Dividend Aristocrat Automatic Data Processing (ADP) will raise its quarterly dividend by 9.5 percent to $0.69 per share. This follows a 10.5 percent dividend hike by the company in the fourth quarter of 2017.
The new dividend is payable July 1, 2018 to shareholders of record on June 8, 2018. The new dividend yield for ADP is 2.4%.
The dividend increase represents a return to shareholders of a portion of the benefits from the Tax Cuts and Jobs Act of December 2017. The Board of Directors anticipates consideration of another dividend increase in November 2018 consistent with ADP’s historical pattern throughout its 43 year track record of annual dividend increases.
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.
2022