ADP raises dividend for 43rd consecutive year
Automatic Data Processing (ADP) will raise its quarterly dividend by six cents in the fourth quarter of 2017.
The new quarterly dividend rate of $0.63 per share translates into an annual dividend payment of $2.52, up almost eleven percent from the previous rate. This marks the 43rd consecutive year of dividend increases by ADP, one of the 51 Dividend Aristocrats.
“Throughout ADP’s long and successful history, we have been committed to our shareholder friendly actions. There is no better evidence of our commitment to our shareholders than our 43-year track record of increasing dividends,” said John Jones, chairman of ADP’s board of directors. “This year’s 10.5% increase in our quarterly dividend is a strong signal of the board’s confidence in ADP’s future,” said Carlos Rodriguez.
ADP currently has a dividend yield of 2.1%. The stock has gained 9.7 percent year-to-date. Last year ADP increased its dividend for the 42nd straight year.
Automatic Data Processing, Inc. (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes.