SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: October 10, 2000 (Date of earliest event reported) PAYCHEX, INC. (Exact name of registrant as specified in its charter) DELAWARE 0-11330 16-1124166 (State of incorporation) (Commission (IRS Employer File Number) Identification Number) 911 PANORAMA TRAIL SOUTH, ROCHESTER, NEW YORK 14625-0397 (Address of principal executive offices) (Zip Code) (716)385-6666 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS The registrant announced that the Board of Directors declared a 50% increase in the company's quarterly dividend from $.06 per share to $.09 per share payable November 15, 2000 to shareholders of record November 1, 2000. The registrant's press release dated October 10, 2000 is attached. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PAYCHEX, INC. Date: October 10, 2000 /s/ B. Thomas Golisano ----------------------- B. Thomas Golisano Chairman, President and Chief Executive Officer Date: October 10, 2000 /s/ John M. Morphy ----------------------- John M. Morphy Vice President, Chief Financial Officer and Secretary FOR IMMEDIATE RELEASE John M. Morphy, Chief Financial Officer Paychex, Inc. 716-385-6666 or Jan Shuler Paychex, Inc. 716-383-3406 Access Paychex, Inc. News Releases on the WORLD WIDE WEB http://www.businesswire.com PAYCHEX ANNOUNCES 50% INCREASE IN QUARTERLY DIVIDEND ROCHESTER, N.Y., October 10, 2000 - The Board of Directors of Paychex, Inc. (NASDAQ-PAYX) has declared a 50% increase in the company's quarterly dividend from $.06 per share to $.09 per share payable November 15, 2000 to shareholders of record November 1, 2000. Tom Golisano, Chairman and Chief Executive Officer, commented that the dividend increase is a result of continued earnings gains and our strong cash position. Paychex, Inc. is a national provider of payroll processing, human resource and benefits outsourcing solutions for small to medium-sized businesses. The company is a leading U.S. payroll processor with a comprehensive product offering including payroll tax returns, direct deposit and other payroll services. The human resource and benefits outsourcing services include a professional employer organization ("PEO"), 401(k) recordkeeping, section 125 cafeteria plans and employee handbooks. Paychex Inc. was founded in 1971. Headquartered in Rochester, New York, the company has over 100 locations.