By Colin Kellaher
Automatic Data Processing Inc. on Wednesday said its board raised the quarterly dividend by 20%, to $1.25 from $1.04.
The new payout, equal to $5 a year, represents an annual yield of about 2.04% based on Tuesday's closing price of $245.04, up from 1.7%.
The Roseland, N.J., payroll processor said the increased dividend is payable Jan. 1 to shareholders of record Dec. 9.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
11-09-22 0855ET
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November 09, 2022 at 08:56PM
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