Technology giant Cisco Systems Inc. will follow through on a promise it made late last year and will pay out a dividend for the first time in its history, MarketWatch reported.

The first quarterly cash dividend – 6 cents a share – will be paid on April 20 to shareholders of record as of March 31. The initiation was approved by San Jose, Calif.-based Cisco’s board of directors, following clamor from some on Wall Street.

“This dividend complements our leading position, and is an important part of our commitment to bring value to shareholders,” said Frank Calderoni, Cisco’s chief financial officer.

Shares of Cisco rose to $17.31 today following the company’s announcement. The approximately 2 percent gain in early trading made the stock one of the top gainers on the Dow Jones industrial average. 

“By initiating a cash dividend, we believe Cisco has the opportunity to expand its investor base, while further demonstrating management’s willingness to return cash to shareholders,” said Brian White, an analyst with Ticonderoga Securities.