Casey’s General Stores (CASY) today announced a dividend hike of 8.6 percent to 38 cents quarterly per share. Last year CASY raised its quarterly dividend by 2.9 percent to 35 cents per share, marking the 22nd consecutive year of dividend increases. This new hike just announced will mark 23 years of dividend growth.

A new annualized dividend rate of $1.52 per CASY share yields 0.8% at a stock price of $193.70. The dividend is payable August 15, 2022 to shareholders of record on August 1, 2022.

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.