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Technology Giant with 15 Years of Dividend Growth Strengthens Its Position in Best Dividend Stocks List

“To the cloud!” has become the rallying cry for many tech stocks these days. And it’s easy to understand why. Thanks to rising mobile and wireless adoption, as well as overall internet usage, more and more consumers/businesses are heading online to access applications. The app economy has truly arrived. However, some tech stocks do the cloud better than others – and that includes our Best Dividend Stocks List pick in the sector.

As one of the first winners during the dot-com days, our pick has transformed itself over the last decade by becoming a top cloud specialist in the sector. Covering everything from enterprise software, servers and tools for both consumers and businesses, our selection has quickly dominated the Software-as-a-Service (SaaS) and Infrastructure/Platform-as-a-Service (IaaS, PaaS) markets.

And thanks to cloud computing’s juicy margins, our pick is now flushed with record-high cash balances. The best part is that it continues to share that cash with investors. Dividends at our pick have exploded over the last decade, including a recent 11% jump to its payout.

Even better is that the firm continues to see new sources of revenue from its operations. Once the laughing stock of the gadget world, our pick has become a serious hardware player as well, in both gaming and personal electronics. Meanwhile, new cloud-based productivity tools are winning over customers and enterprise.

In the end, our pick has perfectly pivoted from being an old-school tech stock into a modern cloud master. One that will only continue to boost shareholder rewards down the line.

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

1. Operating income jumped by nearly 27% in the first quarter of fiscal 2020, compared to the same quarter last year, with cloud computing leading the way!
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 with its latest increase being over 11%.
5. Healthy payout ratio of 43% and growing yield of 1.36%.

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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