Paychex (PAYX) Raises Quarterly Dividend 12% to $.56; 3.7% Yield

Paychex (NASDAQ: PAYX) declared a quarterly dividend of $.56 per share, or $2.24 annualized. This is a 12% increase from the prior dividend of $.50.

The dividend will be payable on May 24, 2018, to stockholders of record on May 9, 2018, with an ex-dividend date of May 8, 2018.

The annual yield on the dividend is 3.7 percent.

“This dividend increase demonstrates our commitment to providing a benefit to our shareholders as a result of the Tax Cuts and Jobs Act (TCJA) and continues the company’s history of providing outstanding shareholder value and a leading dividend yield,” said Martin Mucci, Paychex president and CEO. “Paychex is uniquely positioned in our industry to benefit from the TCJA due to our strong margins. As we realize these tax benefits, we continue to invest in strategic growth opportunities. These investments, combined with our financial strength, enable us to expand the returns we deliver to our shareholders.”

For a dividend history and other dividend-related data on Paychex (PAYX) click here.

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