Tyson Foods 2012 Annual Report Download - page 15

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15
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
We have issued and outstanding two classes of capital stock, Class A stock and Class B stock. Holders of Class B stock may convert
such stock into Class A stock on a share-for-share basis. Holders of Class B stock are entitled to 10 votes per share while holders of
Class A stock are entitled to one vote per share on matters submitted to shareholders for approval. As of October 27, 2012, there were
approximately 27,000 holders of record of our Class A stock and 9 holders of record of our Class B stock, excluding holders in the
security position listings held by nominees.
DIVIDENDS
Cash dividends cannot be paid to holders of Class B stock unless they are simultaneously paid to holders of Class A stock. The per
share amount of the cash dividend paid to holders of Class B stock cannot exceed 90% of the cash dividend simultaneously paid to
holders of Class A stock. We have paid uninterrupted quarterly dividends on common stock each year since 1977. In both fiscal 2012
and 2011, the annual dividend rate for Class A stock was $0.16 per share and the annual dividend rate for Class B stock was $0.144
per share. On November 15, 2012, the Board of Directors declared a special dividend of $0.10 per share for Class A stock and $0.09
per share for Class B stock, payable December 14, 2012, to shareholders of record on November 30, 2012. Additionally, the Board of
Directors declared a 25% increase in the quarterly dividend rate for both classes of our stock.
MARKET INFORMATION
Our Class A stock is traded on the New York Stock Exchange under the symbol “TSN.” No public trading market currently exists for
our Class B stock. The high and low closing sales prices of our Class A stock for each quarter of fiscal 2012 and 2011 are represented
in the table below.
Fiscal 2012 Fiscal 2011
High Low High Low
First Quarter $ 20.91 $ 16.68 $ 17.74 $ 14.84
Second Quarter 20.37 18.52 19.82 16.25
Third Quarter 19.58 17.66 19.92 17.12
Fourth Quarter 18.56 14.17 19.24 15.68
ISSUER PURCHASES OF EQUITY SECURITIES
The table below provides information regarding our purchases of Class A stock during the periods indicated.
Period
Total
Number of
Shares
Purchased
Average
Price Paid
per Share
Total Number of Shares
Purchased as Part of
Publicly Announced
Plans or Programs
Maximum Number of
Shares that May Yet Be
Purchased Under the Plans
or Programs (1)
July 1 to July 28, 2012 77,966 $ 17.38 — 38,432,722
July 29 to Sept. 1, 2012 780,249 15.39 654,000 37,778,722
Sept. 2 to Sept. 29, 2012 2,595,492 15.79 2,531,038 35,247,684
Total 3,453,707 (2) $ 15.73 3,185,038 (3) 35,247,684
(1) On February 7, 2003, we announced our Board of Directors approved a program to repurchase up to 25 million shares of Class A
common stock from time to time in open market or privately negotiated transactions. The program has no fixed or scheduled
termination date. On May 3, 2012, our Board of Directors approved an increase of 35 million shares authorized for repurchase
under this program.
(2) We purchased 268,669 shares during the period that were not made pursuant to our previously announced stock repurchase
program, but were purchased to fund certain Company obligations under our equity compensation plans. These transactions
included 191,975 shares purchased in open market transactions and 76,694 shares withheld to cover required tax withholdings on
the vesting of restricted stock.
(3) These shares were purchased during the period pursuant to our previously announced stock repurchase program.