Cisco Systems (Nasdaq: CSCO) has announced its first cash dividend: 6 cents to be paid quarterly.
Cisco’s current yield isn’t big enough to make it an income-generating powerhouse today, but that could change with steady raises over the years, or a blow to the underlying stock price.
Cisco’s stock reached $17.89, which is an increase of approximately 4%. Shares of Cisco Systems jumped Wednesday and became the top gainer on the Dow Jones Industrial Average.
About Cisco: Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology industry worldwide. It offers routers that interconnect public and private IP networks for mobile, data, voice, and video applications; switching products, which offer connectivity to end users, workstations, IP phones, access points, and servers; application networking services; and home networking products, such as adapters, gateways, modems, and home network management software products.