Thursday, September 13, 2012

Best Buy Raises Dividend on Strong Cash Flow

Best Buy Company Inc. (BBY) , the leading specialty retailer of consumer electronic products, recently boosted its quarterly dividend by 7.1%. The board has approved an increase in annual dividend to 60 cents (or 15 cents quarterly) from 56 cents a share (or 14 cents quarterly).

The increased dividend will be paid on October 26, 2010 to stockholders of record as on October 5, 2010. The company initiated its regular quarterly dividend in fiscal 2004. The last paid quarterly dividend of 14 cents represented an increase of 8% year-on-year.

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