Paychex Increases Quarterly Dividend and Authorizes $350 Million Stock Repurchase

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 10 percent. The dividend will go from $0.42 per share to $0.46 per share and is payable on August 25, 2016 to shareholders of record on August 1, 2016.

Paychex also announced that its board authorized the purchase of up to $350 million of its common stock. The end date for the authorization is May 31, 2019.

To read the full news release, click here.

 

By | 2016-07-07T14:04:48+00:00 July 7th, 2016|Financial News|

About the Author:

Lisa Fleming
Lisa Fleming joined Paychex in 2006 and last year was promoted to the position of public relations manager. As part of her role, Lisa leads the department’s external communications efforts and manages the company’s relationship with its outside PR agency partner, Eric Mower & Associates. Lisa is a graduate of Canisius College in Buffalo, New York where she studied English and Communications.