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Cisco Announces First-Ever Cash Dividend

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Cisco Systems headquarters in San Jose. (AP)

Cisco Systems headquarters in San Jose. (AP)

SAN JOSE (CBS/AP) — Cisco reported its first-ever cash dividend will amount to 6 cents per share and will be paid on April 20.

The company has said since last year that it would start paying a dividend equating to an annual yield of 1 percent to 2 percent, but had not specified the amount or precise timing.

The dividend amounts to an annual yield of 1.4 percent at Thursday’s closing price of $17. The shares hit a 52-week low of $16.97 in Thursday trading.

Cisco said its “leadership position in the markets we serve is strong,” making this the time to reward shareholders.

San Jose-based Cisco Systems Inc. is the world’s largest maker of computer networking gear.

The dividend will be paid to shareholders of record as of March 31.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)

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