Jasper Holdings announced record holdings for associate owner shareholders in the company's Employee Stock Ownership Plan (ESOP) during a presentation last week.
Jasper Holdings CEO and Chairman Doug Bawel announced April 27 a new all-time record price of $873.48 per share based on their performance and market conditions.
“This is up $99.10 per share, a 12.84% increase in a very turbulent 2022 with inflation, increased interest rates, and a down stock market,” says Bawel. “When the stock market declined 15-20% in 2022, and we are up 12.8%, that’s Awesome! A total of 37,291 new shares were distributed, bringing the total ESOP value allocated to shareholders to over $447 Million in current value since its inception in 2009.”
Bawel adds Jasper's ESOP “has truly been a game changer for our Associate-Owners in their retirement strategy. We have a total of 2,641 active Associate-Shareholders today; 1,083, or 35% of those, have greater than $100,000 in stock, and 1,576, or 51%, have greater than $50,000.”
And those totals are in addition to the company's matching 401k retirement plan, which has over $258 Million invested in a fully funded trust, Bawel says.
“Today, our market capitalization is in excess of $1.257 Billion, a $143 Million increase over 2021,” he says. “This is Awesome! Our Jasper family has been truly blessed by great customers who have been patient through these material and labor shortages.”
He adds, “Our success directly reflects our Associate-Owners and their commitment to Do it Right in these challenging times. We have been Blessed with great Associate-Owners who have continued to stay focused on what is in our control; a never-ending commitment to improvements in Safety, Quality, Productivity, Customer Service, and Reduction of Waste.”