Sign In
Upcoming Event
Free Newsletter
Paychex authorizes $1B share repurchase, expands board
Paychex authorizes $1B share repurchase, expands board
Listen to this articlePaychex Inc. announced that its Board of Directors has authorized the repurchase of up to $1 billion of the company’s common stock, significantly expanding its capital return program. The new authorization replaces the prior 2024 approval to repurchase up to $400 million in shares.
In addition, the board declared a regular quarterly cash dividend of $1.08 per share on Paychex common stock.
The dividend will be payable on Feb. 27 to shareholders of record as of Jan. 28.
“For many years, we have maintained a long-standing commitment to delivering outstanding value to our investors,” said John Gibson, Paychex president and CEO. “Today’s new share repurchase authorization, together with our dividend declaration, demonstrates our confidence in the strength of the business, consistent cash flow generation and disciplined approach to long-term value creation.”
During fiscal 2025, Paychex returned more than $1.5 billion to shareholders through a combination of cash dividends and share repurchases.
In other company news, Paychex announced its Board of Directors has voted to expand to 11 members from 10 members. The board has also appointed J. Michael Hansen to fill the new position as an independent director.
Hansen previously served as executive vice president and chief financial officer of Cintas Corporation (Nasdaq: CTAS) for more than 10 years. Upon his retirement as CFO in May 2025, Hansen transitioned to a new role as assistant to the CEO of Cintas.
[email protected] / (585) 653-4021
=
