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Article: HP Board Authorizes Additional $2 Billion for Share Repurchases, Declares Regular Dividend.
- Article from:
- Business Wire
- Article date:
- May 28, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/High-Tech Writers
PALO ALTO, Calif.--(BUSINESS WIRE)--May 28, 2004
The board of directors of HP (NYSE:HPQ) (Nasdaq:HPQ) today authorized up to $2 billion in additional repurchases of its outstanding shares of common stock.
The company intends to use the authorization 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. This new authorization represents a strong vote of confidence in ...