Cisco (CSCO) Issues Capital Allocation Strategy Outlook; Boosts Dividend 75%

August 15, 2012 4:09 PM EDT
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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.

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