Conagra Brands, Inc. (NYSE: CAG) has announced that the company will provide cash bonuses to workers. The company announced this package for employees in recognition of their hard work during the coronavirus pandemic. Workers infected with coronavirus would continue to receive pay and are eligible for the bonus.
Conagra Brand revealed on Friday that the company has decided to give a bonus to full-time and part-time workers. All the workers from the United States, Mexico, and Canada will receive bonuses.
Workers of production and distribution facilities from the US will receive a $500 bonus and a $250 bonus to part-time workers. Workers from Canada and Mexico will receive similar bonuses.
Conagra Brands, Inc. stocks went up 6.79% at $27.85 during the last trading session. CAG has a trading volume of roughly $5.75 million compared to its average volume of roughly $7.22 million. CAG has a total market capitalization of $13.55 billion. Conagra Brand, Inc. has a 52 week low moving average of $22.83 and a 52-week high moving average of $35.59.
As the coronavirus pandemic continued to spread across the world it has affected businesses. Almost 550,530 people sickened with the COVID-19 and death toll reached 24,903 globally. 85,749 cases were reported in the United state and 1,304 people have died. 585 cases were recorded in Mexico and 8 deaths were reported there. 4,043 people are infected with coronavirus in Canada.
Currently, there are 8 buy ratings, 8 sell rating and 1 strong raring for the stock of CAG, resulting in the overall rating of buy.
President and CEO of Conagra, Sean Connolly, said: “During this unprecedented time, the hard work and dedication of our supply chain employees at all of our food production and distribution facilities has been truly inspiring.”
“I thank each team member for their extraordinary efforts to meet the needs of consumers, achieve outstanding customer service levels and keep our plants operating effectively and efficiently,” he continued.
Conagra Brands, Inc., together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf-stable food products in various retail channels in the United States.
CAG was formerly known as ConAgra Foods, Inc. and changed its name to Conagra Brands, Inc. in November 2016. Conagra Brands, Inc. was founded in 1919 and is headquartered in Chicago, Illinois.