Cisco Systems (CSCO) will raise its quarterly dividend to $0.29 per share.

The increased dividend will be paid on April 26, 2017 to shareholders of record as of the close of business on April 6, 2017.

"We delivered a solid Q2 with $11.6 billion in revenues and further growth in key business areas of collaboration, security and services," said Kelly Kramer, Cisco CFO. "I am pleased with our progress on business transformation to software and recurring revenues. We expect to continue to execute well and return value to our shareholders including our board approved an increase of three-cents to the quarterly dividend to $0.29 per share."

Cisco Systems, Inc. designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The company serves customers, including businesses of all sizes, public institutions, governments and service providers.