Casey’s General Stores (CASY) will raise its quarterly dividend by 2.9 percent to 35 cents per share in 2021. This follows a dividend hike of 6.3 percent to 34 cents per share in 2020 and marks the 22nd consecutive year of dividend increases.
At its September meeting, the Board of Directors voted to pay a quarterly dividend of $0.35 per share, which is an increase of $0.01 per share. The dividend is payable November 15, 2021 to shareholders of record on November 1, 2021. A new annualized dividend rate of $1.40 per share yields 0.7% at a stock price of $202.66.
Casey's General Stores, Inc. operates convenience stores in Midwestern states, primarily in Iowa, Missouri, and Illinois. Casey's offers self-service gasoline, grocery items and freshly prepared food items. Among the most popular of Casey's prepared foods are their made-from-scratch pizzas, donuts, subs and sandwiches. Casey's operates from two company distribution centers, enabling delivery of most of in-store products and fuel. The first store opened in 1968 in Boone, Iowa. Casey's began paying cash dividends during fiscal 1991.