The idea that technology companies don’t pay dividends comes from the industry’s early years, when most businesses focused on growing as quickly as possible. During the dot-com boom of the late 1990s and early 2000s, tech companies typically reinvested their profits into expansion, new products, and gaining market share. Returning cash to shareholders was rarely a priority. Over time, this created the perception that technology stocks were not suitable for dividend investors.
That perception has started to change as the industry has matured. Several major tech companies have introduced dividend payments to reward shareholders. 2024 was an important year in this shift, with some of the biggest names in technology announcing dividend policies. Most of these stocks still offer modest yields, but their ability to grow payouts as earnings increase makes them worth considering for long-term dividend investors. It also gives dividend growth portfolios greater exposure to a sector that has traditionally been underrepresented.
Also read: 10 Best Dividend Stocks for Long Term Growth
Technology stocks have played a major role in driving market returns in recent years, and dividend investing is beginning to reflect that shift. Analysts believe this creates new opportunities for both investors and companies. Matt Quinlan, lead portfolio manager for Franklin Equity Income fund and Franklin Rising Dividends fund, said income strategies now “have access and exposure to those names that have driven the market more recently.” Tom Huber, portfolio manager for T. Rowe Price Dividend Growth fund, also sees room for this trend to continue. “There will be more and more opportunities for dividend growth investors to buy technology stocks,” he says.
Most technology companies still prefer to use their cash to grow the business or buy back shares rather than distribute it through dividends. That’s been the norm for years. The decision by some of the largest tech companies to start paying dividends shows that this approach is gradually changing. Investors looking for companies that take a different approach to capital allocation can also explore our list of 10 Best Debt Free Dividend Stocks to Buy Right Now.
Quinlan said that these companies have attractive financial models that generate tremendous cash flow. They can both invest in the business and reinvest to maintain those competitive positions, while also paying dividends. Billionaire investors basically pick them for the first reason. The yield on these stocks is not as attractive for billionaire investors; the main reason is that they think these stocks can generate superior risk-adjusted returns over the long term. Given this backdrop, we will take a look at some of the best tech stocks that pay dividends.
Our Methodology:
For this list, we screened Insider Monkey’s database of billionaire investors to identify dividend-paying technology companies. We included companies with at least 10 years of consecutive dividend payments. We then examined their current dividend yields and five-year average annual dividend growth rates. Finally, we ranked the stocks based on the number of billionaire investors holding stakes in each company.
10. Analog Devices, Inc. (NASDAQ:ADI)
Number of Billionaire Holders: 26
Dividend Yield as of November 9: 1.13%
5-Year Average Annual Dividend Growth Rate: 9.78%
Analog Devices, Inc. (NASDAQ:ADI) is paying out a dividend yield of 1.13% as of November 9. That’s a fairly low yield, but the company has a very strong track record of dividend growth, so it could be a worthwhile holding for an investor with a longer time horizon. Its 5-year average annual dividend growth rate is 9.78%.
In Q4 2026, the company increased its quarterly dividend by 11% to $1.10 per share, which marked its 22nd year of dividend increases. It has produced positive free cash flow for 29 consecutive years, which is a very solid base for a capital return program. Since the company started its dividend policy 22 years ago, it has returned $32 billion to shareholders via dividends and share buybacks.
The business model is very conducive to future dividend growth. Analog Devices is a developer of high-performance analog, mixed-signal, and digital signal processing chips used in industrial equipment, automotive, communications, and data center applications. This means the company takes real-world signals and turns them into information the electronic system can use. Industrial automation, EVs, advanced driver assistance systems, and AI infrastructure could all be sources of additional demand for its products. It also benefits from existing relationships with manufacturers building products with very long operating lives.
At a 1.13% yield, ADI isn’t really that attractive to an investor who wants a good income stream today. Its appeal is more in the dividend growth and the potential for capital appreciation. The emphasis would be on its track record of dividend growth, the generation of free cash flow, and the potential to benefit from the long-term demand for advanced electronic components. Read ADI’s full analysis here.
9. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Billionaire Holders: 30
Dividend Yield as of November 9: 2.11%
5-Year Average Annual Dividend Growth Rate: 6.36%
QUALCOMM Incorporated (NASDAQ:QCOM) has a dividend yield of 2.11% as of November 9 and has a 5-year average annual dividend growth rate of 6.36%. The company’s dividend policy provides a regular income stream and exposure to the semiconductor sector.
In July 2026, the company announced a $0.92 per share quarterly cash dividend. Qualcomm has two main businesses: its semiconductor business, which makes the Snapdragon and other computing and connectivity platforms, and its technology licensing business, which makes money from its vast wireless patent portfolio.
