HP Raises Annual Dividend by 5%, Provides FY24 Outlook & More
Portfolio Pulse from Lekha Gupta
HP Inc (HPQ) has provided an FY24 outlook, updated on its cost-saving initiatives, and raised its annual dividend by 5% to $1.1024 per share. The company expects an adjusted EPS of $3.25-$3.65 and FCF of $3.1 billion-$3.6 billion for FY24. HPQ plans to return about 100% of FCF through dividends and share repurchases. The company also anticipates increasing its Future Ready plan annualized gross run rate structural cost savings by $200 million to $1.6 billion by the end of FY25.
October 11, 2023 | 10:50 am
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HP Inc (HPQ) has raised its annual dividend by 5% and provided an FY24 outlook. The company plans to return about 100% of FCF through dividends and share repurchases.
The increase in dividend and the plan to return 100% of FCF through dividends and share repurchases are positive signals for investors, which could lead to an increase in the stock price. The company's FY24 outlook and cost-saving initiatives also provide a positive outlook for the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100