SAN FRANCISCO – Cisco Systems on Wednesday said its board has declared a quarterly dividend of 19 cents a share, an increase of 2 cents from the previous quarter. The dividend will be paid on April 23 to shareholders of record as of the close of business on April 3. The company also announced it bought back $4 billion in shares during the quarter. In a statement, Chief Financial Officer Frank Calderoni said, "Our financial strength gives us the confidence to provide a meaningful return to our shareholders." Cisco reported a dip in profit and sales but its results beat Street estimates. Cisco shares were down a fraction after hours. (Updates with stock buyback information.)
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