Casey’s General Stores, Inc. (CASY) to Issue Quarterly Dividend of $0.65 on August 14th

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Thursday, June 4th. Stockholders of record on Saturday, August 1st will be paid a dividend of 0.65 per share on Friday, August 14th. This represents a c) annualized dividend and a dividend 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 increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 24 consecutive years. Casey’s General Stores has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Casey’s General Stores to earn $23.49 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 11.1%.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $856.86 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $821.71 and a 200-day moving average of $747.62. The firm has a market cap of $31.71 billion, a P/E ratio of 44.72, a P/E/G ratio of 2.56 and a beta of 0.62. Casey’s General Stores has a 1-year low of $490.00 and a 1-year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 EPS. Sell-side analysts expect that Casey’s General Stores will post 21.14 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.