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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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October 14, 2014
08:36 EDTADPADP announces new business relationship with TD Ameritrade
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October 9, 2014
06:39 EDTADPFidelity attacked by JPMorgan hackers, but no data stolen, FT reports
Fidelity Investments was among 13 financial institutions attacked by hackers who are believed to have been responsible for a breach at JPMorgan Chase, but there is no indication that Fidelity customer data were stolen, the Financial Times reports, citing two sources. Reference Link
06:37 EDTADPJPMorgan hackers linked to 13 other possible breaches, Bloomberg says
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October 8, 2014
18:26 EDTADPCitigroup, Etrade, others attacked by same JPMorgan hackers, Bloomberg reports
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