8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 18, 2004

BEST BUY CO., INC.

(Exact name of registrant as specified in its charter)

Minnesota	1-9595	41-0907483
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
7601 Penn Avenue South Richfield, Minnesota		55423
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code  (612) 291-1000
N/A
(Former name or former address, if changed since last report.)

Item 5. Other Events and Regulation FD Disclosure.

On June 18, 2004, Best Buy Co., Inc. issued a press release announcing the declaration of a regular quarterly cash dividend. The press release issued on June 18, 2004, is filed as Exhibit No. 99 to this Report.

Item 7. Financial Statements and Exhibits.

(c) Exhibits.

The following is filed as an Exhibit to this Report.

Exhibit No.	Description of Exhibit
99	Press release issued June 18, 2004. Any internet addresses provided in this release are for information purposes only and are not intended to be hyperlinks. Accordingly, no information in any of these internet addresses is included herein.

Best Buy Co., Inc.’s Annual Report to Shareholders and its reports on Forms 10-K, 10-Q and 8-K and other publicly available information should be consulted for other important information about the registrant.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BEST BUY CO., INC.
	(Registrant)
Date: June 21, 2004	By:	/s/ Bruce H. Besanko
		Bruce H. Besanko
		Vice President – Finance

3

EX-99

Exhibit No. 99

For Immediate Release

Media Contacts:	Investor Contacts:
Sue Busch, Director of Corporate PR	Shannon Burns, Senior Investor Relations Manager
(612) 291-6114 or susan.busch@bestbuy.com	(612) 291-6126 or shannon.burns@bestbuy.com

Best Buy Announces Regular Quarterly Cash Dividend

MINNEAPOLIS, June 18, 2004 – The Board of Directors of Best Buy Co., Inc. (NYSE: BBY) has declared a regular quarterly cash dividend of 10 cents per common share.  The next quarterly dividend is payable on July 28, 2004, to shareholders of record as of the close of business on July 7, 2004.  The company had 324,845,204 shares of common stock issued and outstanding as of May 29, 2004.

About Best Buy Co., Inc.

Minneapolis-based Best Buy Co., Inc. (NYSE: BBY) is North America’s leading specialty retailer of consumer electronics, home-office products, entertainment software, appliances and related services. The company’s subsidiaries operate retail stores and/or Web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com), and Magnolia Audio Video (Magnoliaav.com). The company’s subsidiaries reach consumers through more than 750 stores in the United States and Canada.

# # #