By Colin Kellaher
Automatic Data Processing Inc. Wednesday said its board raised the quarterly dividend by 2.2% to 93 cents from 91 cents.
The new payout, equal to $3.72 a year, represents an annual yield of about 2.17% based on Tuesday's closing price of $171.07, up from 2.13%.
The Roseland, N.J., payroll processor said the increased dividend is payable Jan. 1 to shareholders of record Dec. 11.
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(END) Dow Jones Newswires