Technology Stock With Stellar Dividend Growth Maintains Position on the Best Dividend Stocks List

It turns out, you can teach an old dog new tricks. While there are so many young upstarts, many of the old dogs are still alive and kicking. And in the case of our Best Dividend Stocks List pick in the sector, they are running in circles around many of the “disruptors.”

Our pick has managed to transition from being strictly a hardware producer to a services leader and features plenty of recurring revenue from the cloud, security and software as a solution (SaaS) applications. Meanwhile, its historical hardware component throws off plenty of growth and cash flows.

See the original article on our pick here.

As a result, our pick has become one of the best dividend payers in the tech sector, if not the entire market. In its short dividend history, our pick has managed to grow its payout by over 450% as well as buyback millions of its own stock shares!

However, with continued improvements in cross-selling, big shifts to the cloud/wireless adoption and a hefty dose of tax reform, our pick is still minting profits and cash flows for investors. Old tech is still managing to innovate. And with that, our selection in the sector has plenty of growth left in the tank.

To summarize, here are five reasons why you should own this stock:

1. Recorded close to $50 billion in sales for all of 2018 – a 3% year-over-year increase.
2. Since paying its first dividend in 2011, it has grown its payout by 450%.
3. Extensive portfolio of high-margined service, software and recurring revenue business lines.
4. More than $46 billion in cash and short-term investments on its balance sheet at the end of last year, with over $4 billion in free cash flows from its operations.
5. Healthy payout ratio of 49.5% and healthy yield of 2.76%.

Our Best Dividend Stocks List has 20 of the highest-rated stocks by our proprietary rating system. Go Premium to find out the entire list.