Hewlett Packard today announced that it will raise the quarterly dividend it pays out to shareholders by 10 percent, to 14.52 cents per share.

The increase won't be effective until Palo Alto-based HP declares its next dividend sometime in May. The company currently pays dividends on 13.2 cents per share and has about 2 billion shares of common stock.

The announcement comes a day after the company's shareholder meeting during which all 11 board members received enough shareholder votes to keep their seats, according to the Silicon Valley Business Journal.

Each member had to receive at least 50 percent of shareholders' votes in order to stay on the board.

Major stakeholders in the company had targeted several board members for their roles in buying British software company Autonomy in 2011 for $11 billion, according to the journal.

HP said in November that "accounting improprieties, misrepresentations and disclosure failures" caused it to massively overpay for Autonomy. The company said $5 billion of its $8.8 billion impairment charge that quarter was related to Autonomy being "extremely overvalued" at the time of its acquisition.

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