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.
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