By Sabela Ojea
HP raised its annual payout to shareholders, citing views for long-term sustainable growth.
The computer and printer maker on Tuesday declared an annual dividend of $1.1024 per share, up by 5%.
HP said it expects free cash flow of $3.1 billion to $3.6 billion in fiscal 2024 based on the current environment. The company expects to return nearly all that free cash flow to shareholders through dividends and share repurchases.
For fiscal 2024 ending in October of next year, HP expects to report earnings per share of $2.75 to $3.15 and adjusted EPS of $3.25 to $3.65. Analysts polled by FactSet had forecast full-year earnings per share and adjusted earnings per share of $3.21 and $3.48, respectively.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
Read the full article here