Best Buy Co., Inc. (NYSE:BBY) Raises Dividend to $0.96 Per Share

Best Buy Co., Inc. (NYSE:BBY) declared a quarterly dividend on Tuesday, March 3rd. Shareholders of record on Tuesday, March 24th will be paid a dividend of 0.96 per share by the technology retailer on Tuesday, April 14th. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Tuesday, March 24th. This is a 1.1% increase from Best Buy’s previous quarterly dividend of $0.95.

Best Buy has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Best Buy has a dividend payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Best Buy to earn $6.63 per share next year, which means the company should continue to be able to cover its $3.84 annual dividend with an expected future payout ratio of 57.9%.

Best Buy Price Performance

NYSE:BBY opened at $62.74 on Friday. The company has a fifty day moving average price of $65.49 and a 200 day moving average price of $72.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. Best Buy has a one year low of $54.99 and a one year high of $84.99. The stock has a market cap of $13.12 billion, a P/E ratio of 12.45, a PEG ratio of 1.55 and a beta of 1.46.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. The company had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts anticipate that Best Buy will post 6.18 earnings per share for the current year.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.