LONDON, UK / ACCESSWIRE / June 11, 2018 / Active-Investors has a free review on HP Inc. (NYSE: HPQ) following the Company's announcement that it will begin trading ex-dividend on June 12, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on June 11, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on HPQ:
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On May 14, 2018, HP's Board of Directors declared a cash dividend of $0.1393 per share on its common stock. The dividend, the third in HP's fiscal year 2018, is payable on July 05, 2018, to stockholders of record as of the close of business on June 13, 2018.
HP's indicated dividend represents a yield of 2.37%, which is more than double compared to the average dividend yield of 1.07% for the Technology sector.
HP has a dividend payout ratio of 27.9%, which denotes that the Company spends approximately $0.28 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, HP is forecasted to report earnings of $2.13 per share for the next year, which is more than triple compared to the Company's annualized dividend payout of $0.56 per share.
HP's net cash provided by operating activities in the second quarter of fiscal 2018 was $1.1 billion. The Company generated $937 million of free cash flow in the reported quarter. HP's dividend payment of $0.1393 per share in Q2 FY18 resulted in cash usage of $0.2 billion, while the Company also utilized $0.8 billion of cash during the reported quarter to repurchase approximately 35.4 million shares of common stock in the open market. As a result, the Company returned 110% of its free cash flow to shareholders in Q2 FY18. HP exited the quarter with $5.3 billion in gross cash. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for HP
On May 29, 2018, HP announced that Steve Fieler has been named Chief Financial Officer, effective July 01, 2018. He will succeed Cathie Lesjak, who will assume the role of interim Chief Operating Officer.
Fieler is a seasoned executive with more than 20 years of experience. He currently leads the Company's treasury and corporate finance functions where he is responsible for managing cash, debt, risk management, and capital structure as well as financial planning and analysis, investor relations, credit and collections, and corporate development. An 11-year HP veteran, he served in a range of finance and operational roles at the Hewlett Packard Co. prior to the November 2015 separation.
About HP Inc.
HP Inc. provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. The Company was formerly known as Hewlett-Packard Co. and changed its name to HP Inc. in October 2015.
HP Inc. was founded in 1939 and is headquartered in Palo Alto, California.
Stock Performance Snapshot
June 08, 2018 - At Friday's closing bell, HP's stock slightly rose 0.68%, ending the trading session at $23.71.
Volume traded for the day: 6.78 million shares.
Stock performance in the last month – up 5.00%; previous six-month period – up 12.80%; past twelve-month period – up 29.70%; and year-to-date – up 12.85%
After last Friday's close, HP's market cap was at $38.59 billion.
Price to Earnings (P/E) ratio was at 18.57.
The stock has a dividend yield of 2.36%.
The stock is part of the Technology sector, categorized under the Diversified Computer Systems industry. This sector was up 0.2% at the end of the session.
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