Paychex increases dividend to 33c, authorizes $350M stock buyback

The Board of Directors of Paychex declared a 1c increase in the company’s regular quarterly dividend. The 33c per share dividend is payable November 15 to shareholders of record November 2. The company also announced that the Board has authorized the purchase of up to $350M of its common stock. The end date for the authorization is May 31, 2014.

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