Casey’s General Stores Stock Surges 12% on Dividend Hike and Strong Earnings
Casey’s General Stores (CASY) shares jumped 12% to a record high on June 10 after the Midwest convenience chain announced a 14% dividend increase and outperformed earnings expectations. The quarterly payout rises to $0.57 per share, pushing the annual yield toward 1%.
First-quarter EPS of $2.63 crushed analyst estimates by 35%, with revenue climbing 11% year-over-year to $3.99 billion. Same-store sales excluding fuel ROSE 1.7%, driven by growing demand for the company’s prepared food offerings across its 2,500 locations.
Management projects full-year earnings growth of 10-12%, signaling confidence in sustained operational momentum. The dividend boost reflects robust cash FLOW generation despite inflationary pressures affecting the broader retail sector.
