Cisco Systems Inc. (CSCO) will raise its quarterly dividend by 2.9 percent to $0.36 per share in the first quarter of 2020. This marks the 9th consecutive year of dividend increases by the technology company.

The next dividend will be paid on April 22, 2020 to all shareholders of record as of the close of business on April 3, 2020. A new annual dividend rate of $1.44 per share yields

"We executed well this quarter by delivering strong margins and EPS growth while driving more software and subscriptions," said Kelly Kramer, CFO of Cisco in today's press release. "Our increased dividend shows confidence in the strength of our ongoing cash flows and demonstrates our commitment to shareholder return."

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.