The same will apply to middle managers'wage dividends payable in 1998.
The bonus, called a wage dividend, is based on return on net assets.
For decades, the wage dividend ranged from 5 percent to 15 percent of base pay.
Starting in 1997, senior managers will receive their 1996 wage dividends in stock options instead of cash.
Except for one year during the Great Depression, Kodak has paid an annual wage dividend since 1912.
In addition to the wage dividend, managers receive a separate stock bonus under a plan that weighs a dozen targets from cash flow to customer satisfaction.
Kodak continued a tradition by declaring a wage dividend, estimated at $ 137 million, to be divided among approximately 48, 500 employees in the United States.
The wage dividend, which was instituted by the company's founder, George Eastman, applies to every company employee rather than being restricted to top executives as are many bonus programs.
Fisher has indicated that he plans to keep the wage dividend, despite its unpopularity on Wall Street, but that he will modify the formula used to calculate it to better reflect the company's performance.
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