by Lance Turner
Posted 12/5/2013 01:38 pm
Updated 3 months ago
Shares of Tyson Foods Inc. of Springdale hit a 52-week high on Wednesday, trading at $33.50 before closing at $33.36.
Shares of the country's biggest meat processor (NYSE: TSN) have been on the rise since Nov. 1, but the price hike accelerated after Nov. 18, when it reported a 41 percent rise in fourth-quarter net income driven by higher beef and chicken sales.
For the fiscal year, Tyson earned $778 million, or $2.12 per share, up 33 percent from $583 million, or $1.58 per share, last year.
The earnings results also prompted a 50 percent spike in the company's dividend, which is now 7.5 cents, payable Dec. 13.
At least one Tyson Foods executive sold shares near the top of the stock's 52-week range. On Monday, Ken Kimbro, executive vice president and chief human resources officer, sold 45,167 shares of Tyson stock at an average price of $32, for a total value of $1.4 million.