the esop builder

we are employee-owners.
Volume 30
April 2024


Welcome to the 30th edition of The ESOP Builder – an internal publication only for the employees of JE Dunn Construction. Our goal is to keep everyone informed about the Employee Stock Ownership Plan and how the program impacts you as an employee-owner of JE Dunn.

We recently announced our 2023 share price, which is always an exciting time of the year! This edition of The ESOP Builder includes a letter from CFO Beth Soukup, a look at how Self-Perform benefits all of us as employee-owners, a project spotlight on CSU Spur, 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

JE Dunn Construction Group, Inc. stock was valued at $74.40 per share as of December 31, 2023, an increase of $11.90 over the stock value of $62.50 as of December 31, 2022. Dividends paid for the year ended December 31, 2023, were $5.24 per share for a total return of 27.42% for JE Dunn shares.

The JE Dunn Construction Group, Inc. Board of Directors approved the following contributions into the JE Dunn Employee Stock Ownership Plan and Trust (ESOP) for 2023:

  • A profit-sharing contribution to the ESOP equal to 7% of a participant’s covered compensation for 2023 (2022 profit-sharing contribution percentage was 6%)
  • A matching contribution to the ESOP equal to 50% of a participant’s elective contributions up to 3% of the participant’s covered compensation for 2023

We anticipate ESOP participant statements will be available on the Principal Financial Group website by mid-April 2024. Statements will also be mailed to your home address by Principal Financial Group.

The ESOP Trust currently owns 27.36% of JE Dunn Construction Group, Inc. stock.

As we look ahead to 2024, we are currently forecasting 2024 construction revenue of approximately $7.9 billion, compared to 2023 construction revenue of $6.5 billion. Earnings before taxes as a percentage of construction revenue is currently forecasted at 2.55% for 2024. Final 2023 earnings before taxes as a percentage of construction revenue was 2.92% (which included a large investment gain of $49.5M which, if excluded, would change the percentage to 2.18%).

Click here to view a recap of our share price and annual return over the last seven years.

ESOP Calendar

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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, it’s refreshing to know that the entrepreneurial mindset, values, and success of the company aren’t reserved for just executives, but we as a whole, the employees, help make a difference to the business. I relish in the concept that every action and interaction I make internally and externally has a tangible impact on the outcome of JE Dunn’s future success.

Martell J. Dyles
Senior Manager of Diversity and Inclusion

Frequently Asked Questions

I am a new hire and don’t know how to access my ESOP account online. How do I view my account details?
JE Dunn creates the ESOP accounts on behalf of employees at Principal Financial. You do not need to complete a formal enrollment into the ESOP plan. JE Dunn’s stock is valued annually on December 31, then during the first quarter each year JE Dunn’s accounting team works to finalize the distribution of stock (ESOP) to all employee accounts. Annual statements are mailed to employee homes and available online in mid-April, at which time you can view your account details online and name your beneficiary. If you were hired or began contributing to the Dunn 401(k) Retirement Plan in 2023, then you will be able to view your account in mid-April of 2024. If you were either hired or began contributing to the Dunn 401(k) Retirement Plan in 2024 then you must wait until JE Dunn’s 2024 stock price is first determined (end of 2024 year), and then you will access your account details in mid-April of 2025. It’s important to note that as soon as you begin participating in the Dunn 401(k) Retirement Plan, you start earning JE Dunn stock (ESOP). Your matching allocation from JE Dunn on the 401(k) plan accrues and will be used to purchase shares of stock for you and is allocated to your account with the above-mentioned timeline.
How do I know if I am putting the full value into my 401k to receive the max match? Is it pre-tax or Roth that needs to be a certain percentage? Is the match calculated on each paycheck, a monthly amount, or a total year end amount? For example, do I need to put 6% towards pre-tax 401k every paycheck or could it be 3% for a few months and 9% for a few months to receive the same total?
It can be pretax or Roth, or a combination of the two. The match is calculated on a year-end amount. In the example above, it could be a combination of different amounts that would get you to the same total.
What questions do you have about je dunn's esop?

Did You Know? Fast Facts

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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.