With earnings season well under way, lots of companies are announcing dividend increases. If you're looking for companies with strong dividend growth, here are three tech stocks to consider.

Intel, Cisco, and Corning all announced double-digit increases to their dividends recently. More importantly, each of them looks poised to see more dividend growth in the coming years. Here's a look at each of these tech stocks' dividends.

A chalkboard sketch of a bar chart showing growth

Image source: Getty Images.

Company

Dividend Increase

5-Year Average Annualized Dividend Growth

Dividend Yield

Intel (NASDAQ:INTC)

10%

4%

2.4%

Cisco (NASDAQ:CSCO)

14%

31%

2.6%

Corning (NYSE:GLW)

16%

15%

2.1%

Data source: Morningstar and company quarterly press releases. Table source: author.

Intel

Recently finishing out a record year and record fourth quarter, Intel was more than ready to announce a dividend increase. Fourth-quarter and full-year revenue were $17.1 billion and $62.8 billion, up 8% and 9%, respectively, when excluding revenue from McAfee in comparisons. Cash from operations also hit record levels, rising to $22 billion.

In its fourth-quarter earnings release, Intel said it was increasing its quarterly dividend by 10% to $0.30, or $1.20 on an annual basis.

Combining its double-digit dividend growth, a dividend yield of 2.4%, and the fact that Intel is paying out just 43% of its free cash flow in dividends, there is plenty of reason to like Intel as a dividend stock.

Cisco

Alongside its second-quarter results for fiscal 2018, networking and information technology company Cisco said it was boosting its quarterly dividend to $0.33 per share, representing a 14% increase. Cisco also authorized an additional $25 billion for stock repurchases.

The announcement came as Cisco reported second-quarter revenue of $11.9 billion, up 3% year over year. Operating income for the quarter was $3.1 billion, up 6% year over year.

Cisco has a strong dividend yield of 2.6% and pays out only about 42% of its free cash flow in dividends, leaving plenty of room for further dividend growth.

Corning

Corning, which makes glass for technology applications such as touch displays and optical communications, announced a dividend increase in January alongside its fourth-quarter and full-year results. The company said it is increasing its quarterly dividend by 16% to $0.18 per share.

The dividend increase caps off a solid year in which full-year revenue from its core business rose 8% year over year to $10.1 billion. Core earnings per share for the period were $1.72, up 11% year over year, when excluding non-cash charges related to tax reform.

With a payout ratio of just 26%, Corning has significant room for increases. Indeed, its low payout ratio helps explain why Corning's dividend saw the steepest increase of these three stocks. But with a dividend yield of 2.1%, investors who buy Corning for its dividend will have to settle for a lower dividend yield today than Intel and Cisco investors get.

For investors looking for income, these three stocks are worth considering. Each of these companies not only increased their dividends by double-digit percentages, but they have room for more increases and boast meaningful dividend yields and growing businesses.

Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool recommends Cisco Systems, Corning, and Intel. The Motley Fool has a disclosure policy.