The licensing business is very much relevant to the dividend investor, as smartphone OEMs and others in the industry are all reliant on the technologies covered by QUALCOMM’s patent portfolio. That’s a significant source of revenue for the company other than the direct sale of the chips themselves. The chip business goes out and sells chips to smartphones, automotive systems, industrial devices, and all sorts of connected products.
The auto market is another area of opportunity. Modern vehicles are increasingly digital with connected car capabilities, digital cockpits, driver assistance, and all the associated computing. Qualcomm has technologies in several of those areas and can therefore be involved in the growing amount of electronic content in the car.
The expansion of on-device AI, the proliferation of connected devices and the evolution of wireless networks could also generate further demand for its semiconductor products. That in itself could be a significant opportunity to diversify the business beyond its traditional reliance on smartphones.
Its 2.11% yield is pretty respectable but may not be enough for an investor who’s looking for yield on the balance of things. An investor might instead look at the dividend growth potential, the licensing business, and the potential to go into new markets. The IP and the semiconductor business together give QUALCOMM a number of ways in which it can support shareholder distributions over time. Qualcomm is also added to our list of 10 Best Autonomous Vehicle Stocks to Buy Now.
8. Oracle Corporation (NYSE:ORCL)
Number of Billionaire Holders: 31
Dividend Yield as of November 9: 1.68%
5-Year Average Annual Dividend Growth Rate: 10.76%
Oracle Corporation (NYSE:ORCL) has a fairly low dividend yield of 1.68%, so it isn’t really a dividend-paying stock in the traditional sense. Its dividend growth history is a different story, though. It has a 5-year average annual dividend growth rate of 10.76%, which is a very significant growth rate when you consider the current yield.
For the longer-term investor, dividend growth can be a significant component of total return. Regular increases can go a long way to improving the income from an investment over time, of course, provided the company has the financial ability to fund them.
Oracle also has 31 billionaire holders, making it one of the more widely held of the group. The key thing for income investors is whether the initial yield is good enough. At 1.68%, Oracle is going to have to do better than that in terms of its quarterly dividend if it is to be any kind of competitive yield. Investors have to look at the consistency of the dividend growth, the level of dividend coverage, and the potential for capital appreciation.
Those who want a more robust income stream might look at some of the more established tech companies with yields in excess of 2.5%. For those who are happy with a lower yield up front, Oracle’s dividend growth history may be more pertinent than its current yield. Read about the company’s moat in detail here.
7. Apple Inc. (NASDAQ:AAPL)
Number of Billionaire Holders: 32
Dividend Yield as of November 9: 0.31%
5-Year Average Annual Dividend Growth Rate: 4.51%
Apple Inc. (NASDAQ:AAPL) cannot be taken as an income play based on the dividend it currently offers. The yield is 0.31%, so for every $10,000 invested, investors would get $31 a year. Its five-year average annual dividend growth rate of 4.51% is also quite modest compared with other companies on this list. That makes the share hard to justify for an investor whose main objective is to build a portfolio that delivers a regular stream of dividend income.
That doesn’t make Apple’s dividend irrelevant. It’s a company that pays a dividend to its shareholders regularly and has incrementally increased the amount it pays per share over time. The dividend history is one of steady increases in the per-share amount. Apple has a massive installed base of iPhones, Macs, iPads, and the like. The services space also offers huge potential, including cloud storage, subscriptions, digital content, and payments. It also has the potential to lock in customers using a range of Apple products and, therefore, make them more likely to stay in the Apple ecosystem when they upgrade.
This customer relationship is a major competitive advantage. Apple isn’t reliant solely on the sale of new hardware to maintain its presence in people’s lives. The services business is another source of recurring customer spend, and new hardware and software features can be used to keep users engaged with the product.
For dividend investors, a more sensible approach may be to view Apple as a total-return investment rather than an income stock. The focus should be on the potential for dividend growth, capital appreciation, and shareholder returns in other forms, i.e., share buybacks. For those looking at higher immediate income, the case could be made for technology companies with higher yields or for the more established dividend growth stocks with a larger initial payout. AAPL is also included in our list of 10 Best Tech Stocks for the Next 5 Years.
6. Texas Instruments Incorporated (NASDAQ:TXN)
Number of Billionaire Holders: 35
Dividend Yield as of November 9: 2.08%
5-Year Average Annual Dividend Growth Rate: 6.54%
Texas Instruments Incorporated (NASDAQ:TXN) is one of the higher-yielding names on the list of major tech companies, with a dividend yield of 2.08%. Its 5-year average annual dividend growth rate of 6.54% is also a good indicator of the company’s history of increasing its dividend.
The company declared a $1.52 per share quarterly dividend in October 2026, payable 10th November. That’s $6.08 per share on an annualized basis. The company’s manufacturing strategy is a key component of its long-term business model. Unlike a lot of the semiconductor companies that are very much dependent on external manufacturing, TI runs its own manufacturing. The investment in internal manufacturing capacity is clearly intended to give them greater control over manufacturing, supply, and cost.
