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Cisco Systems Inc. Increased Dividends will be Sent to Investors in April

3/28/2023 2:31 PM

Shares of Cisco Systems Inc., an American manufacturer and supplier of network equipment for large holdings and telecommunications companies, are correcting at 50.00.

The company continues its efforts to introduce its exclusive Webex conferencing instrument, and yesterday it became known that it had entered into a partnership with one of the leading automakers Mercedes Benz AG: in advance, the device will be added to the dashboard of the new 2024 Mercedes-Benz E Class with built-in Wi-Fi and cellular data connection. This decision could be the corporation's response to the recent deal between Tesla Inc. and Zoom Video Communications Inc., through which the electric car manufacturer can equip its vehicles with these communications.

As for the financial side, the reorganization of the business of Cisco Systems Inc. continues and management has announced plans to cut up to 5.0% of its entire workforce in the second quarter of 2023, which could cost the company 600.0M dollars.

Announced in February, the dividend increase came through, and this year they will reach 0.39 dollars per share, which corresponds to a yield of 3.11% per annum. The next payment is scheduled for April 26, and the shareholder register will be closed on April 4.

On the daily chart, the trading instrument is moving within a corrective trend near last year's highs at 50.00.

Technical indicators reinforce the global buy signal: the range of fluctuations of the Alligator EMA is actively expanding, and the AO histogram forms rising bars above the transition level.

Resistance levels: 51.30, 53.50. | Support levels: 49.50, 47.20.

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