The technology sector is typically not known to pay dividends. There are very few companies in this sector that have paid dividends for a long time. Most of the companies have recently initiated dividends.
Cisco initiated its dividends in 2011 and has consecutively increased its dividend ever since at an annualized growth rate of 17% over the last five years. On April 4, the stock goes ex-dividend with a payout of 33 cents per share, which is 14% higher than its previous payout of 29 cents per share. At 3%, Cisco currently yields twice the average dividend yield of the technology sector and is off only 4% from its 52-week high despite the recent carnage witnessed in the markets. A big boost for the stock came from Goldman Sachs as it added the stock to its conviction list, as it predicts significant returns from the networking giant. The company has recently announced a $25 billion share repurchase program on top of its 14% dividend increase.
Other stocks that moved on the list include Sysco Corp, which is going ex-dividend on April 5 with a payout of 36 cents per share. The wholesale food company has increased its dividend for 47 consecutive years. United Technologies moved up a spot from 66 to 65, as concerns over a U.S.-China trade war eased off. Pepsi also moved up a spot from 24 to 23, as the company’s outlook remains stable despite the one-time hit it suffered on the EPS front following the tax bill.
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