The company also held its annual shareholder meeting in Richfield Thursday.
Editor's Note: The following was taken from a Best Buy press release. Best Buy's Board of Directors approved the company's new quarterly cash dividend of $0.17 cents per common share, which represents an increase of one cent per quarter, or 6 percent. The one cent increase is consistent with the quarterly dividend increase in each of the prior three years. The change will be effective with the quarterly dividend which, if authorized, would be payable on Oct. 2, 2012 to shareholders of record as of Sept. 11, 2012. Shareholder Meeting Held Today Best Buy held its regular meeting of shareholders Thursday at the Best Buy corporate campus in Richfield. The meeting was also webcast and a replay is available investors.bestbuy.com.