Texas Instruments is a specialist in analog and embedded processing chips. These are used in everything from industrial equipment and vehicles to medical equipment, personal electronics, and communications equipment. The analog chips in particular do all sorts of vital things such as power management, signal conversion, and system control.
For investors, it’s all about the regular income stream and still having exposure to a semiconductor company with a proven track record of increasing its dividend. TI also has 35 billionaire holders. Still, a yield just above 2% may not be sufficient for investors looking for their portfolios to generate a significant return in the form of income. On the other hand, for long-term investors, its manufacturing investments, established dividend history, and exposure to industrial and automotive electronics may make dividend growth a more relevant consideration than its current yield.
Read the company’s full dividend analysis here.
5. Broadcom Inc. (NASDAQ:AVGO)
Number of Billionaire Holders: 37
Dividend Yield as of November 9: 0.82%
5-Year Average Annual Dividend Growth Rate: 12.54%
Broadcom Inc. (NASDAQ:AVGO) has been a real dividend growth story over the last five years with an average annual growth rate of 12.54%. That’s a very respectable figure for a company’s dividend growth. The current dividend yield, though, is only 0.82%, so there’s a big gap between the dividend growth history and the actual income that an investor can pick up today. A very substantial increase in the annual dividend may well take a long time to produce any real income, given that the yield is under 1% to start with. Read the company’s full dividend analysis here.
Artificial intelligence infrastructure has been a massive opportunity for Broadcom, particularly in the area of custom accelerators and networking. The AI data center requires custom chips to do the processing and high-speed networking to connect all the processors. Broadcom is in the business of supplying the underlying technology that goes into those systems and so is well positioned to benefit from the growth in AI compute.
The semiconductor business also serves the wireless communications, broadband, storage and other connectivity markets. The infrastructure software business is another source of revenue, with products used to manage enterprise IT and critical systems.
This gives Broadcom exposure to both hardware and software spend. The semiconductor business is all about the increasing demand for computing and connectivity; the software business is about the organizations that are on top of existing technology platforms. The two businesses can provide opportunities to build up long-term relationships with customers.
Investors looking at the stock should look beyond the dividend growth rate. The real questions are: can the dividend growth be sustained in the future, what proportion of the company’s cash flow is going to shareholders, and is the stock itself a good buy in terms of capital appreciation?
4. Applied Materials, Inc. (NASDAQ:AMAT)
Number of Billionaire Holders: 39
Dividend Yield as of November 9: 0.57%
5-Year Average Annual Dividend Growth Rate: 16.57%
Every advanced semiconductor requires a whole suite of specialist manufacturing equipment, and Applied Materials, Inc. (NASDAQ:AMAT) is a major supplier of many of the technologies used in that process. The company’s equipment covers the whole range of processes from deposition, etching, and inspection through to materials engineering. As the designs get more complex, the tools required to make them get more sophisticated.
This opens up opportunities for Applied Materials beyond the current expansion of AI infrastructure. The industry will continue to require advanced manufacturing technologies for high-performance computing, automotive chips, memory, and an ever more complex range of electronic devices. AMAT is also a part of the 10 Best Memory Stocks to Buy According to Billionaires.
Dividend growth is the more attractive element of AMAT’s shareholder return story. The company has a 5-year average annual dividend growth rate of 16.57%. Its current dividend yield of 0.57% tells a very different story for the investor seeking income. It’s a very modest yield in comparison to a lot of the traditional income-producing investments. Even with the large annual dividend increases, investors are going to need to hold it for a long time before the income actually becomes anything significant in their portfolio.
The dividend history also shows quarterly increases, with the declared dividend rising to $0.53 per share in Q3 2026 from $0.46 in the prior period. The company has distributed nearly 90% of its free cash flow to shareholders over the past 10 years via dividends and share repurchases. Shareholder returns are therefore a key component of its capital allocation strategy.
For dividend investors, AMAT is really more of a long-term distribution growth story than a yield story. The question is whether dividend growth is underpinned by sustainable cash flows and whether the stock is at a valuation that allows for attractive total returns.
3. Micron Technology, Inc. (NASDAQ:MU)
Number of Billionaire Holders: 41
Dividend Yield as of November 9: 0.082%
5-Year Average Annual Dividend Growth Rate: 41.39%
Micron Technology, Inc. (NASDAQ:MU) dividend yield is a mere 0.082%, so it makes very little contribution to an investor’s income. Its five-year average annual dividend growth rate of 41.39% looks very attractive, but that figure has to be viewed in context. A very high percentage increase from a very small initial dividend doesn’t necessarily equate to a very large cash dividend.
