Dividend Stock: Casey's General Stores (CASY)
Casey's General Stores also announced on Tuesday it would increase its dividend payment by 18% to 10 cents per share. The dividend is payable Aug. 16 to shareholders of record on Aug. 2. The move came amid a fairly impressive earnings report for the retailer.
Specifically, Casey's reported net earnings of $116.9 million for the fiscal year that ended April 30 on sales of $4.6 billion. The EPS of 43 cents per share exceeded analyst estimates. Looking forward, the company said it intends to grow its store locations by 4% to 6% in fiscal 2011, replace 20 stores and complete 20 remodels. Casey's currently operates 1,500 convenience stores in nine Midwest states. Though not a high-yield dividend stock, it's 1.2% payday is noteworthy for retirement investors looking for regular disbursements.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV