Casey's earning rise amid takeover bid - KWWL - Eastern Iowa Breaking News, Weather, Closings

Casey's earning rise amid takeover bid


DES MOINES (KWWL) -- 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.  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 that company.

Facing resistance, Couche-Tard has taken its offer directly to Casey's shareholders.  Company officials say it will defend itself against the suit.

Online Anchor:  Bob Waters

Powered by Frankly