Automatic Data Processing Increases Cash Dividend 4%; Marks 29th Consecutive Year of Dividend Increases.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--Nov. 12, 2002 The board of directors of Automatic Data Processing Same as data processing. , Inc., (NYSE NYSE See: New York Stock Exchange : ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. ) approved a 4% increase in the cash dividend to an annual rate of 48 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , Arthur F. Weinbach, chairman and chief executive officer, announced today. This increased dividend will be distributed on January 1, 2003 to shareholders of record December 13, 2002. The new quarterly dividend of 12 cents per share compares with the previous quarterly dividend rate of 11.5 cents per share. The increased cash dividend marks the 29th consecutive year in which the company has raised its dividend. ADP, with over $7 billion in revenues and 500,000 clients, is one of the largest independent computing services firms in the world. This release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " based on management's expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ from those expressed. Factors that could cause differences include: ADP's success in obtaining, retaining and selling additional services to clients; the pricing of products and services; changes in laws regulating payroll taxes and employee benefits; overall economic trends, including interest rate and foreign currency trends; stock market activity; auto sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. and related industry changes; employment levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion