Casey’s General Stores, Inc. (NASDAQ:CASY) to Issue Quarterly Dividend of $0.65

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Tuesday, June 9th. Shareholders of record on Saturday, August 1st will be paid a dividend of 0.65 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is a 14.0% increase from Casey’s General Stores’s previous quarterly dividend of $0.57.

Casey’s General Stores has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Casey’s General Stores has a dividend payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Casey’s General Stores to earn $20.37 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 11.2%.

Casey’s General Stores Trading Up 1.3%

Shares of CASY stock opened at $761.18 on Wednesday. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. Casey’s General Stores has a fifty-two week low of $481.30 and a fifty-two week high of $901.00. The firm’s 50 day moving average price is $790.09 and its two-hundred day moving average price is $679.24.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 earnings per share. On average, analysts anticipate that Casey’s General Stores will post 18.16 EPS for the current year.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.