RTTNews | Jul 8, 2021 08:47AM EDT

08:46 Thursday, July 8, 2021 (RTTNews.com) - Payroll and HR services provider Paychex Inc. (PAYX) announced Thursday that a quarterly dividend of $0.66 per share, payable August 26, 2021 to shareholders of record as of August 2, 2021.

Paychex also announced the company's board of directors have authorized the purchase of up to $400 million of its common stock. The authorization expires January 31, 2024.

In fiscal 2021 ended May 31, 2021, Paychex returned $909 million in dividends, or 83% of net income, to shareholders.

"Today's dividend and stock repurchase announcement are an illustration of that commitment and positions us to continue to make strategic investments in the long-term growth of Paychex," said Martin Mucci, Paychex president and CEO.

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