Dividend Contenders List: Top 15

7. Best Buy Co., Inc. (NYSE:BBY)

Dividend Yield as of March 12: 5.23%

Best Buy Co., Inc. (NYSE:BBY) is an American consumer electronics company that deals in a wide range of related products and services. In the fourth quarter of FY25, the company posted revenue of $13.9 billion, reflecting a 4.7% decline from the previous year. The company continues to strengthen its presence as a top omni-channel technology retailer while working to improve its operating income rate. In addition, it is expanding new revenue streams, such as Best Buy Marketplace and Best Buy Ads, which are expected to drive future growth.

Best Buy Co., Inc. (NYSE:BBY) is also focusing on enhancing its service offerings, particularly through the expansion of its Geek Squad operations and deeper involvement in the healthcare sector. These initiatives not only support product sales but also contribute to higher margins and stronger customer retention. Meanwhile, the company remains committed to efficient inventory and supply chain management to adapt to changing market conditions and meet consumer demand effectively.

From a financial standpoint, Best Buy Co., Inc. (NYSE:BBY) maintained a solid cash position to support its dividend program. It ended the quarter with roughly $1.6 billion in cash and cash equivalents, while its operating cash flow for FY25 exceeded $2 billion, up from $1.4 billion the previous year. Recently, the company announced a 1.1% increase in its quarterly dividend to $0.95 per share, marking its 12th consecutive year of dividend growth. With a dividend yield of 5.23% as of March 12, BBY is one of the best stocks on our dividend contenders list.