Citrix Systems (CTXS) will raise its dividend by 5.7 percent to 37 cents per share quarterly in 2021. This is the first dividend hike announced by the technology company since it started paying a quarterly dividend of $0.35 per share in the fouth quarter of 2018. The company follows many other technology companies initiating a dividend in the last couple of years.

The next dividend is payable March 26, 2021 to all shareholders of record as of the close of business on March 12, 2021. The ex-date for this first ever dividend of 37 cents usually is the day before the record date, so in this case March 11. The new annualized dividend of $1.48 per share yields 1.1% at a stock price of $134 for Citrix Systems.

Citrix Systems will now pay an estimated annual dividend of $182 million to its shareholders, up from $172 million before this new dividend hike was announced. 

Citrix Systems is a cloud computing company. Citrix provides its customers with a comprehensive secure digital workspace that unifies the apps, data and services, and simplifies IT’s ability to adopt and manage complex cloud environments. Citrix offers perpetual, subscription-based and on-premise subscription software licenses for its solutions, along with annual subscriptions for software updates, technical support and SaaS. The company markets and licenses its solutions through multiple channels worldwide, including selling through resellers and direct over the Web. Citrix is a Delaware corporation incorporated on April 17, 1989.