Dollar Thrifty Automotive Group Pays Out $7.57 Million in Profit Sharing And Performance Awards
TULSA, Okla., Feb. 13, 2004 -- Dollar Thrifty Automotive Group, Inc. today distributed $7.57 million in profit sharing and performance awards in recognition of employee achievements for 2003. Approximately $3.6 million of that was awarded to employees based in Oklahoma.
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With an annual worldwide payroll of over $200 million and an annual Oklahoma payroll of over $55 million, Dollar Thrifty employs more than 1,500 in support of its Dollar Rent A Car, Thrifty Car Rental and Thrifty Car Sales brands at its worldwide headquarters and reservations centers in Oklahoma. Of the publicly held companies based in Oklahoma, DTG ranks as one of the top 10 employers in the state.
Gary L. Paxton, Dollar Thrifty Chief Executive Officer and President, said, "While the car rental and travel industries have experienced difficult times since the terrorist attacks of 2001, Dollar Thrifty Automotive Group employees have rallied to ensure the Company remains the most efficient and best managed car rental businesses in the country. Despite the state of the industry or the economic conditions, Dollar Thrifty has been profitable every year since the company's initial public offering in 1997. Dollar Thrifty employees have worked diligently together as a team to implement significant new strategic initiatives while also achieving excellent results. You can't deliver the accomplishments Dollar Thrifty has without a team effort. Presenting our employees with these performance awards is an opportunity to say thank you for a great job.
"While Dollar Thrifty's list of accomplishments for 2003 was quite lengthy, we are particularly pleased to have met some of our key objectives including:
-- Successfully implemented a new operating model and organizational
structure;
-- Acquired and/or opened 28 major markets adding 15,000 cars to the
corporate fleet;
-- Introduced a dual franchising program for international, Canadian and
smaller markets in the U.S.; and
-- Achieved record annual revenue in 2003 of $1.23 billion, an
8.4 percent increase over the prior year.
Dollar Thrifty finished 2003 with great momentum and we look forward to the opportunity for additional growth in 2004."
Paxton noted that performance award checks were distributed to employees at all job levels. "Over 70 percent of these awards went to non-executives reflecting Dollar Thrifty's commitment to recognizing the broad spectrum of contributions from its entire organization," Paxton said.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission, Value Every Time, the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 7,000 employees are located mainly in North America, but global service capabilities exist through an ever expanding franchise network. For additional information, visit www.dtag.com .
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