ADP raises dividend for 45th consecutive year in 2019
ADP will increase its quarterly payment by 12 cents to 91 cents per share.
The new quarterly dividend rate of $0.91 per share will be distributed on January 1, 2020 to shareholders of record on December 13, 2019.
The increased cash dividend marks the 45th consecutive year in which ADP, a leading global technology company providing human capital management (HCM) solutions, has raised its quarterly dividend.
"The 15% increase in our quarterly dividend is the latest example of ADP's long-standing commitment to shareholder-friendly actions and is a strong signal of the board's confidence in ADP's future," said Carlos Rodriguez.
ADP stock has gained 29 percent year-to-date. The new annual dividend rate of $3.64 per share results in a dividend yield of 2.2 percent at at stock price of $168. Last year ADP raised its dividend two times from 63 cents to 79 cents.
About ADP: Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. (source company press release).
