Publix Stock
Publix stock is restricted: it can only be owned by current or former associates or board members and cannot be sold outside the company without first being offered to the company for repurchase.
Publix offers stock to its associates through 3 programs: Profit plan (ESOP), Purchase plan, and 401(k) plan. The profit plan generally gives an associate who has worked 1000 hours in an anniversary 7-10% of the regularly pay earned in the form of free stock the following March 1. An associate must work three years to be vested in the plan. The plan is at no cost to the associate.
Publix associates may buy the stock outright in the Purchase plan, however there is a 6 month restriction on buying stock once it is sold.
Publix matches 50% of 3% of eligible wages through the 401(k) plan, up to $750 per year in matched contributions.
In addition, Publix offers stock to its Board of Directors through a separate plan.
The stock pays an annual dividend on June 1. The dividend has been steadily increasing since 2000 and yields just under 3% as of June 2010.
The stock was made available to associates in the late 1950s, priced at $2.50 per share. Discounting all splits, one share of Publix stock in 1958 would be worth $22,050 in August 2011 (not including dividends). The stock has a compound annual growth by a rate of 19% from 1958 to 2010. The S&P 500 has a CAGR of 10% in the time period. The price of Publix stock (as of August, 1 2012 based on an assessment by the Board of Directors) is $22.00.
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