Cisco

Cisco Systems is the dominant maker of networking hardware and software, supplying the routers, switches and security products that underpin much of the world's internet and corporate data infrastructure. In recent years it has pushed toward subscription software, cybersecurity and observability, aiming to smooth the lumpy revenue cycles of its traditional equipment business. Cisco has raised its dividend consistently since it began paying one over a decade ago, supported by strong free cash flow and a large net cash position. The yield is moderate and complemented by substantial buybacks. It offers a balanced profile: a mature technology franchise returning ample cash while gradually reshaping itself toward recurring revenue.