HP Inc hikes dividend by 5% in 2024
HP Inc. (NYSE: HPQ) has declared a 5% increase in its quarterly dividend, continuing its streak of 14 consecutive years of dividend growth. The company, which has been paying dividends since 1989, remains committed to rewarding shareholders through consistent payouts.
The new dividend will amount to $0.289 per share on a quarterly basis, bringing the annual payout to $1.16 per share. At the current stock price of $34.75, this represents a dividend yield of 2.8%, an attractive figure for income-focused investors. Shareholders who hold the stock as of the ex-dividend date, December 11, 2024, will qualify for the upcoming payout.
Since it began paying dividends in 1989, HP has maintained a focus on rewarding its shareholders, even in the face of industry shifts and broader economic challenges. Over the past five years, the company’s dividend has grown at a compound annual growth rate (CAGR) of 10.4%, with an even more impressive 14.8% CAGR over the past decade. This consistent growth reflects HP’s strong cash generation and disciplined approach to capital allocation.
The announcement comes during a year of notable performance for HP’s stock. With a year-to-date total return of 33.2%, the company has delivered solid results for its investors, combining both capital appreciation and regular income. As a leader in the printers and PCs market, HP continues to navigate a highly competitive landscape while maintaining a focus on profitability and innovation.
The dividend increase underscores HP’s confidence in its financial stability and its ability to sustain payouts in the future. With its long history of dividend payments and growth, HP remains a key player in the technology sector, recognized for its balance between reinvestment in its core business and returning value to shareholders. HPQ also did 5% dividend hikes in both 2023 and 2022.
Another stock announcing a dividend hike today is Global Water Resources.
HP Inc. is a provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The company sells to individual consumers, small- and medium-sized businesses (“SMBs”) and large enterprises, including customers in the government, health and education sectors. The original HP was incorporated in 1947 under the laws of the state of California as the successor to a partnership founded in 1939 by William R. Hewlett and David Packard. The company went public on November 6, 1957.
