Stewart’s Shops, with employees at stores in Canton, Potsdam, Winthrop, Massena, Heuvelton, Ogdensburg and Gouverneur, has contributed $10.5 million to the Employee Stock Ownership Plan (ESOP), $500,000 more than the previous year.

Stewart’s employees own nearly 40 percent of the company through the ESOP, also known as profit sharing, which is completely funded by the company for its employee “Partners.”

The company contribution equals approximately 15 percent of an employee’s pay in 2016.

In addition to the contribution, Stewarts expects employees will see double digit growth on their existing ESOP account balances due to an increase in the company’s value.

Participants already received two dividends in 2016, totaling about 6 percent of their beginning balance.

Stewart’s Shops credits its growth to the growing customer demand for easy food and beverage options, as well as the expansion and reinvestment into its shops, and hard work. In 2016, the company built six new stores, re-built 10 existing locations, and completed 20 major remodels.

“As we see businesses struggle with higher costs and cutting jobs, we are fortunate to continue to build our business and serve our customers thanks to our dedicated partners,” says Stewart’s President Gary Dake. “Sharing ownership provides a sense of pride and a positive atmosphere in our shops. Our partners should be proud of what they do and also paid well for their hard work.”

There are 2,400 active participants in the plan. The ESOP contribution is available to anyone working 1,000 hours a year. Their balance should equal about a year’s pay after six years in the plan.