Increases Quarterly Cash Dividend by 75% to $0.14 per Common ShareAugust 15, 2012
SAN JOSE, Calif. – August 15, 2012 - Cisco (NASDAQ: CSCO) today detailed its capital allocation strategy, which includes a quarterly dividend of $0.14 per common share, an increase of 75%.
"Cisco has the financial strength and flexibility to effectively invest in our business, pursue strategic opportunities, such as acquisitions, as well as return a minimum of 50% of our free cash flow annually through dividends and share repurchases to our shareholders," said Frank Calderoni, EVP and Chief Financial Officer. "Our financial strength gives us the confidence to commit and execute against this strategy, in order to provide meaningful return to our shareholders."
"We are listening to our shareholders, and I'm pleased we are increasing our quarterly dividend for the first quarter of fiscal 2013 by 75% to $0.14 per share," concluded Calderoni.
The quarterly dividend was declared by Cisco's Board of Directors on August 14, 2012. The dividend will be paid on October 24, 2012 to all shareholders of record as of the close of business on October 4, 2012. Cisco's previous quarterly dividend, of $0.08 per common share, was paid on July 25, 2012. Future dividends will be subject to Board approval.
Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com
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