Shares of Inghams Group (ASX:ING) have seen a substantial increase, surging as much as 17.3% to A$3.26.

This marks its largest intra-day jump to date.

The poultry producer declared a final dividend of 10 Australian cents per share, effectively bringing the total dividends for the year to 14.5 cents.

This is more than double from a year prior.

Inghams Group (ASX:ING) reports a significant 72.1% increase in its annual net profit after tax, amounting to A$60.4 million.

The company notes that the robust recovery in both revenue and profit during FY23, backed by the ongoing stabilisation of operations and a continuous recovery in farming performance, lays a solid foundation for future earnings growth.

The company’s stocks topped gains on the benchmark index, which is down 1%.

The stock additionally reached its highest point since March 10, with about 1.8 million shares changing hands, compared to the 30-day average volume of approximately 642,000 shares.

Despite the substantial gains reported today, Inghams Group (ASX:ING) shares are down 2.8% YTD as of the last close.

Inghams Group is an Australian-based poultry producer.