Welcome to the Fall 2024 edition of The ESOP Builder — an internal publication for employees of JE Dunn. Our goal remains to keep everyone informed about our Employee Stock Ownership Plan and how the program directly impacts you as an employee owner of JE Dunn.
This edition of The ESOP Builder includes a spotlight on an Advanced Facilities Group project in from our Phoenix office, a look at JE Dunn’s ESOP Month celebrations, a story on the history of our ESOP, and more. A complete set of all ESOP information can be found on Connect. If you have ESOP questions that you cannot find answers to, please direct them to Anne Wright.
We are always looking for suggestions for The ESOP Builder content and ways to improve this publication. Please send feedback and ideas to Ben Hobbs.
October is Employee Ownership Month! Our headquarters at the Kansas City office kicked off Employee Ownership Month with an ESOP discussion and breakfast featuring eggs, sausage, orange juice, and pancakes (ESOP) on Oct. 1. Our ESOP Advisory Committee met on Sept. 30 with our ESOP trustee and valuation firms to kick off our annual valuation process. As a reminder, TI-Trust serves as our ESOP trustee, and they engage Stout to complete the annual valuation for the JE Dunn Construction Group shares that are held by the ESOP trust. The valuation process will be completed in early January 2025, and the share price will be communicated shortly thereafter.
Construction revenue for the year is currently forecasted at $7.8 billion compared to the 2023 construction revenue of $6.5 billion. Operating income as a percentage of construction revenue is currently forecasted at 2.17%, compared to 1.67% in 2023. Earnings before taxes as a percentage of construction revenue (return on revenue) are currently forecasted at 2.84% for 2024, compared to 2.92% in 2023.
The Board of Directors approved two dividends in 2024: $1.17 per share in June and $0.25 per share in September.
Thank you for your hard work and dedication to our JE Dunn team. As we close out our last three months of 2024, focusing on our KSIs — especially KSI 4, Best People + Right Culture, and KSI 6, Operational Excellence — will ensure a successful year financially.
“Having a set of shared values is what allows people to come together and share a common culture, but at the same time be themselves in a way to support the company. Through emphasizing our shared values and individual talents, teams can achieve their goals and support each other. Knowing that you can be yourself and find a way to authentically provide what you want to do and how you want to care for your families and at the same time help the company succeed is really at the heart of what JE Dunn is about.”
91% of ESOP workers feel they can live comfortably in retirement compared to only 49% of non-ESOP retirees.
Employees at ESOP companies tend to earn higher wages and have greater savings than their peers in non-ESOP companies.
There are roughly 6,500 ESOP companies in the United States, covering around 14.7 million participants.
