WASHINGTON (dpa-AFX) - Hewlett Packard Enterprise (HPE) announced the company now plans to return $7 billion to shareholders in the form of share repurchases and dividends by the end of fiscal 2019, including a 50% increase in dividend. The company will also significantly increase the matching contribution for its employees' 401(k) program and create new degree assistance programs. 'Given the recent tax reform in the U.S., which will provide easier access to off-shore cash, we are increasing our shareholder return commitment and our investment in employees,' said Antonio Neri, President and CEO of HPE.
The company also announced, for fiscal 2018, it now estimates GAAP diluted net EPS to be in the range of $1.35 to $1.45 and non-GAAP diluted net EPS to be in the range of $1.35 to $1.45. Fiscal 2018 non-GAAP diluted net EPS estimates primarily exclude the after-tax impact of transformation costs and the amortization of intangible assets, offset by the impact of U.S. tax reform.
For the second quarter, Hewlett Packard Enterprise estimates GAAP net EPS to be in the range of $0.10 to $0.14 and non-GAAP net EPS to be in the range of $0.29 to $0.33. Second quarter non-GAAP net EPS estimates exclude after-tax costs of approximately $0.19 per share, primarily related to transformation costs and the amortization of intangible assets.
First quarter non-GAAP net EPS from continuing operations was $0.34, up from $0.28 in the prior-year period. Net revenue of $7.7 billion was up 11% from the prior year and up 9% when adjusted for currency.
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