Paychex authorizes $400M share repurchase, declares $0.89 quarterly dividend

PAYCHEX INC

Board approved up to $400 million common stock repurchase program expiring May 31, 2027; begins Feb 1, 2024.
Quarterly dividend of $0.89 per share declared, payable Feb 27, 2024 to shareholders of record Feb 13, 2024.
New buyback is in addition to existing program expiring Jan 31, 2024.
In FY2023 (ended May 31, 2023), Paychex returned $1.2B in dividends (75% of net income) to shareholders.

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