ROCHESTER, N.Y. — Paychex, Inc. (NASDAQ: PAYX) announced Thursday it is increasing the quarterly dividend it pays shareholders to 38 cents a share from 35 cents.
At the company’s current stock price, the new annual dividend yield amounts to about 3.6 percent, up from 3.4 percent before the increase.
The next Paychex dividend payment is payable Aug. 15, to shareholders of record Aug. 1.
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Rochester–based Paychex provides payroll, human resources, insurance, and benefits-outsourcing services to small and medium-sized businesses. It is the largest payroll-preparation company in the 16-county Central New York market with 6,800 CNY payroll-service clients, according to CNYBJ Research.
Paychex has more than 100 offices companywide, including CNY locations in Salina and Vestal.
Contact Rombel at arombel@cnybj.com
