By Colin Kellaher
Automatic Data Processing Inc. Wednesday said its board raised the quarterly dividend by 2.2% to 93 cents from 91 cents.
The new payout, equal to $3.72 a year, represents an annual yield of about 2.17% based on Tuesday's closing price of $171.07, up from 2.13%.
The Roseland, N.J., payroll processor said the increased dividend is payable Jan. 1 to shareholders of record Dec. 11.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
11-11-20 0856ET