HP forecasts 2024 profit in line with estimates, boosts annual dividend
Companies such as HP, Lenovo and Dell Technologies have seen demand ease from peaks hit during the pandemic, when work-from-home trends drove up sales of laptops and other electronic devices. The PC maker also forecast fiscal 2024 free cash flow of $3.1 billion to $3.6 billion and expects to return about 100% of it to shareholders through dividends and share repurchases. The board has approved an increase to the planned dividend amount to $1.10 per share, reflecting a 5% increase from the prior dividend, the company said.