por Victor VE » Vie Mar 18, 2011 8:21 am
Cisco OK’s first dividend in its history
NEW YORK (MarketWatch) — Cisco Systems Inc. said Friday it would begin paying a dividend for the first time in its history.
The San Jose, Calif., technology company’s board of directors approved the initiation of quarterly cash dividends, starting with a payment of 6 cents a share.
Shareholders of record as of March 31 will receive the payment on April 20.
“This dividend complements our leading position, and is an important part of our commitment to bring value to shareholders,” Chief Financial Officer Frank Calderoni said in a statement.
Cisco /quotes/comstock/15*!csco/quotes/nls/csco (CSCO 17.48, +0.48, +2.82%) said future dividends will be subject to board approval.
Shares of Cisco rose 2% to $17.43 on Friday morning.