Best Buy Dividend
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MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.88 per common share. The quarterly dividend is payable on April 14, 2022, to shareholders of record as of the close of business on March 24, 2022. The company had 227,442,598 shares of common stock issued and outstanding as of January 29, 2022.
MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.88 per common share. The quarterly dividend is payable on July 5, 2022, to shareholders of record as of the close of business on June 14, 2022. The company had 224,621,941 shares of common stock issued and outstanding as of April 30, 2022.
A high yield and a long history of paying dividends is an appealing combination for Best Buy. It would not be surprising to discover that many investors buy it for dividends. The company also bought back stock equivalent to around 16% of market capitalization this year. When buying stocks for their dividends, you should always run through the checks below to see if the dividend looks sustainable.
Best Buy paid out 44% of its profit as dividends over the trailing 12-month period. This is a medium payout level that leaves enough capital in the business to fund opportunities that might arise, while also rewarding shareholders. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend.
Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. The company paid out 89% of its free cash flow as dividends last year , which is adequate but reduces the wriggle room in the event of a downturn. This is surprising to see given that BBY has a rather high return on capital . However, it is possible that the company decided that raising the dividend is the best option in the current monetary environment .
It's positive to see that Best Buy's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. We update our data on Best Buy every 24 hours, so you can always get our latest analysis of its financial health, here.
The dividend has been stable over the past 10 years, which is great. During that period, the first annual payment was US$0.6 in 2012, compared to US$3.5 last year. This works out to be a compound annual growth rate (CAGR) of approximately 19% a year over that time. With rapid dividend growth and no notable cuts to the dividend over a lengthy period of time, this is a solid perspective for a dividend stock.
While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. It's good to see Best Buy has been growing its earnings per share by 15% a year over the past five years.
Best Buy is experiencing some sales decline as a response to the aggressive monetary policy that is obviously pressing brakes on discretionary spending. In turn, the company is investing in strengthening its brand and working on consumer retention - but also shareholder retention, given the stability and growth of its dividend.
Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Just as an example, we've come across 3 warning signs for Best Buy you should pay attention to if considering this dividend stock.
Here's how we found the best blue chip dividend stocks to buy now. Using data from S&P Global Market Intelligence, we screened the Dow Jones Industrial Average for Wall Street analysts' highest-rated blue chip dividend stocks, but this time with dividend yields of at least 1.0%. (We lowered the bar on the income component because of the market's shift back towards growth.)
That led us to the following five blue chip dividend stocks, which we list below by strength of analysts' consensus recommendations, from lowest to highest conviction. (Market data and analysts' ratings are as of March 2.)
Although the discount chain might not wow anyone with its dividend yield, its commitment to payout growth is as solid as they come. This member of the S&P 500 Dividend Aristocrats has increased its disbursement annually for 50 consecutive years and counting.
The term dividend capture refers to an investment strategy that focuses on buying and selling dividend-paying stocks. It is a timing-oriented strategy used by an investor who buys a stock just before its ex-dividend or reinvestment date to capture the dividend.
where: P0 = current price of share of Best Buy Co. Inc. common stock D0 = the last year dividends per share of Best Buy Co. Inc. common stock r = required rate of return on Best Buy Co. Inc. common stock
Dividends can be a great way to give your investment portfolio a boost of income, which is something many people are looking for during periods of high inflation and amid talk of a possible recession. Dividend stocks or dividend funds can help you earn regular passive income from some of the strongest companies in the economy.
IBM is one of the largest tech companies in the U.S. and earns more than two-thirds of its revenue from software and consulting services. The Armonk, New York-based company has paid a dividend for over 100 consecutive years.
AT&T is another telecommunications leader that generates solid cash flow for shareholders. Recently, the company has divested some assets and cut its dividend by nearly half as it focuses on 5G investments and paying down its heavy debt load.
Walgreens Boots Alliance operates retail pharmacies across the U.S., Europe and Asia. Its U.S. pharmacy business administered about 35 million COVID-19 vaccinations in its 2022 fiscal year. The company has a dividend history that dates back to 1989.
3M manufactures a variety of products that are used by businesses and consumers alike. The St. Paul, Minnesota-based company makes everything from building materials, electronics components and orthodontics to perhaps its best-known product: Scotch tape. 3M has paid a dividend to shareholders without interruption for more than 100 years.
The S&P 500 has slumped to open 2022, and rising interest rates could further pressure stock valuations in coming months. Whether the market is up, down or sideways, dividends are one steady, reliable source of income for investors, but dividends are only as reliable as the companies that pay them.
Analyst Jeffrey Spector says Simon's guidance is conservative considering the company has several tailwinds, including record leasing volume, low floating debt rate exposure relative to peers and storing retailer demand for physical stores. In addition, Simon recently announced a new $2 billion share buyback program. The stock pays a 6% dividend.
First, he says AT&T is betting its network and other improvements are worth customers paying more. Second, AT&T is betting that Verizon Communications Inc. (NYSE:VZ) and T-Mobile Us Inc (NASDAQ:TMUS) won't respond to the price hike with an aggressive marketing push to lure aggrieved customers away. AT&T shares pay a 5.4% dividend.
Verizon Communications Inc. (NYSE:VZ)Verizon is one of AT&T's two largest competitors and is another attractive dividend stock that Barden recommends. He says Verizon has an extremely defensible subscriber base and is more profitable than its largest competitors.
In addition, he says Verizon has a stronger balance sheet following asset divestitures and is well-positioned to generate earnings growth outpacing its rivals. Barden estimates 2022 free cash flow of more than $16 billion for Verizon and says normalized annual free cash flow in future years should be even higher. Verizon pays a 5.1% dividend.
Analyst Wamsi Mohan says IBM's portfolio has been resilient in a slowing macro environment. After a recent call with IBM management, Mohan says tech spending should outpace GDP growth, and IBM should see elevated European demand until the conflict in Ukraine is resolved. In addition, Mohan says IBM's revenue growth should stabilize now that half of its revenue streams are recurring. IBM shares pay a 5.1% dividend.
Analyst Lisa Lewandowski says the global cigarette market is facing secular volume pressures, but Philip Morris is making the necessary adjustments to its business by shifting productivity away from Russia and pivoting to other high-potential markets and shifting customers to higher-margin cigarette alternatives. The stock also has an attractive 4.9% dividend yield.
Retailers have had a rough first quarter earnings season, and analyst Elizabeth Suzuki says Best Buy is facing a more modest growth outlook and discretionary spending risks in the near-term. Fortunately, with the stock down more than 50% from recent highs, Suzuki says Best Buy shares are fully pricing in its potential 2022 earnings growth deceleration. In addition, she says Best Buy remains a market leader in electronics, and the stock pays a sizable 4.8% dividend.
The energy sector is one of the few silver linings in a brutal market so far this year, and Williams shares are actually up 35.9% year-to-date as energy and natural gas prices have soared. Even after the big run, analyst Chase Mulvehill says there is more upside ahead for Williams. He says Williams' transmission business is an excellent growth opportunity, and the company is well-positioned to benefit from dry gas production growth in the Haynesville shale and Northeast region. Williams pays a 4.8% dividend.
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