Tyson Foods declares shareholder dividend
Tyson Foods shareholders are entitled to a cash quarterly dividend of $0.225 cents payable June 15. The dividend was declared by the company’s board of directors at meeting on Feb. 8. The dividend will go to shareholders of record as of the close of business on June 1.
The dividend payment for the Tyson Family’s Class B shares is $0.2025 cents with the same terms as the Class A shares. Tyson recently raised its annual dividend for Class A shareholders to 90 cents per share, a 50% increase from the previous 60-cent annual dividend.
The company recently announced record fiscal first quarter net income of $594 million, up almost 29% compared to the same period in the previous fiscal quarter thanks to big gains in the beef and pork segments.
Earnings per share of $1.59 far outpaced analysts’ consensus estimate of $1.26. Total revenue for the quarter was $9.182 billion, better than the $9.152 billion in the same quarter of 2016 and better than the consensus estimate of $9.05 billion.
Shares of Tyson Foods (NYSE: TSN) closed Monday (Feb. 13) at $65.30, up 24 cents. Over the past 52 weeks Tyson shares have traded from a $77.05 high to a $55.72 low.