Tyson Foods 2015 Annual Report Download - page 20
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Please find page 20 of the 2015 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY
SECURITIES
Wehaveissuedandoutstandingtwoclassesofcapitalstock,ClassAstockandClassBstock.HoldersofClassBstockmayconvertsuchstockintoClassAstock
onashare-for-sharebasis.HoldersofClassBstockareentitledto10votespershareandholdersofClassAstockareentitledtoonevotepershareonmatters
submittedtoshareholdersforapproval.AsofOctober31,2015,therewereapproximately24,000holdersofrecordofourClassAstockandsevenholdersof
recordofourClassBstock,excludingholdersinthesecuritypositionlistingsheldbynominees.
DIVIDENDS
CashdividendscannotbepaidtoholdersofClassBstockunlesstheyaresimultaneouslypaidtoholdersofClassAstock.Thepershareamountofthecash
dividendpaidtoholdersofClassBstockcannotexceed90%ofthecashdividendsimultaneouslypaidtoholdersofClassAstock.Wehavepaiduninterrupted
quarterlydividendsoncommonstockeachyearsince1977.Infiscal2015,theannualdividendrateforClassAstockwas$0.40pershareandtheannualdividend
rateforClassBstockwas$0.36pershare.Infiscal2014,theannualdividendrateforClassAstockwas$0.30pershareandtheannualdividendrateforClassB
stockwas$0.27pershare.OnNovember19,2015,theBoardofDirectorsincreasedthequarterlydividendpreviouslydeclaredonJuly30,2015,to$0.15pershare
onourClassAstockand$0.135pershareonourClassBstock.TheincreasedquarterlydividendispayableonDecember15,2015,toshareholdersofrecordat
thecloseofbusinessonDecember1,2015.AlsoonNovember19,2015,theBoardofDirectorsdeclaredaquarterlydividendof$0.15pershareonourClassA
stockand$0.135pershareonourClassBstock,payableonMarch15,2016,toshareholdersofrecordatthecloseofbusinessonMarch1,2016.Weanticipatethe
remainingquarterlydividendsinfiscal2016willbe$0.15and$0.135pershareofourClassAandClassBstock,respectively.Beginninginfiscal2017,we
anticipatetoincreaseourannualdividendsapproximately$0.10peryear.
MARKET INFORMATION
OurClassAstockistradedontheNewYorkStockExchangeunderthesymbol“TSN.”NopublictradingmarketcurrentlyexistsforourClassBstock.Thehigh
andlowsalespricesofourClassAstockforeachquarteroffiscal2015and2014arerepresentedinthetablebelow.
2015
2014
High
Low
High
Low
FirstQuarter $ 43.37
$ 37.02
$ 34.38
$ 27.33
SecondQuarter 42.41
37.10
43.45
33.03
ThirdQuarter 45.10
37.24
44.24
34.90
FourthQuarter 44.78
39.05
41.88
36.12
ISSUER PURCHASES OF EQUITY SECURITIES
ThetablebelowprovidesinformationregardingourpurchasesofClassAstockduringtheperiodsindicated.
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.28,2015toJul.25,2015 92,654
$ 43.48 —
27,929,771
Jul.26,2015toAug.29,2015 3,265,564
41.92 3,173,112
24,756,659
Aug.30,2015toOct.3,2015 3,701,964
42.31 3,628,514
21,128,145
Total 7,060,182 (2) $ 42.14 6,801,626 (3) 21,128,145
(1) OnFebruary7,2003,weannouncedourBoardofDirectorsapprovedaprogramtorepurchaseupto25millionsharesofClassAstockfromtimetotimein
openmarketorprivatelynegotiatedtransactions.OnMay3,2012,ourBoardofDirectorsapprovedanincreaseof35millionsharesauthorizedforrepurchase
underthisprogram.OnJanuary30,2014,ourBoardofDirectorsapprovedanincreaseof25millionsharesauthorizedforrepurchaseunderthisprogram.The
programhasnofixedorscheduledterminationdate.
(2) Wepurchased258,556sharesduringtheperiodthatwerenotmadepursuanttoourpreviouslyannouncedstockrepurchaseprogram,butwerepurchasedto
fundcertainCompanyobligationsunderourequitycompensationplans.Thesetransactionsincluded215,099sharespurchasedinopenmarkettransactions
and43,457shareswithheldtocoverrequiredtaxwithholdingsonthevestingofrestrictedstock.
(3) Theseshareswerepurchasedduringtheperiodpursuanttoourpreviouslyannouncedstockrepurchaseprogram.
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