01:59 PM EDT, 06/12/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Casey's General Stores (CASY) shares were up more than 16% in recent Wednesday trading after the company reported a stronger-than-expected increase in fiscal Q4 earnings and sales.

The company reported fiscal Q4 earnings late Tuesday of $2.34 per diluted share, up from $1.49 a year earlier.

Analysts polled by Capital IQ expected $1.70.

Revenue for the quarter ended April 30 was $3.60 billion, up from $3.33 billion a year earlier.

Analysts surveyed by Capital IQ expected $3.47 billion.

The company raised its quarterly dividend to $0.50 per share, payable August 15 to holders of record August 1.

During Q4, Casey's repurchased around $15 million of shares, raising the total for the year to $105 million. The company has about $295 million remaining under the share buyback authorization, it said.

Price: 380.21, Change: +53.68, Percent Change: +16.44