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Dividend Hikes: Casey's General Stores

Stocks in this article: CASY

NEW YORK ( TheStreet) -- Casey's General Stores (CASY) shares were trading higher Tuesday after the company announced an 18% increase to its quarterly cash dividend.

Casey's General Stores said it will increase its quarterly dividend payment to 10 cents per share from 8.5 cents. The company, which operates convenience stores in the Midwest, will pay the dividend on Aug. 16 to shareholders of record on Aug. 2.

The dividend announcement came as Casey's said it had fourth-quarter adjusted earnings of 51 cents a share, which excludes $6.9 million in legal fees related to the $1.9 billion hostile takeover bid from Canada's Alimentation Couche-Tard. Revenue in the quarter was up 33.6% to $1.18 billion.

Casey's General shares were lately up 18 cents, or 0.5%, to $36.11.

Elsewhere, Heico Corp. (HEI) increased its semi-annual dividend by 25% to 6 cents per share. The jet engine maker said the cash dividend is payable on July 21 to shareholders of record as of July 7. Shares of Heico were climbing by 0.5% to $38.08.

>>Find Ex-Dividend Dates With Our Dividend Calendar

HRPT Properties Trust (HRP) announced a dividend increase as the company will change its name and institute a reverse stock split.

Effective July 1, HRPT Properties will change its name to CommonWealth REIT and will trade under the new symbol CWH on the New York Stock Exchange. The company said that for every four existing common shares owned, shareholders will receive one new common share.

Currently, HRPT Properties pays a regular quarterly dividend of 12 cents per share. After the reverse share split, it expects to pay a regular quarterly dividend of 50 cents per share.

HRPT Properties also said it has agreed to sell 15 properties to Government Properties Income Trust (GOV) for $231 million.

Shares of HRPT Properties were up 0.4% to $6.96.

Meanwhile, Stage Stores (SSI) on Monday announced a 50% increase in its quarterly cash dividend to 7.5 cents per share from 5 cents. The stock is up 3.6% since Friday's close to $12.80.

-- Written by Robert Holmes in Boston.

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