Paychex, Inc. (NASDAQ:PAYX), a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, today announced that its board of directors approved a $.13 increase in the company's regular quarterly dividend, an increase of 20 percent. The dividend will increase from $.66 per share to $.79 per share and is payable May 26, 2022 to shareholders of record May 12, 2022.

"The decision by the board to increase the quarterly dividend reflects the company's strong year-to-date results, financial strength, and commitment to returning cash to shareholders," said Martin Mucci, Paychex chairman and CEO. "Our strong results this fiscal year have allowed us to make investments in the business to support our long-term growth as well as return capital to our shareholders, consistent with our long-term capital allocation strategy."

With this increase, Paychex will return $1 billion in dividends to shareholders in Fiscal 2022.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex served more than 710,000 payroll clients as of May 31, 2021 in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.

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Paychex Declares 20% Increase in Quarterly Dividend