Best Buy Declares Fresh Dividend; Yield Is 2%

While Best Buy (NYSE: BBY) shoppers were snapping up Black Friday deals, the retailer's investors were digesting some encouraging news about their stock on Wednesday. The company declared its newest quarterly dividend, $0.55 per share, to be paid on Jan. 5 to stockholders of record as of Dec. 15.

Somewhat atypically for the retail industry these days, Best Buy is a regular and reliable dividend payer. It also tends to lift that distribution once every year. Since the beginning of 2015, it has risen from $0.23 to the present level. At the most recent closing stock price, the new dividend translates to a yield just under 2%.

Image source: Best Buy.

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Source Fool.com