Cisco Systems Inc. (CSCO) will raise its quarterly dividend by 2.8 percent to 37 cents per share in 2021. This follows a dividend hike of 2.9 percent to $0.36 per share in the first quarter of 2020. This also marks the 10th consecutive year of dividend increases by the technology company.

The next dividend will be paid on April 28, 2021 to all shareholders of record as of the close of business on April 6, 2021. A new annual dividend rate of $1.48 per share yields 3.1% at a stock price of $47.29.

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.