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Stock Market & Financial Investment News

News Breaks
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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March 19, 2015
09:05 EDTADPADP weakness creates buying opportunity, says Argus
Argus believes that growth at ADP is accelerating as the U.S. labor market improves. The firm says the company has a history of "tremendous dividend growth," and one of the strongest balance sheet in the U.S. Argus keeps a $98 price target and Buy rating on the shares.
March 16, 2015
08:52 EDTADPTriNet opportunity meaningful, improving, says Stifel
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