Liability Adjusted Cash Flow Yield: 6.9% Dividend Yield: 1.78% LACFY/10-Year Treasury Yield: 3.33 Return on Invested Capital: 33% Hewlett-Packard ( HPQ) is a really tough company to like. But for all its drama, shares of HP have appreciated over the last decade and the stock is one of the cheapest in the Dow. That said, there are myriad questions for potential investors: How will the company reinvent itself -- again? Will new management stop financial health metrics (current ratio/quick ratio) from deteriorating? Is the Board of Directors competent? Will executive compensation issues continue to plague shareholders? Even if all of these questions have satisfying answers/conclusions, HP has been a really lousy dividend stock. In the last 12 months the company has used roughly 17 times the capital to repurchase shares than to pay distributions. For buy and hold investors, that just sucks.