Automatic Data Processing (ADP) will raise its quarterly dividend to $0.53 per share. The increased quarterly dividend will be distributed on January 1, 2017 to shareholders of record at December 9, 2016.

"Along with ADP's long-standing focus on our clients and our associates, we remain committed to our shareholder friendly actions. Our 42-year track record of increasing dividends is evidence of this commitment," said Carlos Rodriguez, president and chief executive officer of ADP.

ADP has a 2.5% dividend yield at the current stock price of $91.33. 

Automatic Data Processing, Inc. (ADP) is a provider of business outsourcing solutions to employers, offering solutions to businesses of various sizes. The Company's services include a wide range of human resource, payroll, tax, and benefits administration solutions.