At Marvin’s annual meeting Thursday, CEO and chair Paul Marvin announced that more than $17 million in profits would be shared with employees.

Paul Marvin broke the news at the company’s Warroad, Minnesota headquarters, where about 1,700 employees gathered for a year-end and holiday celebration. The Warroad event was livestreamed to 18 other locations where Marvin employees congregated for local festivities.

The family-owned company, now led by fourth and fifth generation Marvins, reported that 7,460 employees were eligible to receive profit sharing.

Full-time employees, who worked more than 1,500 hours, got profit sharing payouts ranging from $1,800 to almost $5,400, depending on length of service working for Marvin.

Almost 15% of employees have worked 20 years or more for the window-and-door manufacturer. With company leaders’ desire to recognize long-term employee commitments to Marvin, 25% of Marvin’s profit-sharing pool was allocated based on employee length of service.

Marvin’s 2024 profit sharing total was down from last year, when more than $20 million in profits was shared with 7,089 eligible employees.

“We made significant progress and achieved several notable milestones in 2024,” Paul Marvin said in a Thursday news release. “From opening a new distribution center in Reno, Nevada, to breaking ground on a new manufacturing facility in Kansas City, Kansas, Marvin is ideally positioned for continuous strategic growth in 2025 and beyond.”

During 2024, Marvin also completed a major renovation to the company’s 75,000-square-foot headquarters in Warroad that’s near the Canadian border. It also introduced Marvin Connected Home, which the company describes as “the industry’s first built-in, fully automated windows, doors, and skylights.”

As part of Thursday’s celebration, Marvin leaders and employees took note of the fact that the Marvin company placed No. 19 on the national list of Forbes best large employers. “Marvin employees are what make Marvin worthy of recognition, and I’m honored to have been able to celebrate alongside you,” Paul Marvin said.

Marvin was founded 112 years ago and began sharing profits in 1957. The company has shared more than $410 million in profits with its employees.

Earlier this month, Marvin held its second annual summit for company leaders. Paul Marvin posted about that event on his LinkedIn account. “Trust and gratitude are key attributes of leadership at Marvin,” he wrote. “Our top 100+ leaders stepped away from the day-to-day to reflect on those while recommitting to their leadership journeys, myself included. As we build for our future, we recognize that success starts with us. By dedicating this time to grow together, we’re intentionally creating a consistency of character and a culture that can only be Marvin’s.”