Friday, February 16, 2024

Dividend Increase - Cisco Systems, Inc. (CSCO)


Wednesday, February 14th the Board of Directors of Cisco Systems, Inc. (CSCO) announced a quarterly dividend increase of from $0.39 to $0.40 per share that’s payable April 24, 2024 to holders of record April 4, 2024. This represents a 2.56% increase over the last quarterly dividend.

With current price $49.06 (yesterday's close), this raise brings their dividend yield to 3.26%.

Cisco is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.6, 2.7, 3.9 and 9.1 (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 8th dividend increase I've received from CSCO since initiating a position in March 2016. During this period, the quarterly dividend has increased modestly from $0.26 to $0.40, or 53.9%.

This increase raises my yield on cost to 5.45%.

Summary of 2024 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long CSCO

Thanks for stopping by!

No comments:

Post a Comment