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Cisco Systems raises dividend 21 percent

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March 28, 2013 07:50 PM EST | AP


SAN JOSE, Calif. — Cisco Systems Inc. is increasing its dividend 21 percent, its second boost in less than a year.

The San Jose, Calif.-based technology giant will pay a 17 cent quarterly dividend on April 24 to shareholders of record April 8. That's up 3 cents from the last quarter.

Cisco raised its quarterly payout to 14 cents from 8 cents last summer.

The company, which supplies routers, switches, software and services to corporate customers and government agencies worldwide, is considered a bellwether of the technology industry. Last month it forecast a slow, steady upturn in its sales pipeline.

Cisco shares ended trading Thursday at $20.89, up 7 cents. The stock is up about 6 percent in the year to date, underperforming the broader market.