Paychex Announces Increase in Quarterly Dividend

Rhea-AI Summary

Paychex, Inc. (Nasdaq: PAYX) has announced a 6% increase in its quarterly dividend, raising it from $.62 to $.66 per share. The new dividend will be payable on May 27, 2021, to shareholders of record as of May 12, 2021. This decision reflects the company’s commitment to returning value to its shareholders while continuing to navigate a complex business environment. Paychex serves over 670,000 payroll clients and supports approximately 1 in 12 private sector employees in the U.S.

Positive

• Quarterly dividend increased by 6%, from $0.62 to $0.66 per share.
• Demonstrates company confidence and commitment to shareholder returns.

Negative

• None.

Paychex, Inc. (Nasdaq: PAYX), the HR software and services company that provides the power of simplicity for increasingly complex workplaces, today announced that its board of directors approved a $.04 increase in the company’s regular quarterly dividend, an increase of 6%. The dividend will increase from $.62 per share to $.66 per share and is payable May 27, 2021 to shareholders of record May 12, 2021.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, 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 more than 45 years of industry expertise, Paychex serves more than 670,000 payroll clients as of May 31, 2020 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.

Paychex, Inc.’s news releases, current financial information, Securities and Exchange Commission filings, and investor presentations are accessible at our Investor Relations page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210430005483/en/

FAQ

What is the new dividend amount for Paychex (PAYX)?

The new dividend amount is $0.66 per share.

When will the Paychex dividend be paid?

The dividend will be paid on May 27, 2021.

What was the previous dividend amount for Paychex (PAYX)?

The previous dividend amount was $0.62 per share.

What does the dividend increase for Paychex signify?

The dividend increase signifies the company's confidence in its financial stability and commitment to returning value to shareholders.