Best Buy Boosts Dividend for the First Time in Two Years
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Best Buy Co. raised its quarterly dividend for the first time in two years after Chief Executive Officer Hubert Joly cut costs and improved cash flow, signaling that a comeback is under way.
The dividend, boosted by 12 percent to 19 cents a share, would be payable on Oct. 2 to shareholders of record as of Sept. 11, the Richfield, Minnesota-based company said today in a statement. The increase exceeded the 18 cent estimate, according to data compiled by Bloomberg.