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Exhibit 11
CASEY'S GENERAL STORES, INC.
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Computation of Per Share Earnings
Primary earnings per share - The computation of primary earnings per share is
not presented since such computation can be clearly determined from the
material contained in the Financial Statements and notes thereto included in
the Company's Annual Report to Shareholders for the fiscal year ended April 30,
1995.
Fully diluted earnings per share - The following sets forth the computation of
per share earnings on a fully diluted basis:
Year Ended April 30,
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1995 1994 1993
---- ---- ----
Net income $22,880,841 $16,564,097 $13,323,156
Interest savings net of
income taxes on assumed
conversion of convertible
debentures --- 1,220,747 1,356,250
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Earnings applicable to
fully diluted shares $22,880,841 $17,784,844 $14,679,406
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Average common shares
outstanding 25,930,614 22,571,288 22,162,124
Average common equivalent
shares applicable to
stock options 194,473 125,704 32,446
Average common shares
issuable on assumed
conversion of convertible
debentures --- 3,320,836 3,684,210
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26,125,087 26,017,828 25,878,780
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Earnings per share-fully
diluted basis (A) $ .88 $ .68 $ . 57
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(A) Fully diluted earnings per share cannot exceed primary earnings per share.