HP hikes dividend by 10 per cent

Hewlett-Packard Co. raised its quarterly dividend by 10 per cent on Thursday, amid shareholder displeasure over the company's $11-billion (U.S.) 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 2012, 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.