Press Release: Best Buy Announces Regular Quarterly Cash Dividend
Sept. 14, 2005--The Board of Directors of Best Buy
Co., Inc. (NYSE:BBY) has authorized payment of a regular quarterly cash dividend
of 8 cents per common share. The quarterly dividend is payable on Oct. 25, 2005,
to shareholders of record as of the close of business on Oct. 4, 2005. The
company had 492,443,888 shares of common stock issued and outstanding as of Aug.
27, 2005.
Best Buy announced in June 2005 that its Board had
approved a three-for-two split of the company's common shares. At that time, the
company also increased the quarterly cash dividend rate by 9 percent, from 11
cents per share to 12 cents per share, on a pre-split basis, effective with the
cash dividend payable on Oct. 25, 2005. The quarterly cash dividend rate on a
post-split basis is 8 cents per share.
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE:BBY) is an innovative Fortune
100 growth company that continually strives to create superior customer
experiences. Through more than 870 retail stores across the United States and in
Canada, our employees connect customers with technology and entertainment
products and services that make life easier and more fun. We sell consumer
electronics, home-office products, entertainment software, appliances and
related services. A Minneapolis-based company, our operations include: Best Buy
(BestBuy.com and BestBuyCanada.ca), Future Shop (FutureShop.ca), Geek Squad
(GeekSquad.com) and Magnolia Audio Video (Magnoliaav.com). We support our
communities through employee volunteerism and grants from The Best Buy
Children's Foundation.
Posted: Wed - September 14, 2005 at 09:42 AM