Business & Finance
News
5/28/2004
04:23 PM
50%
50%

HP Sets $2 Billion Stock Buyback

The company's board also declared the third cash dividend in the current fiscal year.

Hewlett-Packard on Friday announced a $2 billion stock buyback.

The company said it intends to repurchase shares "opportunistically as a means of returning cash to its shareholders, as well as offsetting dilution from the issuance of shares under employee benefit plans."

"HP continues to generate strong cash flow from operations, with over $2.6 billion in the second quarter alone," Bob Wayman, executive VP and CFO, said in a statement. "This new authorization represents a strong vote of confidence in HP's future."

HP's board also declared a regular cash dividend of 8 cents per share on the company's common stock. The dividend, the third in the current fiscal year, is payable on July 7, to shareholders of record as of the close of business on June 16. HP has approximately 3 billion shares of common stock outstanding.

Comment  | 
Print  | 
More Insights
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest, Dec. 9, 2014
Apps will make or break the tablet as a work device, but don't shortchange critical factors related to hardware, security, peripherals, and integration.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of December 14, 2014. Be here for the show and for the incredible Friday Afternoon Conversation that runs beside the program.
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.