Networking equipment maker Cisco Systems, Inc. (
) late Wednesday posted better-than-expected fiscal fourth quarter
earnings results and lifted its quarterly dividend payout by
The San Jose-based company reported fiscal fourth quarter net
income of $1.92 billion, or 36 cents per share, compared with $1.23
billion, or 22 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 47 cents per share.
Revenue rose 4.4% from last year to $11.7 billion.
On average, Wall Street analysts expected a smaller profit of 45
cents per share, on lower revenue of $11.62 billion.
In bigger news, CSCO said its board of directors approved a
massive 75% increase to its quarterly dividend. The new dividend of
14 cents per share (up from a prior 8 cents) will be paid on Oct.
24 to with a likely ex-dividend date of Oct. 2.
Cisco shares rose 86 cents, or +5%, in aftermarket trading
The Bottom Line
Shares of Cisco Systems (
) will now have a 3.23% dividend yield, based on the higher
dividend payout and today's closing stock price of $17.35. The
stock has technical support in the $16 price area. If the shares
can firm up, we see overhead resistance around the $18-$19 price
Cisco Systems, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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