Casey's General Stores Raises Quarterly Dividend 14.04%

Casey's General Stores, Inc. (NASDAQ: CASY) increased its quarterly dividend to $0.65 per share from $0.57, a 14.04% rise. The shares traded ex-dividend on July 31, 2026.

The new rate equates to an annual dividend of $2.60 per share. Based on a share price of $835.74, the forward annual yield is 0.31%. The increase extends Casey's record of dividend growth to 26 consecutive years.

Operating performance supports the increase

The higher payout followed a strong fiscal year for the convenience-store operator. Casey's reported that fiscal 2026 net income rose 30.7% to $714.4 million, while EBITDA increased 23.6% to nearly $1.5 billion. Management attributed the performance partly to strength in prepared foods and nonalcoholic beverages, along with higher fuel gross profit. Fourth-quarter inside same-store sales increased 5.5%, according to the company's fiscal-year results.

Casey's also expanded its share-repurchase authorization to $1 billion and said it expects to open at least 120 stores during fiscal 2027 through acquisitions and new construction. Those capital commitments show that the dividend increase forms one part of a broader capital-allocation program rather than representing the company's sole use of cash.

The company subsequently introduced a new three-year strategic plan centered on food and beverage sales, store expansion and operating efficiency. Casey's said it added more than 500 stores under its previous plan and completed the integration of CEFCO, its largest acquisition to date, which expanded its presence in Texas and across the southern United States. The company describes itself as the country's third-largest convenience retailer and fifth-largest pizza chain. Casey's strategic-plan announcement provides additional detail.

What it means for income investors

If maintained, the new quarterly rate represents $2.60 in annual dividends for each share held. The 0.31% forward yield remains modest, so the event is more notable for the 14.04% increase and the continuation of the 26-year growth streak than for current income. SmarterDividends assigns the payout a safety score of 97 out of 100 and an A grade.