Best Buy Co (BBY) will raise its quarterly dividend by 11.1 percent to $0.50 per share in the first quarter of 2019. This follow's last year's $0.11 per share dividend increase to 45 cents quarterly.

The increased quarterly dividend is payable on April 10, 2019, to shareholders of record as of the close of business on March 20, 2019. A new annualized rate of $2.00 per share yields 2.9% at the current stock price. Best buy has now increased its annual dividend payment for sixteen consecutive years.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. Best Buy has two reportable segments: Domestic and International with operations in the United States, Canada and Mexico. Best Buy was incorporated in the state of Minnesota in 1966 and has paid a dividend every year since 2003.