DOW JONES NEWSWIRES Hewlett-Packard Co. (HPQ) increased its quarterly dividend by 10%, adding a technology heavyweight to the list of corporations that have raised payouts to shareholders in recent months. H-P said the change won't go into effect until it declares its quarterly dividend in May. A dividend slated to pay out next month will remain at 12 cents a share. A 1.2-cent increase to 13.2 cents a share would cost the company about $95 million more each year. Many companies have introduced higher dividends and other shareholder-friendly initiatives in recent months in an effort to woo stockholders. H-P's payout boost comes after the company on Wednesday provided details about a sweeping plan to fold its once-dominant printing business into its PC-making personal systems group. That marked a reversal from the company's highly publicized plans to spin off its PC business, an option the company had considered as late as August. The new corporate structure is the latest in a string of recent upheavals at the company that have spooked many investors. Shares were recently off a penny at $23.62 after hours. The stock has fallen 44% over the past year. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com
