A number of academic and other studies have reported that companies that pay a steady and ample dividend have historically outperformed the stock market. A dividend is believed to instill a disciplined management style to the company leaders and keep them from foolishly pursuing acquisitions or other activities that might destroy shareholder value. The technology industry hasn't historically embraced dividend payments, choosing instead to acquire rivals or even store billions of excess liquidity on their balance sheets. Currently, the average dividend yield for the industry is rather paltry at 1.6% and below the current market average of 2.2%. Below are five tech stocks that have above-average yield and also look appealing as investment candidates.

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Computer Sciences Corp. (NYSE:CSC), or CSC for short, is an information technology (IT) and professional services firm. Its current dividend yield is 3.3%. The company specializes in serving the public sector such as the federal government, as well as state and local agencies. This lends itself to stable sales trends and served the firm well during the Great Recession. Reported profits have been more erratic and due to non-cash related charges, but cash flow generation has been relatively steady and has easily covered the annual dividend payout.

SEE: Cash Flow Indicator Ratios: Dividend Payout Ratio

CA Technologies (Nasdaq:CA) currently sports a very ample dividend yield of 4.1%. Its primary business, at roughly 60% of total sales, is to support mainframes for businesses throughout the world. It is technically an application software firm that helps client IT departments function and manage their data. Its business also sailed through the most recent economic downturn and cash flow easily covers the annual dividend. CA has also more than tripled its payout since 2011 as sales grow respectably and profits continue to expand nicely.

SEE: The Power Of Dividend Growth

Many investors have written off Garmin (Nasdaq:GRMN) as a has-been because navigation software, but it is now widely available in most smartphones for free. Sales have indeed struggled in recent years, but Garmin has been finding successful niches to sell its devices. These include the outdoor and fitness, such as for aviation and marine functions, including products that help outdoor enthusiasts find ideal fishing conditions. Sales are expected to be flat over the next couple of years, but profits are growing and can easily support a current dividend yield of 4.7%.

Semiconductor giant Intel (Nasdaq:INTC) is projected to log total sales of nearly $56 billion this year, but will still be able to achieve mid-single digit annual sales growth over the next couple of years. Over the past two years, it has reported free cash flow of more than $10 billion and pays out only roughly a third of this as dividends. The current annual dividend yield is 3.2% to exceed both the industry and market averages. Combined with around $15 billion sitting in cash on the balance sheet, Intel should be able to achieve decent operational growth and grow its dividend over time.

SEE: 3 Reasons To Buy Dividend Stocks Video

Rogers Communications (NYSE:RCI) is the second highest dividend payer of the group. It currently pays a 3.9% dividend yield. Rogers may not be a household name in the United States, but it is the largest provider of 4G broadband services in Canada. Cell phone penetration in Canada still lags its southern neighbor, so there appears to be ample room for Rogers to continue to grow sales and support its dividend payout.

The Bottom Line
There are solid options for investors in the technology industry to combine above-average dividend yields with companies that are profitable and should grow shareholder value in the coming three to five years.

At the time of writing, Ryan C. Fuhrmann did not own shares in any of the companies mentioned in this article.

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