Consumer Electronics retailer Best Buy optimistically raises quarterly dividend

Another sign the economy is slowly beginning to pick up, North America’s largest consumer electronics retailer, Best Buy, has announced the company would increase its dividend by just over 7-percent on an annualized basis.

The company currently pays a $0.56 per share dividend annually, and will now raise that number to $0.60 per share annually.

Best Buy pays dividends quarterly.and lastly paid its $0.14 dividend on April 13.

The company said it would distribute the first updated dividend on October 26.

 Shareholders who own Best Buy stock by October 5 of this year will be entitled to the increased dividend.The increase in dividends will surely make stockholders happy due to the increase in incoming net cash flows.

Additionally, it is a sign the company believes it will have sufficient free cash flows, hence is able to easily redistribute earnings to shareholders.

The Best Buy stock (NYSE:BBY) is trading up by almost 1-percent to $35.50 per share in early morning trading.

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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
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