Publix announces 2019 PROFIT Plan results
March 03, 2020
Publix is pleased to announce its PROFIT Plan contribution is 8% of eligible wages for the 2019 plan year. This means each eligible associate received a new contribution of Publix stock to their PROFIT Plan account valued at 8% of their eligible wages.
Over 139,000 full- and part-time associates shared in Publix’s contribution to the PROFIT Plan for the 2019 plan year. The value of the average contribution was approximately $2,700 per associate. This contribution was made by Publix at no cost to our associates.
“As we celebrate our 90th anniversary, I’m proud of our company’s longstanding commitment to contributing to our PROFIT Plan,” said Vice President of Benefits Administration Linda Kane. “For 90 years, we’ve carried on Mr. George’s legacy of company ownership and investing in our associates. Our PROFIT Plan continues to successfully perpetuate our culture of company ownership.”
Associates can view their PROFIT Plan account balance by visiting Publix Stockholder Online or the 401(k) SMART Plan website.
In addition to the Publix contribution, the value of Publix stock increased 14% for the 2019 plan year, excluding dividends. This percentage is based on the $6.05 increase (from $42.85 per share to $48.90) in the Publix stock valuation for the fiscal fourth quarter ended Dec. 29, 2018 (stock valuation effective March 1, 2019), through the fiscal fourth quarter ended Dec. 28, 2019 (stock valuation effective March 1, 2020).
Over the last 10 years, the growth of Publix stock has averaged 11% per year (excluding dividends and determined as of March 1, 2020). Please remember, past performance is no guarantee of future results.