Best Buy Co (BBY) will raise its quarterly dividend by 10.0 percent to $0.55 per share in 2020. This follow's last year's 11.1 percent dividend hike by the provider of technology products, services and solutions.

The next quarterly dividend will be payable on April 9, 2020, to shareholders of record as of the close of business on March 19, 2020. A new annualized rate of $2.20 per share yields 2.9% at a stock price of $75.65. Best buy has now increased its annual dividend payment for 17 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.