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March 1 (Reuters) - Best Buy Co Inc
* Best Buy Co Inc - two-year $3 billion share repurchase plan
* Best BUY CO INC - 21 pct increase in quarterly dividend to $0.34 per share
* Best Buy Co Inc - board of directors approved a new $5 billion share repurchase authorization for company's common stock
* Best Buy Co Inc - company is targeting a non-GAAP dividend payout ratio between 35 pct and 45 pct.
* Best Buy Co - new $5 billion share repurchase authorization supersedes existing authorization dated June 2011 which had $2.2 billion in purchases remaining Source text for Eikon: Further company coverage: