Updated: March 20, 2014 7:52AM
PALO ALTO, Calif. — Hewlett-Packard says its board has approved a 10 percent increase to its regular quarterly cash dividend.
The new dividend of 16 cents will be effective when HP’s board declares the computer company’s next dividend, which is expected to happen in May.
HP’s next dividend, which is set to be paid on April 2 to shareholders of record as of March 12, will not be increased and will remain at 14.52 cents.
Shares of Palo Alto, Calif.-based Hewlett-Packard Co. edged up 3 cents to $31.65 in premarket trading.