Casey’s General Stores 4Q net income jumps 41 pct in 4th quarter, boosts dividend

Casey’s General Stores 4Q net income climbs

ANKENY, Iowa — Casey’s General Stores Inc., the Midwest convenience store operator that is resisting a $1.9 billion takeover bid, says its net income rose 41 percent in the fourth quarter as revenue soared.

The earnings results beat Wall Street expectations, and the company raised its quarterly dividend by almost 18 percent to 10 cents a share.

Its shares rose 2.3 percent to $36.75 in premarket trading.

Casey’s has said the April buyout offer of $36 a share from Canada’s Alimentation Couche-Tard is too low and sued its suitor.

Facing resistance, Couche-Tard has taken its offer directly to Casey’s shareholders and says it will defend itself against the suit.