Cisco Systems Inc. (CSCO) , the world’s largest maker of networking equipment, today announced that on March 17, 2011, its Board of Directors approved the initiation of quarterly cash dividends to its shareholders.
This is the first cash dividend paid to shareholders in the company’s history. A quarterly dividend of $0.06 per common share will be paid April 20 to shareholders of record on March 31, the company said today in a statement. The dividend is yielding 1.41%. Cisco said in September it plans to start a dividend with a potential yield of 1 to 2 percent. The ex-dividend date is March 29.
CSCO rose 34 cents, or 2.00%, to $17.34 in Nasdaq Stock Market trading at 11:19 a.m. New York time.