Casey's General Stores shares are moving higher after the company logged a better fiscal fourth quarter than expected and projected potentially stronger sales growth in the year ahead.

The stock was up 8% to $475 in overnight trading. Shares were changing hands at $328.63 this time a year ago.

The convenience-store chain said it expects inside same-store sales to rise 2% to 5% in the fiscal year ahead, which started May 1, and to open at least 80 stores through a mix of acquisitions and new store construction.

For the quarter ended April 30, Casey's posted a profit of $98.3 million, or $2.63 a share, up from $87 million, or $2.34 a share, in the same quarter a year earlier. Analysts polled by FactSet had been expecting $1.94 a share.

Revenue jumped 11% to $3.99 billion, ahead of analyst estimates for $3.93 billion, according to FactSet.

Inside same-store sales were up 1.7% from the year prior, driven by strength in its bakery, hot prepared food and cold prepared food categories, as well as the dispensed beverage category.

The company said its profitability was aided by both the rise in sales and a strong fuel gross profit, which offset higher operating costs from the addition of 246 new stores.

Casey's separately said it would raise its quarterly dividend by 14% to 57 cents per share.