Earn 6.4% From This Technology Dividend-Paying Stock

One of the most difficult sectors to find dividend-paying stocks in is the technology sector. That’s because technology stocks have quite large gross margins. Also, rather than paying shareholders a dividend, the money is typically reinvested in the business for further growth. Another reason for no dividends being paid is because the technology sector is changing very rapidly, with new business plans being created and companies with unique technologies being acquired regularly.

Through the research I have conducted, I have found a technology company that would provide a dividend-paying stock while staying relevant in today’s world: Seagate Technology PLC (NASDAQ:STX). Seagate is the global leader in data storage solutions for customers from around the world. In recent years, Seagate has moved more towards the cloud storage segment, which is seen as the future of data storage. This has put Seagate in competition with the likes of Amazon.com, Inc. (NASDAQ:AMZN), salesforce.com, inc. (NYSE:CRM) and Alphabet Inc (NASDAQ:GOOG). However these companies do not pay a dividend to their shareholders, while STX stock does–and a high dividend, at that. The current dividend yield is 6.41%, with the shares trading at $39.40. A dividend of $0.63 is paid out on a quarterly basis and has grown over the past four years, nearly doubling.

Source: Income Investor

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