Dollar General beats quarterly same-store sales estimates and raises its dividend

Luke Sharrett | Bloomberg | Getty Images

A Dollar General store in Scottsville, Kentucky.

Dollar General reported better-than-expected same-store sales on Thursday, as its customers spent more on groceries at the discount retailer’s stores, benefiting from an earlier-than-usual issue of food stamps.

Same-store sales rose 4 percent in the fourth-quarter ended Feb. 1, beating the 2.6 percent increase analysts had estimated, according to IBES data from Refinitiv.

Net sales rose to $6.65 billion from $6.13 billion.

The company also raised its quarterly dividend by 10 percent and increased its share buyback program by $1 billion.

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