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April 10, 2014
09:04 EDTADPADP announces plan for spin-off of Dealer Services business
ADP announced that the company's board has approved a plan to separate the Dealer Services business into an independent publicly traded company through a tax-free spin-off of 100% of Dealer Services to ADP shareholders. In conjunction with the spin-off ADP expects to receive in a tax-free manner at least $700M, which proceeds ADP plans to return to its shareholders through share repurchases after the spin-off is complete, depending on market conditions. Following the spin-off, ADP expects to maintain its current 48c quarterly cash dividend per share. Over the medium to long term, ADP intends to return to its pre-separation target dividend payout ratio of 55% to 60%, while keeping intact ADP's 39 year track record of annual increases in its quarterly cash dividend, subject to approval by ADP's board. The spin-off will be completed upon receipt of all required regulatory reviews and approvals. ADP expects to complete the separation in the early part of Q4.
News For ADP From The Last 14 Days
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February 5, 2016
09:23 EDTADPADP weakness creates buying opportunity, says Argus
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February 3, 2016
07:12 EDTADPADP lowers FY16 adjusted EPS growth view to 11%-13% from 12%-14%
As a result of additional selling expenses anticipated from the increased new business bookings forecast and higher expected pressure from unfavorable foreign currency translation, ADP now anticipates adjusted diluted earnings per share growth of 11% to 13% compared with our prior forecast of 12% to 14% growth. This forecast assumes a negative impact of one to two percentage points from unfavorable foreign currency translation. On a constant dollar basis, adjusted diluted earnings per share is expected to increase 12% to 14%, compared with our prior forecast of an increase of 13% to 15%. Consensus $3.25.
07:11 EDTADPADP lowers FY16 revenue growth view to 7% from 7%-8%
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07:02 EDTADPADP reports Q2 EPS 74c, consensus 72c
Reports Q2 revenue $2.8B, consensus $2.81B. Worldwide new business bookings grew 15% for the quarter.
February 2, 2016
15:01 EDTADPADP technical notes before earnings
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14:32 EDTADPNotable companies reporting before tomorrow's open
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09:11 EDTADPADP management to meet with Oppenheimer
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07:17 EDTADPADP to hold a webinar
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