Paychex Increases Quarterly Dividend by 9%
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc. (NASDAQ:PAYX), a leading provider of human capital management solutions for small- to medium-sized businesses, today announced that its board of directors approved a $0.04 increase in the company’s regular quarterly dividend, an increase of nine percent. The dividend will go from $0.46 per share to $0.50 per share and is payable on August 24, 2017 to shareholders of record on August 1, 2017.
“The dividend increase continues the company’s history of providing outstanding shareholder value,” said Martin Mucci, Paychex president and CEO. “As we begin a new fiscal year, we continue to invest in strategic growth opportunities and our employees. These investments, combined with our financial strength, enable us to expand the returns we deliver to our shareholders.”
During the fiscal year ended May 31, 2017, Paychex returned more than $662 million in dividends, or 81% of net income, to shareholders.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients as of May 31, 2017 across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.
Efrain Rivera, CFO or Terri Allen
Laura Saxby Lynch, Director, Corporate Communications
Source: Paychex, Inc.
Released July 13, 2017