Tuesday, February 28, 2023

Dividend Increase - Cisco Systems, Inc. (CSCO)


Wednesday, February 15th the Board of Directors of Cisco Systems, Inc. (CSCO) announced a quarterly dividend increase of from $0.38 to $0.39 per share that’s payable April 26, 2023 to holders of record April 5, 2023. This represents a 2.63% increase over the last quarterly dividend.

With current price $48.81 (today's open), this raise brings their dividend yield to 3.20%.

Cisco is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.7, 3.0, 6.0 and 15.4 (Dividend Champions.xls)

Since I own 195 shares of CSCO, this will increase my portfolio's projected annual net dividend income by $5.81.

As in recent years, the increase was one cent and therefore in line with my expectations.

This is the 7th dividend increase I've received from CSCO since initiating a position in March 2016. During this period, the quarterly dividend has risen acceptably from $0.26 to $0.39, or 50 percent.

This increase raises my YOC to 5.32%.

Summary of 2023 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long CSCO

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