Paychex Boosts Dividend by 6%
HR and payroll-solutions provider Paychex has increased its regular quarterly dividend by $0.02. This 6% rise is the company's largest since July 2007, and brings its quarterly payout to $0.35 a share.
The amount will be available to current shareholders as of August 1, and will be payable on August 15. During Paychex's fiscal 2013, the company returned 84% of its net income, or $476.7 million, back to its investors as dividends.
Paychex's president and chief executive officer, Martin Mucci, expects 2013 to be a year of "solid growth as a result of our employees' performance in sales and service delivery," which helps the company offer a healthy dividend to shareholders, as well as "invest in promising opportunities [and] our employees."
The article Paychex Boosts Dividend by 6% originally appeared on Fool.com.Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool recommends Paychex. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.