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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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November 21, 2014
06:37 EDTADPADP initiated with a Sell at Topeka
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November 13, 2014
08:04 EDTADPADP expanding office in Barcelona
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November 12, 2014
09:14 EDTADPADP to hold a webcast on the Affordable Care Act
Management hosts a webcast entitled, "What Small Businesses Need to Know About the Affordable Care Act (ACA): Actions You May Need to Take Before Year End" is being held on November 12 at 3 pm. Webcast Link
November 11, 2014
12:33 EDTADPADP raises quarterly dividend 1c to 49c per share
The board of directors of Automatic Data Processing approved a 1c increase in the quarterly cash dividend to an annual rate of $1.96 per share, Carlos Rodriguez, president and CEO announced. The increased cash dividend marks the 40th consecutive year in which ADP has raised its quarterly dividend. The new quarterly dividend rate of 49c per share compares with the previous quarterly dividend rate of 48c per share. This increased quarterly dividend will be distributed on January 1, 2015 to shareholders of record at December 12, 2014. "ADP remains committed to returning excess cash to its shareholders, and four decades of increased dividends is a gratifying milestone," said Rodriguez. "Along with providing client-focused, innovative HCM services and a fulfilling workplace for our associates, ADP remains committed to its shareholder friendly actions, and I am pleased that we have continued our history of dividend increases despite the recent spin-off of CDK Global."

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