The company’s primary investment thesis is its position in the memory semiconductor space. It develops DRAM and NAND used in everything from smartphones and PCs to servers and data centers. Its high-bandwidth memory is particularly relevant to the AI infrastructure space, where you have processors that need to access huge volumes of data very quickly.
The expansion of AI computing could well drive demand for more advanced memory solutions. Training and running AI models is a massive computing undertaking, and memory is a key enabler of how well those systems perform. As data centers grow and deploy ever more powerful processors, their memory requirements could also grow.
The company declared a $0.15 per share quarterly dividend in September 2026. It also announced a 30% increase in its dividend in September, though the dividend itself is still very small in relation to the share price. There’s a very significant difference between Micron and the other dividend tech stocks. Its dividend is not going to be a meaningful source of portfolio income in the very near term. The investor looking at MU should be looking at memory demand, AI infrastructure spend, competitive position, and capital appreciation.
The cyclical nature of the memory business also means it’s important to consider the company’s ability to sustain its shareholder distributions through the cycle. For investors in the dividend space, the key issue is whether the company can deliver on a meaningful level of dividend growth over the coming years. The dividend itself at the moment is of very limited value as an income stream, so the case for the investment has to be based on other factors, namely dividend growth and potential for capital appreciation.
Micron is also added to our list of 10 Best Performing AI Stocks of 2026.
2. Microsoft Corporation (NASDAQ:MSFT)
Number of Billionaire Holders: 49
Dividend Yield as of November 9: 0.72%
5-Year Average Annual Dividend Growth Rate: 10.20%
Microsoft Corporation (NASDAQ:MSFT) has a dividend yield of 0.72%, which is very low. Its 5-year average annual dividend growth rate, however, is 10.20%, so it’s clearly taken a more growth-oriented approach to paying dividends.
For investors who already own the stock, the regular dividend increases will slowly build up the income from their original investment. The problem for the new investor is that the initial dividend is very small. A $10,000 investment would generate about $72 a year at the stated yield.
Microsoft’s massive customer base is one of its key strengths. Its software is used by businesses for everything from communications and document management through to cloud computing, security and enterprise applications. The Microsoft 365 product in particular creates a very strong customer relationship which is inherently recurring. The enterprise business also provides a real opportunity to sell other products to the existing customer base.
Azure adds another dimension to this business model. Companies are increasingly using the cloud to store their data, run their applications, and do their computing. As AI adoption ramps up, the demand for the underlying infrastructure to train and run the AI systems will be another area of opportunity for Microsoft’s cloud business.
The stock could be of interest to investors looking for dividend growth as well as some potential for capital appreciation, though it’s not really one of the obvious choices if you’re building an income portfolio. Investors would need to look at the dividend cover, the likely pace of future growth, and the total return available rather than just the current dividend.
Those in search of some more immediate income could look at Microsoft in the context of other tech companies which are offering yields in excess of 2%, or dividend funds which provide exposure to a wider range of higher-yielding businesses. For long-term investors, Microsoft’s dividend-growth record may warrant further thought, but the current yield should still be part of the valuation decision.
MSFT is also included in our list of 10 Best Dow Stocks to Buy for 2027.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Billionaire Holders: 52
Dividend Yield as of November 9: 0.56%
5-Year Average Annual Dividend Growth Rate: 100.62%
NVIDIA Corporation (NASDAQ:NVDA) has never been a big dividend payer. That changed in May 2026 when the company announced a huge increase in its quarterly dividend to $0.25 per share, up from $0.01. Analysts note that, given NVIDIA’s underlying strength and future prospects, the dividend is still very modest and the yield will remain well under 1%. In absolute terms, it’s a massive dividend though. The company is looking to return $25 billion a year to shareholders, which would make it one of the largest dividend payers in the US market.
Even with this increase, it’s probably too early to consider NVIDIA a dividend growth stock. The company launched its quarterly dividend in 2013 but kept it modest for several years before the increase in 2026. It’s got a very strong competitive position, which is another reason why you might consider holding the stock even with the low yield. The moat is wide and deep thanks to the combination of its GPUs, its software, its networking, and its computing platforms. The CUDA software stack is particularly significant. The developers have spent years building applications and optimizing their workloads around CUDA. You can’t just switch to a different platform without a certain amount of additional development time and cost, which is another layer of protection for NVIDIA.
At the end of Q2 2026, 52 billionaires have invested in NVDA, as per Insider Monkey’s database. That speaks to a very high level of interest from the ultra-wealthy, but again doesn’t make it an income stock. The yield is still too low to be of any real significance for an income portfolio.
Investors looking at NVIDIA should look past the yield and concentrate on the potential for dividend growth, the potential for capital appreciation, and the overall shareholder return policy. It’s a stock that’s better suited to an investor who is looking at the company’s competitive position and the long-term growth story. The dividend is just an extra.
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