Dividend Aristocrat Automatic Data Processing (ADP) will raise its quarterly and will mark 47 consecutive years of dividend increases. The new quarterly dividend rate of $1.04 per share will be distributed on January 1, 2022 to shareholders of record on December 10, 2021.

"This 12% increase in our quarterly dividend represents a strong signal of the board's confidence in ADP's prospects for this fiscal year and beyond. Our dividend is a cornerstone to our long-standing commitment to shareholder-friendly actions, and we are pleased to increase it for a 47th consecutive year," said Carlos Rodriguez.

ADP is a provider of human capital management (HCM) solutions. The company's services include a wide range of human resource, payroll, tax, and benefits administration solutions. ADP's reportable business segments are Employer Services and Professional Employer Organization (“PEO”). ADP was founded in 1949 on an innovative idea: to help business owners focus on core business activities by freeing them up from certain non-core tasks such as payroll.