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If you’ve ever accessed your photos or done banking via an app, you’ve participated in one of the hottest and game-changing trends in all of tech. And that would be cloud computing. These days being able to access software, services and applications via the web has transformed the way consumers and enterprises do business. The trend is only growing as more end-users adopt the model for their needs. And in that, stocks offering cloud services are seeing their revenues, cash flows and profits surge.

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

Once a relic of the dot-com days, our pick has transformed itself into one of the biggest providers of cloud computing on the planet. Thanks to visionary new leadership, our selection has quickly dominated both the software-as-a-service (SaaS) and infrastructure/platform-as-a-service (IaaS, PaaS) markets. Revenues have exploded. Cash balances are near records. And the stock has become a dividend investor’s dream come true.

Check out our original pick here.

And the quick growth will continue. Our pick has continued to expand its offerings into other cloud operations. This includes creating a gaming/entertainment cloud as well as buying out scalable smaller rivals. A hefty dose of data analytics and partnering with other tech giants for ease of integration haven’t hurt either. All of this will continue to drive cash flows and profits for our pick.

And with the firm already sharing the love with increasing buybacks and profits, the continued growth will only boost shareholder rewards down the line.

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

  1. Both operating income and earnings per share jumped by nearly 20% in the third quarter of fiscal 2019 compared to the corresponding period of the previous year.
  2. Continues to be a huge winner from its shift to the cloud/services with torrid growth in both consumer and enterprise operations.
  3. Smartly using M&A to boost its own operations and add new sources of growth to its cloud business.
  4. Has grown its dividend for 15 years straight while having grown the quarterly payout by more than 250% since 2010.
  5. Healthy payout ratio of 43% and growing yield of 1.34%.

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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