Paychex Boosts Quarterly Dividend by 10%

Published 4 hours agoPAYX

Paychex, Inc. has announced a significant 10% increase in its quarterly cash dividend, bringing it from $0.89 to $0.98 per share. This enhanced dividend will be available to shareholders recorded by May 10, 2024, and will be paid out on May 30, 2024.

This move underscores Paychex's robust financial standing and solid cash flow capabilities, as reported by Nasdaq.com. The company anticipates distributing around $1.3 billion in dividends during the fiscal year ending May 31, 2024, continuing its tradition of consistent quarterly dividends since 1988.

As a prominent provider of human capital management solutions, Paychex remains committed to shareholder value while aiming for continued growth. The firm's offerings span human resources, employee benefits, insurance, and payroll services, highlighting its strategic emphasis on comprehensive business support.

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