Looking ahead, the company is very optimistic about fiscal 2020 and is currently expecting to meet or exceed its long-term earnings algorithm of high single-digit adjusted earnings per share growth. For fiscal 2020, Tyson expects capital expenditures to be about $1.3 billion.
Tyson expects total liquidity, which was about $1.2 billion on September 28, 2019, to remain above its minimum liquidity target of $1.0 billion. Effective November 11, 2019, the board raised the quarterly dividend previously declared, to $0.42 per share on Class A common stock and $0.378 per share on Class B common stock. The increased quarterly dividend is payable on December 13, 2019, to shareholders of record at the close of business on November 29, 2019.
For the fourth quarter, the sales volume in the Beef segment declined by 4% due to a reduction in live cattle processing capacity from the temporary closure of a production facility as a result of a fire. Sales volume in the Pork segment rose by 3% due to increased domestic availability of live hogs and strong demand for its pork products. Sales volume in the Chicken segment increased by 13% primarily due to incremental volume from business acquisitions.
The average sales price rose by 3% as demand for its beef products remained strong. The average sales price in the Pork segment increased 8% associated with higher livestock costs. The average sales price in the Chicken segment decreased by 2.4% due to market conditions and sales mix primarily associated with the acquisition of a poultry rendering and blending business in the fourth quarter of fiscal 2018.
Sales volume in the Prepared Foods segment decreased by 2.6% primarily from business divestitures. However, the average sales price increased by 5.2% due to product mix, which was positively impacted by business divestitures, as well as pricing increases in its ongoing business from the pass-through of raw material costs.
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