Yesterday was a monumental day for Hewlett-Packard (HPQ) investors. After decades of waiting, the new CEO has hinted that the future looks bright for those who want to get their hands on the business profits in the form of a dividend.
HP announced that it would increase its dividend for the first time in over a decade. And it will do so with flair, as the bump is 50% higher than where it has been-- to .12 cents per share from .08 cents. More importantly, Cathie Lesjak, HP's Chief Financial Officer, stated that HP plans on increasing the dividend by a double-digit percentage every year. So the current yield goes from .80% to 1.2%, and then HP plans to raise that by double digits every year.
With HP not gaining momentum as quickly as other companies, can it truly afford to raise its dividend at this kind of a rate
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