Upbeat Cisco plans pay-out for next year

Cisco Systems will be among the minority of technology companies paying a dividend to investors next year, joining Microsoft and Oracle in sharing some of its cash stockpile.

The leading maker of networking gear said it would pay its first dividend, of between 1 per cent and 2 per cent, by the end of its fiscal year in July.

The amount to be paid out would depend on a couple of tax issues, John Chambers, chief executive, said on Tuesday. First, is the tax rate on dividends, which could be changed by Congress. Second, is the rate payable on cash repatriated by companies from overseas. Cisco holds about $30bn of its $40bn in cash overseas, and Mr Chambers said he would bring all of that back to the US if Congress agreed to a tax rate of less than 10 per cent on the funds movement.

Read Full Article from Financial Times

- Posted: 2010-09-14 21:49:43

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