The struggles faced by Best Buy, an electronic retailer based on United States are a thing of past as it posted having made satisfactory profits due to cost cuts and new strategies.
The company have successfully managed to beat the estimation of the Wall Street earnings by 13 cents. The quarterly dividend rose by 21% to 23 cents from 19 cents per share. The company also made it clear that it would recapture back its 1 billion shares within 2018. The shares were recently being traded near $39, bringing the stocks back into a positive figure.
The retailer plans to pay the shareholders 51 cents per share which will be taken from the earnings made from a number of legal settlements. One of them includes, the legal matter related to LCD prices sold in US.
The authority of the company is very confident about the current financial position the company is in. However, the stock prices of the company are at a bargain for investors who are looking for a worthwhile return on investments.
Best Buy’s earnings have also climbed to 4% from 1.30 per share. They have delivered earning equivalent to $14.21billion in the fourth quarter and has beaten some prominent retailers like Wal-Mart.