Best Buy Co Inc (NYSE:BBY) Declares $0.92 Dividend, Exhibits Strong Growth and Profitability

5 January 2024 - 269 views

Best Buy Co Inc (NYSE:BBY) recently announced a dividend of $0.92 per share, payable on 2024-01-02, with the ex-dividend date set for 2023-12-11. Best Buy is the largest consumer electronics retailer in the U.S., with a 8.5% share of the market. The company has a consistent dividend payment record since 2003 and has shown solid profitability and growth metrics.

[Sentiment: Positive]

Best Buy Co Inc (NYSE: BBY) recently announced a dividend of $0.92 per share, payable on January 2, 2024, with the ex-dividend date set for December 11, 2023. The company is the largest consumer electronics retailer in the US, with a 8.5% share of the market and over 35% share of offline sales. Best Buy Co Inc generates the majority of its sales in-store and has seen its e-commerce channel double from pre-pandemic levels. The company has a consistent dividend payment record since 2003, with a 12-month trailing dividend yield of 4.92% and a 12-month forward dividend yield of 4.97%. Over the past three years, Best Buy Co Inc’s annual dividend growth rate was 20.70%. The company has a dividend payout ratio of 0.63 and a profitability rank of 8 out of 10. Best Buy Co Inc’s growth rank is 8 out of 10, and its revenue has increased by approximately 8.00% per year on average. The company’s 3-year EPS growth rate is approximately 5.30% per year on average, and its 5-year EBITDA growth rate is 13.80%. Overall, Best Buy Co Inc’s consistent dividend payments, manageable payout ratio, and solid profitability and growth metrics make it a promising investment for dividend-seeking investors.