PALO ALTO, Calif. - HP Inc. (NYSE:HPQ), a prominent technology company, announced today that it will pay a cash dividend of $0.2756 per share on its common stock. This dividend, which marks the third of the company's fiscal year 2024, is scheduled to be distributed on July 3, 2024, to shareholders who are on record by the close of business on June 12, 2024.
With around 1.0 billion shares of common stock outstanding, this announcement follows HP's regular practice of returning value to its shareholders. The company has a history of consistent dividend payments, reflecting its financial health and commitment to its investors.
HP Inc. operates globally in over 170 countries and is known for a wide array of products and services, including personal computing, printing, 3D printing, and solutions for hybrid work and gaming. The company's innovations are aimed at enabling users to materialize their ideas and maintain connectivity to essential aspects of their professional and personal lives.
This financial move by HP is part of its broader strategy to maintain a stable return for its investors while continuing to invest in the technology and services that drive its business forward.
The information in this article is based on a press release statement from HP Inc.
InvestingPro Insights
As HP Inc. (NYSE:HPQ) continues to reward its shareholders with consistent dividend payments, it's important to look at the company's financial health through various lenses. According to InvestingPro data, HP Inc. boasts a market capitalization of $30.69 billion and a P/E ratio of 9.08, which suggests that the stock is trading at a low price relative to near-term earnings growth. This aligns with the company's strategy of providing stable returns to its investors, as indicated by the recent dividend announcement.
InvestingPro Tips highlight that HP Inc. has raised its dividend for seven consecutive years and has maintained dividend payments for an impressive 54 consecutive years, emphasizing the company's commitment to shareholder yield. Moreover, the company's stock is generally characterized by low price volatility, offering a sense of reliability in a fluctuating market.
For investors looking for deeper insights and additional InvestingPro Tips, there are 10 more tips available for HP Inc. at https://www.investing.com/pro/HPQ. These tips could provide valuable information for making informed investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering even more data and analytics to guide your investment journey.
With a robust revenue of $53.1 billion over the last twelve months as of Q1 2024, despite a revenue decline of 11.02% during the same period, HP Inc. demonstrates significant scale in its operations. The company's gross profit margin stands at 21.86%, which, although indicative of weaker gross profit margins as per one of the InvestingPro Tips, still reflects a substantial profitability factor. These figures underscore the company's ability to generate shareholder value while navigating the competitive technology industry.
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