Dividend Increase – HPQ

HPQ announced a new quarterly dividend of $0.176 up from $0.16. This represents a 10% increase. The increased dividend is payable from July this year. The new dividend represents a yield of 2.15% based on current price. I hold 205 shares and this increases by projected annual dividends by $13.12, from $131.20 to $144.32.

HPQ is not a typical dividend income stock. I got the stock way back primarily as a growth stock. HPQ’s share price has dropped significantly in the last couple of months from touching a high of about $40 to little over $32 now.  HPQ has announced its plan to split into two companies (one focused on PCs and Printers and another focused on IT services) and this is supposed to happen later this year. Will have to wait and see what dividends are going to be paid going forward.

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