Hi readers, I overlooked this great news. In February Cisco Systems Inc. (CSCO) increased its quarterly dividend to 26 cents per share from 21 cents by 23.8%. The router and networking equipment giant will make its new dividend payment available on April 27 to shareholders of record as of April 6. Cisco goes ex-dividend on April 4.
With this hike, the YOC of my position in CSCO will improve to 4.6% from 3.7%. As I have 350 shares, the expected annual gross dividend income from CSCO is $364.
Disclosure: Long CSCO