Dow Component Cisco Systems (CSCO) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading down 93.0 points (-0.6%) at 15,165 as of Monday, Sep 30, 2013, 10:29 a.m. ET. During this time, 78.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 364.4 million. The NYSE advances/declines ratio sits at 616 issues advancing vs. 2,237 declining with 123 unchanged.
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Tuesday, October 1, 2013 is the ex-dividend date for Dow component Cisco Systems (Nasdaq: CSCO). Owners of shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $23.31 as of 10:30 a.m. ET, the dividend yield is 2.8% compared to the average Dow component yield of 2.6%.

The average volume for Cisco Systems has been 32.9 million shares per day over the past 30 days. Cisco Systems has a market cap of $129.43 billion and is part of the technology sector and computer hardware industry. Shares are up 22.9% year to date as of Friday's close.

Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. The company has a P/E ratio of 13, equal to the average computer hardware industry P/E ratio.
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TheStreet Ratings rates Cisco Systems as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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