Paychex raises quarterly dividend 10% to $1.08 from 98c per share

Paychex (PAYX) declared a 10% increase in its quarterly cash dividend to $1.08 per share, up from 98c per share previously. The dividend is payable May 29 to shareholders of record as of May 12. The company noted the increase reflects its strong financial performance and expects to return over $1.4B in dividends this fiscal year.