HP Inc. - HPQ STOCK NEWS

HP Inc. has launched HP Amplify, a new global channel partner program set to start on November 1, 2020, aimed at enhancing partner growth and improving customer experiences. The program simplifies access to tools and rewards partners for their performance, with two distinct tracks: Synergy and Power. HP Amplify focuses on digital transformation, offering data-driven insights and collaboration tools. Additionally, it promotes sustainability through the HP Amplify Impact initiative, which emphasizes a commitment to a low-carbon economy and community support.

HP Inc. (HPQ) has deployed its D300e BioPrinters to four major research facilities in the U.S. and Europe at no cost, aiming to boost drug and vaccine research against COVID-19. The facilities include the Spanish National Research Council, University of Houston's CNRCS, Fondazione Toscana Life Sciences, and Grenoble Alpes University Hospital. This initiative is part of HP's broader commitment, which includes $8 million in technology and grants to support COVID-19 relief efforts. The BioPrinters facilitate the precise dispensing of pharmaceutical samples and are expected to enhance research efficiency.

The Board of Directors of HP Inc. (NYSE: HPQ) has approved the acceleration of the expiration date for its shareholder rights plan, terminating it as of June 25, 2020. This plan was initially set to expire on February 20, 2021. Chair Chip Bergh stated that the termination aligns with HP's current corporate governance practices, noting that there is no longer a threat of a hostile tender offer against the company. The board concluded that maintaining the plan was no longer appropriate.

The HP Inc. board has declared a cash dividend of $0.1762 per share on its common stock. This marks the fourth dividend for fiscal year 2020. The payment will be made on October 7, 2020, to shareholders on record as of September 9, 2020. HP has around 1.4 billion shares of common stock outstanding, reflecting ongoing shareholder returns and financial stability.

HP Inc. reported significant progress in its sustainability initiatives, driving over $1.6 billion in new sales in FY19, a 69% increase from the previous year. The company advanced its diversity agenda with 63% of U.S. hires from underrepresented groups and a commitment to double the number of Black executives by 2025. $698 million was generated through its Supplier Diversity Program. Additionally, HP pledged to eliminate 75% of plastic packaging by 2025 and expanded its Sustainable Forests Collaborative, reflecting a strong commitment to environmental justice and corporate responsibility.

HP Inc. (NYSE: HPQ) announced the redemption of all remaining Global Notes, totaling approximately $867.5 million, on July 22, 2020. This includes $472.3 million of 3.750% Notes due December 1, 2020, and $395.2 million of 4.300% Notes due June 1, 2021. Notices will be sent by The Bank of New York Mellon Trust Company. This move is part of HP's strategy to strengthen its balance sheet, which includes a recent $3 billion public offering of senior unsecured notes and the establishment of a new $1 billion revolving credit facility. The actions aim to enhance financial flexibility and support future investments.

HPQ announced the expiration and results of its cash offers to purchase specific Notes, with the Offers concluding on June 16, 2020. HP accepted all validly tendered Notes, totaling approximately $682.5 million. The Offers required a successful $3.0 billion New Offering, completed on June 9, 2020, to fund the Total Consideration and accrued payments. Acceptance of tendered Notes is also subject to delivery by June 18, 2020. J.P. Morgan, Morgan Stanley, and Wells Fargo acted as Lead Dealer Managers, with D.F. King serving as Information and Tender Agent.

HP Inc. launched the innovative HP ENVY 6000 printer series, designed for busy families balancing work and education at home. This series features a smart user interface, self-healing dual-band Wi-Fi, and integration with the HP Smart app for effortless setup and printing. The printers are also environmentally friendly, made from over 20% recycled plastic. Additionally, HP introduced over 50 hours of free educational printables to assist families in STEM learning. The Instant Ink service ensures users never run out of ink, with savings of up to 50% on replacement cartridges.

HP Inc. (HPQ) announced a public offering of $3 billion in senior unsecured notes, including various maturities and interest rates. The offering consists of $1.15 billion of 2.200% notes due 2025, $1 billion of 3.000% notes due 2027, and $850 million of 3.400% notes due 2030. Proceeds will be used to fund tender offers for existing notes and for general corporate purposes, including debt refinancing and share repurchases. The issuance is set to close on June 17, 2020, pending customary conditions.