Cisco Systems to Pay 2011 Dividend, Shares Jump (CSCO)

Cisco Systems CSCO will pay its first dividend in 2011, Benzinga has confirmed. The company will pay a yield of 2%, the CEO said today. Shares of Cisco are up more than 3% on the news, to $21.93 this afternoon. A CNBC report notes that "Chief Executive John Chambers, speaking at a financial analyst meeting, said he would not alter his business strategy despite near-term challenges in the economy." Cisco said it was seeing "mixed signals" today. But Chambers said the company would remain focused on long-term business trends.