Dividend Aristocrat ADP surprises with another big dividend hike in 2023

adp 2023 dividend hike

Dividend Aristocrat ADP
increases its dividend by an impressive 12% to a new record of $1.40 per quarter. It's the payroll giant's 49th consecutive year of dividend growth.

The board of directors of ADP (ticker symbol ADP) approved a $0.15 increase in the quarterly cash dividend to an annual rate of $5.60 per share, Maria Black, ADP's chief executive officer, announced today. The increased cash dividend marks the 49th consecutive year in which ADP, a leading global technology company providing human capital management (HCM) solutions, has raised its quarterly dividend. Last year ADP announced an even bigger hike of 20.2%.

"This 12% increase in our quarterly dividend signifies our 49th year of consecutive annual dividend increases. Our dividend is a cornerstone to our long-standing commitment to shareholder-friendly actions, and we are pleased to be one of a select group of companies with such a track record," said Maria Black.


  • 2023: +12%
  • 2022: +20,2%
  • 2021: +11,8%
  • 2020: +2,0%
  • 2019: +15,2%

The new quarterly dividend rate of $1.40 per share will be distributed on January 1, 2024 to shareholders of record on December 8, 2023. ADP is yielding 2.5% at a stock price of $225 with the new dividend hike included in this calculation.

ADP now pays an estimated $2.3 billion in dividends annually to shareholders. Dividend growth has been quite strong the last couple of years with double digit growth in each of the last 3 years and a 5 year CAGR of 12.1%. Another Dividend Aristocrat announcing a dividend hike this week is Emerson.

Automatic Data Processing, Inc. (ADP) is a global technology company engaged in providing cloud-based human capital management (HCM) solutions that unite HR, payroll, talent, time, tax and benefits administration.

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