HP ON Tuesday forecast fiscal 2024 earnings largely in line with estimates and raised its annual dividend, sending its shares up more than 2 per cent in trading after the bell.

The PC maker also forecast fiscal 2024 free cash flow of US$3.1 billion to US$3.6 billion and expects to return about 100 per cent of it to shareholders through dividends and share repurchases.

The board has approved an increase to the planned dividend amount to US$1.10 per share, reflecting a 5 per cent increase from the prior dividend, the company said.

The company expects its 2024 adjusted earnings in the range of US$3.25 to US$3.65 per share. REUTERS