Automatic Data Processing Inc. ADP, -0.47% said Wednesday it will increase its quarterly cash dividend by 12% to an annual rate of $4.16 per share. It’s the 47th consecutive year that ADP has raised its quarterly dividend. The new quarterly dividend rate of $1.04 per share will be distributed on Jan. 1, 2022 to shareholders of record on Dec. 10. Shares of ADP are up 30% this year, compared to a rise of 24.7% by the S&P 500.
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