HR and payroll-solutions provider Paychex (NASDAQ:PAYX) has increased its regular quarterly dividend by $0.02. This 6% rise is the company's largest since July 2007, and brings its quarterly payout to $0.35 a share.
The amount will be available to current shareholders as of August 1, and will be payable on August 15. During Paychex's fiscal 2013, the company returned 84% of its net income, or $476.7 million, back to its investors as dividends.
Paychex's president and chief executive officer, Martin Mucci, expects 2013 to be a year of "solid growth as a result of our employees' performance in sales and service delivery," which helps the company offer a healthy dividend to shareholders, as well as "invest in promising opportunities [and] our employees."