Paychex, Inc. (PAYX) announces 13% dividend increase, raising the regular quarterly dividend to $0.89 per share, from $0.79 per share
Dividends
April 29, 2023
April 28, 2023
Paychex, Inc. (PAYX), a leading provider of human capital management software solutions, has announced that its board of directors approved a 13% increase in the company's regular quarterly dividend. The new dividend will be $0.89 per share, an increase of $0.10 per share from the previous dividend of $0.79 per share.
The decision to increase the dividend reflects Paychex's strong financial position and confidence in its ability to continue to return value to shareholders. Paychex's President and CEO, John Gibson, stated that the decision "demonstrates our strong financial position and confidence in our ability to continue to return value to our shareholders, while also investing for growth in the business today and in the future."
The new dividend will be payable to shareholders of record on May 11, 2023, with payment being made on May 25, 2023. This dividend increase marks the 12th consecutive year that Paychex has increased its dividend payout.
Paychex expects to return approximately $1.2 billion in dividends to shareholders in fiscal 2023, ending on May 31, 2023. This demonstrates Paychex's commitment to returning value to shareholders and highlights its confidence in the future of the business.
Paychex's decision to increase its dividend payout while also investing for growth in the business demonstrates its commitment to creating long-term value for shareholders. By continuing to invest in the business, Paychex can position itself for long-term success while also returning value to its shareholders.
Members of LevelFields received the alert of this event on April 28, 9:10 AM ET
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