Andersen Corp. employees got good news this week, just in time for the holidays.

The Bayport-based window and door manufacturer announced Thursday it will pay out $55.4 million in 2023 to eligible employees as part of the company’s annual profit sharing program. Eligible employees will receive up to $4,400 apiece, company officials said.

“Despite high interest rates impacting the housing market, Andersen continued to achieve remarkable growth in 2023,” Chris Galvin, Andersen Corporation president and chief executive officer said in a statement. “This success is a testament to the unwavering commitment, adaptability and resilience of our employees. We take pride in acknowledging our employees for embodying our core values and going above and beyond to consistently exceed customer expectations.”

This year’s payout was a 33 percent increase over 2022, when the company distributed $41.5 million. Eligible employees last year received $4,000 in profit sharing, plus a $500 bonus.

Receiving a profit sharing check in 2022 was contingent on the employee being fully vaccinated against COVID; this year’s profit sharing checks were not tied to a vaccination requirement, company officials said.

Privately held Andersen, which had issued profit-sharing payments since 1914, suspended the program in 2008, citing the economic downturn. The company revived the program in 2014 under a slightly different model — rather than being based on each employee’s salary, the payout is shared equally.

Andersen officials also announced Thursday that the company and its related corporate foundation donated nearly $4.4 million in 2023 to nonprofits “working in the areas of housing, education, hunger and health care in communities where Andersen employees live and work.”

“Fostering community wellbeing demands a collaborative effort,” said Eliza Chlebeck, vice president of communications and community at Andersen and vice president and secretary of the Andersen Corporate Foundation. “We are proud to uphold our longstanding commitment to supporting organizations that make an impact in addressing critical issues within housing, health, hunger relief and education.”

In November, the company commemorated the start of construction on a new $420 million Renewal by Andersen manufacturing facility in Locust Grove, Ga., with a donation to Southern Crescent Habitat for Humanity. It also committed to donating windows for Southern Crescent Habitat for Humanity’s home builds in 2024, furthering the company’s “commitment to supporting affordable housing and helping more families achieve their dream of stable homeownership,” company officials said.

The company has more than $4 billion in annual revenue and has more than 14,000 employees in sites across North America and Italy. About half of the company’s employees work in Minnesota at facilities in Bayport, Oak Park Heights, Cottage Grove and North Branch.

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