Tyson Foods 2013 Annual Report Download - page 16

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16
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 and holders of
Class A stock are entitled to one vote per share on matters submitted to shareholders for approval. As of October 26, 2013, there were
approximately 24,000 holders of record of our Class A stock and eight 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 fiscal 2013, the
annual dividend rate for Class A stock was $0.20 per share and the annual dividend rate for Class B stock was $0.18 per share. In
fiscal 2012, 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, which was payable on December 14, 2012, to shareholders of record on November 30, 2012. Additionally,
on November 14, 2013, the Board of Directors increased the quarterly dividend previously declared on August 1, 2013, to $0.075 per
share on our Class A common stock and $0.0675 per share on our Class B common stock. The increased quarterly dividend is payable
on December 13, 2013, to shareholders of record at the close of business on November 29, 2013.
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 2013 and 2012 are represented
in the table below.
2013 2012
High Low High Low
First Quarter $ 19.79 $ 16.02 $ 20.91 $ 16.68
Second Quarter 24.82 19.40 20.37 18.52
Third Quarter 25.88 23.26 19.58 17.66
Fourth Quarter 31.83 26.03 18.56 14.17
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)
Jun. 30, 2013 to Jul. 27, 2013 148,092 $ 26.48 — 24,021,002
Jul. 28, 2013 to Aug. 31, 2013 5,359,099 31.13 5,074,839 18,946,163
Sept. 1, 2013 to Sept. 28, 2013 4,887,545 29.68 4,773,867 14,172,296
Total 10,394,736 (2) $ 30.38 9,848,706 (3) 14,172,296
(1) On February 7, 2003, we announced our Board of Directors approved a program to repurchase up to 25 million shares of Class A
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 546,030 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 451,243 shares purchased in open market transactions and 94,787 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.