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Share Name | Share Symbol | Market | Type |
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Paychex Inc | NASDAQ:PAYX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.75 | 1.48% | 120.16 | 117.06 | 120.44 | 120.61 | 118.25 | 118.41 | 4,177,946 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On January 19, 2024, the Company announced that the Board approved a program to repurchase up to $400 million of Paychex common stock with authorization expiring on May 31, 2027. The Board voted to authorize the repurchase program on January 19, 2024. This repurchase program is in addition to the existing program with authorization expiring on January 31, 2024. Also on January 18, 2024, the Company announced a quarterly dividend of $0.89 per share payable February 27, 2024 to shareholders of record as of February 13, 2024. The Company’s press release dated January 19, 2024, announcing the repurchase program and dividend is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
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Exhibit 99.1 |
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Exhibit 104 |
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PAYCHEX, INC. |
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Date: |
January 19, 2024 |
By: |
/s/ John B. Gibson |
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President and Chief Executive Officer |
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Date: |
January 19, 2024 |
By: |
/s/ Robert L. Schrader |
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Senior Vice President and Chief Financial Officer |
Paychex Declares Quarterly Dividend and Authorizes
$400 Million Stock Repurchase
Rochester, N.Y. (January 19, 2024) – Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, employee benefits, insurance services, and payroll, today announced a quarterly dividend of $.89 per share payable February 27, 2024. The dividend is available to shareholders of record as of February 13, 2024.
Paychex also announced that the company’s board of directors have authorized the purchase of up to $400 million of its common stock beginning February 1, 2024. The authorization expires May 31, 2027.
“For decades, we’ve been committed to providing both exceptional value for our investors and industry leading experiences for our customers. Today’s dividend and stock repurchase announcements continue the company's history of providing exceptional shareholder value while making strategic investments in the long-term growth of Paychex,” said John Gibson, Paychex president and CEO.
In fiscal 2023, ended May 31, 2023, Paychex returned $1.2 billion in dividends, or 75% of net income, to shareholders.
About Paychex
Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves approximately 740,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live. To learn more, visit www.paychex.com.
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Investor Relations Contact
Bob Schrader
Senior Vice President & Chief Financial Officer
585-383-3406
Terri Allen
585-383-3406
Media Contact
Chris Muller
Paychex, Inc.
585-338-4346
cmuller@paychex.com
Document And Entity Information |
Jan. 19, 2024 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jan. 19, 2024 |
Entity Registrant Name | Paychex, Inc. |
Entity Central Index Key | 0000723531 |
Entity Emerging Growth Company | false |
Entity File Number | 01-11330 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 16-1124166 |
Entity Address, Address Line One | 911 Panorama Trail South |
Entity Address, City or Town | Rochester |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 14625-2396 |
City Area Code | (585) |
Local Phone Number | 385-6666 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.01 par value |
Trading Symbol | PAYX |
Security Exchange Name | NASDAQ |
1 Year Paychex Chart |
1 Month Paychex Chart |
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