Special Dividend of $0.51 per Share or Approximately $180 Million
21% Increase in Quarterly Dividend to $0.23 per Share
$1 Billion in Share Repurchases over Three Years
MINNEAPOLIS — March 3, 2015 — 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 special, one-time dividend of $0.51 per share, or approximately $180 million, related to the net after-tax proceeds from LCD-related legal settlements received in the last three fiscal years;
- A 21% increase in the regular quarterly dividend to $0.23 per share, effective immediately; and
- The resumption of share repurchases under the existing $5 billion authorization, with the intent to repurchase $1 billion worth of shares over the next three years.