Dot Foods, a food industry redistributor, will pay a $500 bonus to each of its full-time employees in the wake of the federal tax overhaul passed late last year.
Approximately 4,800 full-time employees from all 12 Dot locations in the U.S. and both Dot Foods Canada locations will receive the one-time bonus in mid-March. Those who were employed with Dot and Dot Transportation at end of 2017 are eligible.
“We’re really happy to be able to give this bonus to our employees,” said Dot Foods CEO Joe Tracy. “We surprised them by announcing the bonus during our National Business Meeting in St. Louis, MO, in late January. Our people are Dot’s greatest asset, and the tax reform bill offered a great opportunity to reinvest in our employees.”
The 2017 Tax Cuts and Jobs Act lowered the federal corporate tax rate from 35% to 21% when President Trump signed it onto law in December. The bill also changed the way companies that operate internationally are taxed.
“The tax legislation is good news for Dot and many other companies,” Tracy said. “It’s going to put us in a better position to compete internationally and continue to invest in our business. We owe our continued growth and success to our employees. Their hard work every day makes it possible, so it was an easy decision to recognize their efforts with this bonus when the opportunity arose.
The tax reform bonus will be paid in addition to Dot’s regular bonus structure for employees. The company, founded by Robert and Dorothy Tracy in Mt. Sterling, IL, in1960 remains family-owned and -operated today; sales hit $7 billion in 2017.