The new rate amounts to $7.60 a year. Based on Tuesday’s closing share price of $305.44, the dividend implies an annual yield of about 2.49%, compared with 2.23% at the previous payout.
The increase keeps ADP in the S&P 500 Dividend Aristocrats Index, whose 69 members have raised dividends for at least 25 consecutive years. It also preserves the payroll processor’s place among 60 dividend kings, companies that have increased their payouts annually for at least 50 years.



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