Paychex said its board approved a program to repurchase up to $400 million of common stock, with authorization expiring on May 31, 2027. The company said repurchases will begin on February 1, 2024.

8-KOther EventsFiled Jan 19, 2024Period of report Jan 19, 2024Summary published (UTC) Oct 31, 2026

Key points

AI summary

Paychex said its board approved a program to repurchase up to $400 million of common stock, with authorization expiring on May 31, 2027. The company said repurchases will begin on February 1, 2024.
The company said the new $400 million repurchase program is in addition to the existing program, whose authorization expires on January 31, 2024.
Paychex declared a quarterly dividend of $0.89 per share, payable on February 27, 2024 to shareholders of record as of February 13, 2024.
The company said it returned $1.2 billion to shareholders in dividends in fiscal 2023, which ended May 31, 2023, equal to 75% of net income.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

$400 million Repurchase Authorization

Paychex said its board approved a program to repurchase up to $400 million of common stock, with authorization expiring on May 31, 2027. The company said repurchases will begin on February 1, 2024.

Source · Based on the filing body and exhibits

Relationship to Existing Repurchase Program

The company said the new $400 million repurchase program is in addition to the existing program, whose authorization expires on January 31, 2024.

Source · Based on the filing body and exhibits

Quarterly Dividend of $0.89 per Share

Paychex declared a quarterly dividend of $0.89 per share, payable on February 27, 2024 to shareholders of record as of February 13, 2024.

Source · Based on the filing body and exhibits

Fiscal 2023 Dividend Returns to Shareholders

The company said it returned $1.2 billion to shareholders in dividends in fiscal 2023, which ended May 31, 2023, equal to 75% of net income.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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View the original filing on SEC EDGAR ↗

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