Paychex Says Accelerating Dividends from Q3 and Q4; Total $0.66
The Board of Directors of Paychex, Inc. (NASDAQ: PAYX), a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, today declared an accelerated dividend for the third and fourth quarters of fiscal 2013 totaling $.66 per share of common stock. The accelerated dividend is intended by the Board to be in lieu of quarterly dividends Paychex would otherwise have announced in the third and fourth quarters of fiscal 2013, and paid in February and May 2013.
The accelerated dividend is payable December 28, 2012 to shareholders of record December 20, 2012.
“The Board's vote today in support of the dividend acceleration is very consistent with Paychex's shareholder-friendly approach,” said Martin Mucci, Paychex president and chief executive officer. “We do expect taxes on dividends to increase, and we are in a position to accelerate dividend payments, so taking this step is another reflection of our commitment to delivering shareholder value.”
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