Shares of Best Buy were gaining 1.8% to $29.32.
The new dividend is an 11.8% increase from the retailer's previous, and is Best Buy's first dividend increase since 2012. The dividend is payable on Oct. 2 to all shareholders of record as of the close of business on Sept. 11. The ex-dividend date is Sept. 9.
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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