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The technology sector is known for its fast growth, disruption and game-changing abilities. The perception is that smaller startups are driving the innovation. But that couldn’t be further from the truth. In fact, some very old-school tech companies are dominating their smaller rivals in the cloud and across various sub-sectors of the market.

That includes our Best Dividend Stocks List pick in the technology sector.

Our pick has its roots in the dotcom boom. But unlike many firms from that era, it has evolved and continues to grow. This includes a shift from selling only hardware to offering more services and recurring revenue products, which has continued to pay benefits for both the firm’s bottom line and its shareholders. Non-GAAP earnings per share alone jumped by over 16% in the latest reported quarter. That’s some pretty impressive growth for an old tech dinosaur.

Even better is that margins at our pick continue to widen as well, which has allowed it to produce copious amounts of cash flows that have continued to make their way back to investors’ pockets through expanded buyback programs and hefty dividend increases. Including its recent increase, our pick has managed to grow its dividend by over 480% since initiating a payout during 2011.

With more avenues to grow across A.I., driverless cars, increased 5G networking and cloud computing, our pick continues to have a long runway for additional profits and, ultimately, increased income for shareholders.

All in all, our technology Best Dividend Stock List pick has the goods to power your portfolio for the long haul.

See our original article on our pick here.

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

  1. Recorded nearly $50 billion in sales for all of 2018 – a 3% year-over-year increase. Last quarter saw a 7% jump in sales alone!
  2. Since paying its first dividend in 2011, it has grown its payout by over 480%.
  3. Has increased its buyback program to a massive $15 billion over the next year.
  4. Nearly 65% of its revenues are now coming from software and recurring sources.
  5. Healthy payout ratio of 52% and yield of 2.83%.

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.

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