Tyson Foods Stock Price, News & Analysis

Tyson Foods (NYSE: TSN) has responded to a June 2, 2020, indictment by the DOJ involving executives from other poultry companies accused of anti-competitive practices. The company emphasizes its commitment to compliance with antitrust laws and reports that it self-reported information regarding a grand jury subpoena issued on April 26, 2019. Tyson Foods is cooperating with the DOJ's Corporate Leniency Program, which may protect the company and its employees from prosecution. The firm aims to uphold integrity in its operations and foster fair competition in the industry.

Tyson Foods has appointed David J. Bronczek to its board of directors. Bronczek, who recently retired as president and COO of FedEx after over 40 years, brings extensive experience in global logistics and operations. His previous roles include leading FedEx Express across various regions and serving on the board of International Paper. Tyson's Chairman John Tyson stated that Bronczek's leadership will support the company’s long-term growth initiatives. Bronczek expressed enthusiasm for joining Tyson Foods, further emphasizing his commitment to collaboration.

The Board of Directors of Tyson Foods declared a quarterly dividend of $0.42 per share on Class A common stock and $0.378 on Class B common stock. This dividend will be payable on September 15, 2020, to shareholders of record by September 1, 2020. Tyson Foods, founded in 1935, is a leading global food company known for its extensive portfolio, including brands like Tyson®, Jimmy Dean®, and Hillshire Farm®, and it employs 141,000 team members.

Tyson Foods (NYSE: TSN) has partnered with Axiom Medical to enhance health and safety protocols for its team members during the COVID-19 pandemic. This collaboration will provide medical support, 24/7 access to healthcare professionals, and education on best practices to mitigate illness spread. Tyson has already implemented temperature checks, social distancing measures, and protective equipment for workers. The company has also doubled its "thank you" bonus for frontline workers and increased short-term disability coverage to encourage sick team members to stay home.

Tyson Fresh Meats, a subsidiary of Tyson Foods (NYSE: TSN), will resume limited production at its Waterloo, Iowa facility on May 7, 2020. The plant was temporarily closed on April 22 due to COVID-19 testing for team members. Enhanced safety measures, including daily health screenings, protective gear, and social distancing protocols, have been established. Tyson has partnered with Matrix Medical Network for onsite health services. The company has also increased employee benefits, such as doubling the 'thank you' bonus and extending short-term disability coverage to 90% normal pay until June 30.

Tyson Foods has resumed limited production at its Pasco, Washington beef facility following a temporary shutdown due to COVID-19 testing. The facility was idled on April 23, with team members undergoing testing and self-isolation. Enhanced safety measures include temperature checks, facial coverings, and wellness screenings. The company has partnered with Matrix Medical Network for on-site health services. Additionally, it has doubled the bonus for frontline workers and increased short-term disability coverage to 90% until June 30.