CORRECTED-UPDATE 1-HP board increases dividend by 10 percent

Thu Mar 21, 2013 8:38am EDT

(Corrects date when dividend will be effective)

March 21 (Reuters) - Hewlett-Packard Co raised its quarterly dividend by 10 percent on Thursday, amid shareholder displeasure over the company's $11 billion acquisition of British software firm Autonomy Plc.

HP has said it intended to increase its regular dividend annually and the current increase to 14.52 cents per share is expected to be effective as of May 2013, the company said.

HP has about 2 billion shares of common stock outstanding.

HP's previously announced dividend, payable on April 3, remains at 13.2 cents per share.

On Wednesday, HP's shareholders re-elected the company's board, but Chairman Ray Lane and three others only narrowly kept their seats after criticism about their roles in the purchase of Autonomy. (Reporting By Nicola Leske; Editing by Gerald E. McCormick)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.