1...

DATE RELEASED: 07/07/20

A local software company is now owned by its employees.

Caesar Creek Software, a Miamisburg-based firm that provides research and development services to the federal government and defense contractors, has been sold to an employee stock ownership plan, or ESOP. Terms of the transaction were not disclosed.

The sale means Caesar Creek staff have an ownership stake in the company, which could help bolster the firm's efforts to retain and recruit...

DATE RELEASED: 06/29/20

When the COVID-19 pandemic hit, Orem, Utah-based Mountainland Supply President and CEO Brent Anderson quickly went on the offensive.

And the No. 1 goal: Keep Mountainland Contractors Supply Group (the holding company that Mountainland Supply is part of) and its 470 employee [owners] strong so it can continue providing top-notch service to customers throughout the distributor's 25 locations in Utah, Idaho and Wyoming.

A prime example, Anderson notes, included a senior-management...

DATE RELEASED: 06/25/20

After the bruising crises we're now going through, it would be wonderful if we could somehow emerge a fairer nation. One possibility is to revive an old idea: sharing the profits.

The original idea for businesses to share profits with workers emerged from the tumultuous period when America shifted from farm to factory. In December 1916, the Bureau of Labor Statistics issued a report on profit-sharing, suggesting it as a way to reduce the "frequent and often violent disputes" between...

DATE RELEASED: 06/15/20

A Memphis-based third-party logistics provider is now fully run by its employees.

...

DATE RELEASED: 05/20/20

The principals of Pilot Hill Advisors, a national ESOP advisory firm, are pleased to announce that a Long Island-based client successfully completed a second-stage ESOP buyout.

Our client completed a 30% ESOP sale several years ago to begin his ownership transfer. He decided to start with a small ESOP sale to first "see how it worked." After repaying the debt associated with this initial transaction, he sold another 40%, taking the ESOP's ownership up to 70%.

The sale was...

DATE RELEASED: 05/20/20

Fewer than one in 200 American companies are eligible to join Certified EO.

KENT, Ohio – The Davey Tree Expert Company recently announced that it has partnered with Certified Employee-Owned (Certified EO), a certification program for employee-owned companies in America.

"As one of the oldest employee-owned companies in North America, Davey Tree is excited to partner with Certified EO," said Pat Covey, Davey's chairman, president and CEO...

DATE RELEASED: 05/14/20

Doug Bawel, Jasper chairman and CEO, announced a new all-time record year in revenue, income and EBITDA. He thanked all 3,000+ associate owners for making the past year such a great success.

A total of $17+ million in new shares were distributed to over 2,500 eligible associate-owners. Over the last 10 years, a total of $191 million in stock has been given to associate owners.

The share value continued its upward growth since the...

Pages

Subscribe to Pilot Hill Advisors News