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