Paychex Declares Quarterly Dividend and Authorizes $400 Million Stock Repurchase
January 19 2024 - 8:56AM
Business Wire
Paychex, Inc., a leading provider of integrated human capital
management software solutions for human resources, employee
benefits, insurance services, and payroll, today announced a
quarterly dividend of $.89 per share payable February 27, 2024. The
dividend is available to shareholders of record as of February 13,
2024.
Paychex also announced that the company’s board of directors
have authorized the purchase of up to $400 million of its common
stock beginning February 1, 2024. The authorization expires May 31,
2027.
“For decades, we’ve been committed to providing both exceptional
value for our investors and industry leading experiences for our
customers. Today’s dividend and stock repurchase announcements
continue the company’s history of providing exceptional shareholder
value while making strategic investments in the long-term growth of
Paychex,” said John Gibson, Paychex president and CEO.
In fiscal 2023, ended May 31, 2023, Paychex returned $1.2
billion in dividends, or 75% of net income, to shareholders.
About Paychex
Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company
delivering a full suite of technology and advisory services in
human resources, employee benefit solutions, insurance, and
payroll. The company serves approximately 740,000 customers in the
U.S. and Europe and pays one out of every 12 American private
sector employees. The more than 16,000 people at Paychex are
committed to helping businesses succeed and building thriving
communities where they work and live. To learn more, visit
www.paychex.com.
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Investor Relations Contact Bob Schrader Senior Vice
President & Chief Financial Officer 585-383-3406
Terri Allen 585-383-3406
Media Contact Chris Muller Paychex, Inc. 585-338-4346
cmuller@paychex.com
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