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

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

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

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

(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Maju Samuel)