Best Buy Co. Inc.

Best Buy Co. Inc. (BBY - Analyst Report) recently declared a dividend of 14 cents per share, noting that it is payable on July 28 to shareholders of record as of the close of business on July 7. The retailer offers an industry-leading yield of 2%.

Company Description

Best Buy is a well-known multinational retailer of consumer electronics, home office products, entertainment software, appliances and related services in the United States, Canada, Europe, Mexico and China. Best Buy family of brands and partnerships collectively generate more than $45 billion of annual revenue.

Solid Income

The tech and entertainment retailer declared a dividend of 14 cents per share, noting that it is payable on July 28 to shareholders of record as of the close of business on July 7. Best Buy offers an industry-leading yield of 2%.

Earnings Topped Estimates

The company reported fiscal first-quarter adjusted earnings of 42 cents per share, slightly below the previous year’s 43 but 24% ahead of the consensus estimate. Best Buy outpaced analysts’ forecasts by an average of 13% over the past 4 straight quarters.

Revenue came in at $10,095, exceeding the year-prior $8,990.

Upward Estimate Revisions

The retailer continues to see bullish estimates. Analysts are calling for earnings of $2.82 per share for the year ending February 2010, up from last month’s forecasts of $2.35. For the following year, the consensus projection of $3.11 per share was increased from $3.06 over the past month.

Favorable Industry Comparisons

Best Buys offers a return on equity (ROE) of 35%, beating the industry average of 22. The company also boasts a strong balance sheet with no debt.