Cisco Systems (CSCO) will raise its quarterly dividend by 13.8 percent to $0.33 per share in the first quarter of 2018. The new dividend yield is 3.0%.

The next dividend will be paid on April 25, 2018 to all shareholders of record as of the close of business on April 5, 2018.

“Q2 was a great quarter with 3% revenue growth and strong margins and cash flow,” said Kelly Kramer, CFO of Cisco. “We continue to make progress as we shift the business toward more software and recurring revenue. Our significant dividend increase and additional share repurchase authorization reinforce our commitment to returning capital to our shareholders and show confidence in the strength of our ongoing cash flows.”

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's business is organized into three geographic segments: Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC). Cisco's products and technologies are grouped into the following categories Infrastructure Platforms, Applications, Security and Other Products.  In addition to its product offerings, Cisco provides a broad range of service offerings, including technical support services and advanced services. Increasingly, the company delivers its technologies through software and services. Customers include businesses of all sizes, public institutions, governments, and service providers. Cisco Systems was incorporated in California in December 1984, and is headquartered in San Jose, California. The company has paid a dividend every year since 2011.