the esop builder

we are employee-owners.
Volume 29
October 2023


Welcome to the 29th edition of The ESOP Builder – an internal publication only for the employees of JE Dunn Construction. Our goal remains to keep everyone informed about the Employee Stock Ownership Plan and how the program impacts you as an employee-owner of JE Dunn.

This edition of ESOP Builder includes a spotlight on a JE Dunn Healthcare project in San Antonio, a look at celebrating ESOP Month at JE Dunn, a spotlight on an employee-owner who wears many hats in the Midwest, 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 Keli Schneider.

From the CFO

By Beth Soukup

October is Employee Ownership Month! Our headquarters and the Kansas City office kicked off Employee Ownership Month with an ESOP discussion and breakfast featuring eggs, sausage, orange juice and pancakes on Monday, October 2. Our ESOP Advisory Committee met on October 5 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 mid-January 2024, and the share price will be communicated shortly thereafter.

Construction revenue for the year is currently forecasted at $6.3 billion compared to 2022 construction revenue of $5.8 billion. Operating income as a percentage of construction revenue is currently forecasted at 1.60% compared to 1.98% for 2022. Earnings before taxes as a percentage of construction revenue (return on revenue) is currently forecasted at 2.88% for 2023 compared to 2.47% for 2022. The primary driver of the increase in return on revenue percentage for 2023 is a realized gain on an investment in our captive insurance company, William Henry Insurance.

The Board of Directors approved a $1.42 per share dividend on September 14, 2023, and a $.99 per share dividend on June 20, 2023.

Thank you for your hard work and dedication to our JE Dunn team. As we close out 2023, focusing on our KSIs, especially KSI #4: Best People + Right Culture and KSI #6: Operational Excellence, will ensure a successful year financially.

Click here to see how our ESOP ownership has grown over the years.

ESOP Calendar

June and July

New employee owner polos and stock certifications are distributed.

January, June and October

ESOP Builder distribution. Read a letter from the CFO, enjoy employee owner spotlights, and learn other valuable ESOP insights.

hover to learn more
tap to learn more
New Stock Price Announcement
New stock price is shared with all employees.
Statements Mailed to Participants
New employee-owners are recognized and accounts are created with Principal. Vested participant balances are updated with Fidelity.
Employees over age 55 with more than 10 years of service are able to diversify a portion of their ESOP balance, should they choose.
ESOP Month
Celebrate our ESOP with ESOP breakfasts, lunch and learns, and more.
JE Dunn stock is valued once a year by an independent valuation firm.

how do you act like an owner?


As an employee-owner, I try to be proactive with my daily tasks and project needs. It helps eliminate lost time due to lack of productivity. Lost time equals lost money. Working with our safety professionals on-site to accurately anticipate what is needed helps ensure safe performance by all on our projects. Safe work performance on all projects helps improve our ESOP.

Marco Martinez
Safety Director

Frequently Asked Questions

Where can I view my ESOP account information?
JE Dunn’s stock is valued one time annually, December 31, which means contributions JE Dunn makes on your behalf are reflected in your ESOP account only after the share price for the calendar year is determined. Annual statements are mailed and posted annually online in April.You can access your statement and beneficiary information online at
Why is my ESOP balance showing different amounts (or missing some) in Principal and Fidelity?
JE Dunn displays vested amounts at Fidelity. To earn vesting, employees must work at least 1,000 hours in two years to earn any vesting (ownership of their stock). That means if you haven’t yet earned any vesting, then you will not see your balance at Fidelity yet.If you have not yet reached your 100 percent vesting amount, then you will only see your *vested* amount at Fidelity, and the full amount at Principal.
What questions do you have about je dunn's esop?

Did You Know? Fast Facts

hover to learn more
tap to learn more


Studies have shown that ESOP participants have almost three times the retirement assets as workers in comparable non-ESOP companies.


Employees at ESOP Companies receive 5-12 percent more in wages.


Manufacturing, Engineering, Construction, and Banking are the most common industries with ESOPs.