Jay Somaney Cisco adds $15B for stock repurchase, increases dividend 6%
Cisco has declared a quarterly dividend of 35c per common share, a 2c increase or up 6% over the previous quarter's dividend, to be paid on April 24, 2019 to all shareholders of record as of the close of business on April 5, 2019. Cisco's board of directors has also approved a $15B increase to the authorization of the stock repurchase program. There is no fixed termination date for the repurchase program. The remaining authorized amount for stock repurchases including the additional authorization is approximately $24B. "Q2 was a solid quarter with continued momentum across the business delivering revenue growth of 7% and non-GAAP EPS growth of 16%. I'm also very pleased with our revenue from software subscriptions which is now 65% of total software revenue. Our increased dividend and share repurchase authorization show confidence in the strength of our ongoing cash flows and reinforce our commitment to returning capital to our shareholders," said Kelly Kramer, CFO of Cisco
Feb 13, 2019 @ 04:10PM