The world’s largest consumer electronics retailer Best Buy (BBY) announced Thursday that its Board of Directors has approved an increase of 1 cent in its quarterly dividend, making the quarterly dividend amount to 17 cents per share. The dividend will be payable on October 2 to shareholders of record as of September 11, 2012.
Best Buy announced the news two hours before its annual shareholders meeting. In the meeting, the company is expected to announce details of its turnaround plan.
In the face of increasingly fierce competition from the online retailers and discount stores, Best Buy is making every effort to improve performance.
As of this articel release, Best Buy stock price slipped 0.84%, to report at $20.14.