Hewlett-Packard Raised Dividend by 10%

It is facing shareholder anger over losses from a failed merger

   

Hewlett-Packard corporate buildingComputer equipment giant Hewlett-Packard (NYSE:HPQ) is giving shareholders a gift.

The company announced on Thursday that it will increase its quarterly dividend by 10%. The followed the re-election of HP’s current board of directors by a very narrow margin on Wednesday. Reuters noted.

6 Companies Increasing Dividends
6 Companies Increasing Dividends

Shareholders have been incensed over losses stemming from HP’s disastrous 2011 acquisition of British software maker Autonomy. The company subsequently wrote down the value of Autonomy, for which it paid $11 billion, by $8.8 billion, and accused Autonomy of misleading accounting practices.

Both the U.S. Justice Department and FBI are said to be investigating financial reporting irregularities related to the Autonomy acquisition.

The dividend increase becomes effective in May.

Shares of Hewlett-Packard in Thursday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/hewlett-packard-raised-dividend-by-10/.

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