Casey's General Stores Inc. (CASY) Thursday reported fourth-quarter net income of $23.27 million or $0.60 per share, compared to $23.07 million or $0.60 per share last year.
On average, nine analysts polled by Thomson Reuters expected earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $1.81 billion from $1.75 billion last year. Analysts estimated revenues of $1.83 billion for the quarter.
Chief Executive Robert Myers said, "A difficult cigarette environment and challenging weather comparisons adversely impacted sales during fiscal 2013. However, in the fourth quarter we saw strong sales gains with the recent implementation of a "fuel saver" program in partnership with Hy-Vee grocery stores and competitive cigarette pricing adjustments made earlier in the fiscal year. We expect this momentum will continue into fiscal 2014."
At its June meeting, the Board of Directors increased the quarterly dividend to $0.18 per share, payable August 15 to shareholders of record on August 1.
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