Company News
22% Increase in Quarterly Dividend to $0.28 per Share
New $1 Billion Share Repurchase Program over Two Years
Special Dividend of $0.45 per Share or Approximately $145 Million
MINNEAPOLIS, February 25, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced that its Board of Directors authorized a plan to return excess capital to shareholders as follows:
- A 22% increase in the regular quarterly dividend to $0.28 per share, effective immediately;
- A new $1 billion share repurchase plan expected to be completed over the next two years; and
- A special dividend of $0.45 per share, or approximately $145 million; related to the net after-tax proceeds from certain legal settlements and asset disposals.
Non-GAAP Diluted EPS from Continuing Operations Increased 3% to $1.53
GAAP Diluted EPS from Continuing Operations Decreased 5% to $1.39
Domestic Segment Revenue Decreased 1.5%
Repurchased $615 million in Stock for a Fiscal 2016 Total of $1 billion
MINNEAPOLIS, February 25, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (“Q4 FY16”) and year ended January 30, 2016 (“FY16”), as compared to the fourth quarter (“Q4 FY15”) and year ended January 31, 2015 (“FY15”). PDF Version.
Best Buy is looking for nonprofits and other organizations who want to partner in giving youth the opportunities to develop tech skills that will inspire future education and career choices.
Groups are invited to submit an application to host a Geek Squad Academy camp this summer.
Now in its 10th season, Geek Squad Academy from Best Buy partners with local organizations to expose students ages 10-18 to the latest technology in a fun, interactive setting. But this isn’t your average camp.