Late Tuesday, HP Announced A 5% Increase To Its Annual Dividend, Amounting To $1.1024 Per Share
Portfolio Pulse from Benzinga Newsdesk
HP Inc. has announced a 5% increase to its annual dividend, amounting to $1.1024 per share. The company plans to return approximately 100% of free cash flow through dividends and share repurchases in fiscal 2024. The company's CFO, Marie Myers, expressed confidence in the company's plans to grow non-GAAP diluted net EPS and free cash flow in FY24 and beyond.
October 11, 2023 | 6:02 am
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POSITIVE IMPACT
HP Inc.'s announcement of a 5% increase in its annual dividend and plans to return 100% of free cash flow through dividends and share repurchases in FY24 could potentially attract investors, leading to a positive impact on its stock price.
Dividend increases are generally seen as a sign of a company's strong financial health. A company that consistently increases its dividends may attract more investors, which could potentially lead to an increase in demand for its shares and subsequently, its stock price. Additionally, the company's plan to return 100% of free cash flow through dividends and share repurchases in FY24 signals its confidence in its financial stability and growth prospects, which could further boost investor sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100