NOBULL: Ozarks-based Tyson Foods 4Q profit rises on beef, chicken sales — While 2000 feeders go out of business…

Ozarks-based Tyson Foods 4Q profit rises on beef, chicken sales

POSTED: 05:38 PM CST Nov 18, 2013

SPRINGDALE, Ark. (AP) ā€” Tyson Foods says its fiscal fourth-quarter net income climbed 41 percent, driven by higher beef and chicken sales.

The nation’s biggest meat producer also provided a fiscal 2014 revenue forecast above analysts’ estimates. It anticipates fiscal 2014 revenue of about $36 billion.

Tyson earned $261 million, or 70 cents per share, for the period ended Sept. 28. Last year, the Springdale company earned $185 million, or 51 cents per share.

The company’s board has decided to raise its quarterly dividend by 50 percent to 7.5 cents, from 5 cents.

The dividend will be paid on Dec. 13 to shareholders of record on Nov. 29.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.