The hard-hit tech sector has 3 high-yielding stocks you absolutely need to know about

As the second quarter earnings season draws to a close, it is clear that the technology sector has been among the hardest hit sectors. According to CSI Markets, the performance of the technology sector is down 23% year-to-date as of August 29, 2022.

However, there are three tech companies poised to boost shareholder value by boosting earnings performance, offering stock buybacks, or increasing dividend payouts.

IBM

International Business Machines Corp. IBM offers a dividend yield of 5.06% or $6.60 per share per year, making quarterly payments with a strong history of increasing its dividends for 28 years. In 2021, IBM is present in 175 countries and employs approximately 350,000 people, selling mainly software, IT services, consulting and hardware.

In the second quarter, IBM had revenue of $15.5 billion. This is 9% more than a year ago. The company expects approximately $10 billion in consolidated free cash flow.

Seagate

Seagate Technology Holdings plc STX offers a dividend yield of 3.86% or $2.80 per share per year, using quarterly payouts, with a decent track record of increasing its dividends for three consecutive years. Seagate Technology is a leading provider of data storage hard drives for the business and consumer markets. For the full year, the Cupertino, Calif.-based company paid cash dividends of $610 million and used $1.8 billion to repurchase 20 million common shares, or 9% of outstanding shares .

See also: Why lose money in a bear market? These actions go against the trend

HP

Hewlett Packard Enterprise Co. HPE offers a dividend yield of 3.50% or 48 cents per share per year, through quarterly payments, with an inconsistent history of increasing its dividends. Hewlett Packard Enterprise is an IT infrastructure products and services provider, employing approximately 60,000 employees in 2021.

The Palo Alto, Calif.-based company used $1 billion in cash during the quarter to repurchase approximately 27.4 million common shares on the open market, with a total of $1.3 billion returned to shareholders at the end of the quarter.

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