New York, August 16, (FinanceEnquiry.com) – Analysts at Moody’s Investors Service said Cisco Systems Inc (NASDAQ: CSCO) announced that its board authorized a 75 percent increase in its common dividend that would not impact the company’s A1 senior unsecured credit rating. The outlook on the ratings has been stable.
In a research note published yesterday, the analysts mention that the company’s common dividend increase around an additional sum of $1.3 billion in annual payments to an estimated $3.0 billion in the coming year on the basis of average shares outstanding at the end of July 2012.
Also, more technology companies have been paying dividends and increasing dividend payments. However, increases to effect company ratings have not been expected as percentage of discretionary cash flow paid as dividends have been expected to remain in the range of 20 to 25 percent on an average as compared to 40-50 percent of many non-technology sectors.
The company has its headquarters in San Jose, California and is a world wide leader in networking equipment with revenues of $46 billion, the analysts say.
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