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HP ups dividend by 10%

The company raises its quarterly dividend, amid shareholder displeasure over the buyout of software firm Autonomy.

By Reuters
Johannesburg, 22 Mar 2013

Hewlett-Packard raised its quarterly dividend by 10% on Thursday, amid shareholder displeasure over the company's $11 billion acquisition of British software firm Autonomy.

HP has said it intended to increase its regular dividend annually and that the increase would be in the double digits.

The current increase to 14.52c per share is expected to be effective as of May, the company said.

HP has about two billion shares of common stock outstanding.

HP's previously announced dividend, payable on 3 April, remains at 13.2c per share.

Before that it had paid a quarterly dividend of 12c per share, up from 8c a share.

HP's dividends, which it has been paying since 1992 according to its Web site, have been steadily increasing.

On Wednesday, HP's shareholders re-elected the company's board, but chairman Ray Lane and three others only narrowly kept their seats after criticism about their roles in the purchase of Autonomy.

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