Paychex (PAYX) Dividend History & Yield
Dividend ContenderPaychex (PAYX) has increased its dividend for 13 consecutive years and currently yields 4.67%. The most recent dividend was $1.0800/share on Feb 27, 2026, paid Quarterly.
PAYX
Current Yield
4.67%
TTM Dividend/Share
$4.43
Payment Frequency
Quarterly
Payout Ratio
97.8%
Consecutive Growth Years
13 (Dividend Contender)
Div Growth (1Y CAGR)
10.18%
Div Growth (5Y CAGR)
11.22%
Div Growth (10Y CAGR)
10.18%
PAYX: compare the "Now" marker to the 1Y / 3Y / 5Y averages on the scale. One valuation signal among many — review fundamentals before investing.
Dividend health
Chowder score
15.9%
FCF payout ratio
18.1%
Net debt / EBITDA
1.1x
Interest coverage
8.70x
ROIC (TTM)
20.4%
Dividend Safety Score
5 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 97.8%, above the 75% threshold.
Free cash flow covers dividend
FCF/share ($4.88) covers dividend/share ($4.43).
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
13 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 18.1%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 1.1x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (11.2%) exceeds EPS growth (-13.2%) — payout ratio expanding.
Per-payment dividend history
Ex-date May 13, 2026
- Payment date
- May 29, 2026
- Dividend
- $1.1900
- Adj. dividend
- $1.1900
Ex-date Jan 28, 2026
- Payment date
- Feb 27, 2026
- Dividend
- $1.0800
- Adj. dividend
- $1.0800
Ex-date Nov 7, 2025
- Payment date
- Nov 26, 2025
- Dividend
- $1.0800
- Adj. dividend
- $1.0800
Ex-date Jul 21, 2025
- Payment date
- Aug 29, 2025
- Dividend
- $1.0800
- Adj. dividend
- $1.0800
Ex-date May 12, 2025
- Payment date
- May 29, 2025
- Dividend
- $1.0800
- Adj. dividend
- $1.0800
Ex-date Feb 7, 2025
- Payment date
- Feb 27, 2025
- Dividend
- $0.9800
- Adj. dividend
- $0.9800
Ex-date Nov 7, 2024
- Payment date
- Nov 27, 2024
- Dividend
- $0.9800
- Adj. dividend
- $0.9800
Ex-date Aug 8, 2024
- Payment date
- Aug 29, 2024
- Dividend
- $0.9800
- Adj. dividend
- $0.9800
Ex-date May 9, 2024
- Payment date
- May 30, 2024
- Dividend
- $0.9800
- Adj. dividend
- $0.9800
Ex-date Feb 12, 2024
- Payment date
- Feb 27, 2024
- Dividend
- $0.8900
- Adj. dividend
- $0.8900
Ex-date Nov 13, 2023
- Payment date
- Nov 28, 2023
- Dividend
- $0.8900
- Adj. dividend
- $0.8900
Ex-date Aug 9, 2023
- Payment date
- Aug 24, 2023
- Dividend
- $0.8900
- Adj. dividend
- $0.8900
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| May 13, 2026 | May 29, 2026 | $1.1900 | $1.1900 |
| Jan 28, 2026 | Feb 27, 2026 | $1.0800 | $1.0800 |
| Nov 7, 2025 | Nov 26, 2025 | $1.0800 | $1.0800 |
| Jul 21, 2025 | Aug 29, 2025 | $1.0800 | $1.0800 |
| May 12, 2025 | May 29, 2025 | $1.0800 | $1.0800 |
| Feb 7, 2025 | Feb 27, 2025 | $0.9800 | $0.9800 |
| Nov 7, 2024 | Nov 27, 2024 | $0.9800 | $0.9800 |
| Aug 8, 2024 | Aug 29, 2024 | $0.9800 | $0.9800 |
| May 9, 2024 | May 30, 2024 | $0.9800 | $0.9800 |
| Feb 12, 2024 | Feb 27, 2024 | $0.8900 | $0.8900 |
| Nov 13, 2023 | Nov 28, 2023 | $0.8900 | $0.8900 |
| Aug 9, 2023 | Aug 24, 2023 | $0.8900 | $0.8900 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Paychex has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 13 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $4.2200 | — | — |
| 2025 | $3.8300 | $4.2200 | +10.2% |
| 2024 | $3.4600 | $3.8300 | +10.7% |
| 2023 | $3.0300 | $3.4600 | +14.2% |
| 2022 | $2.6000 | $3.0300 | +16.5% |
| 2021 | $2.4800 | $2.6000 | +4.8% |
| 2020 | $2.4200 | $2.4800 | +2.5% |
| 2019 | $2.1800 | $2.4200 | +11.0% |
| 2018 | $1.9200 | $2.1800 | +13.5% |
| 2017 | $1.7600 | $1.9200 | +9.1% |
| 2016 | $1.6000 | $1.7600 | +10.0% |
| 2015 | $1.4600 | $1.6000 | +9.6% |
| 2014 | $0.7000 | $1.4600 | +108.6% |
| 2013 | $1.9500 | $0.7000 | -64.1% |
| 2012 | $1.2500 | $1.9500 | +56.0% |
| 2011 | $1.2400 | $1.2500 | +0.8% |
| 2010 | $1.2400 | $1.2400 | 0.0% |
| 2009 | $1.2200 | $1.2400 | +1.6% |
| 2008 | $1.0200 | $1.2200 | +19.6% |
| 2007 | $0.6900 | $1.0200 | +47.8% |
| 2006 | $0.5500 | $0.6900 | +25.5% |
| 2005 | $0.4900 | $0.5500 | +12.2% |
| 2004 | $0.4500 | $0.4900 | +8.9% |
| 2003 | $0.4400 | $0.4500 | +2.3% |
| 2002 | $0.3800 | $0.4400 | +15.8% |
| 2001 | $0.2700 | $0.3800 | +40.7% |
| 2000 | $0.1800 | $0.2700 | +50.0% |
| 1999 | $0.1200 | $0.1800 | +50.0% |
| 1998 | $0.0800 | $0.1200 | +50.0% |
| 1997 | $0.0533 | $0.0800 | +50.0% |
| 1996 | $0.0356 | $0.0533 | +50.0% |
| 1995 | $0.0237 | $0.0356 | +50.0% |
| 1994 | $0.0158 | $0.0237 | +50.0% |
| 1993 | $0.0105 | $0.0158 | +50.0% |
| 1992 | $0.0082 | $0.0105 | +28.6% |
| 1991 | $0.0066 | $0.0082 | +23.5% |
| 1990 | $0.0051 | $0.0066 | +30.7% |
| 1989 | — | $0.0051 | — |
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Paychex (PAYX) from the consolidated cash flow statement, in USD as filed.
Latest period
$1.55B
YoY change
+10.1%
5Y CAGR
+10.2%
Peak year (2025)
$1.45B
Latest annual
$1.45B
Cash dividends paid over time for Paychex (PAYX)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Paychex (PAYX)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $1.45B | +10.1% | +$133.20M | ||
| 2024 | $1.32B | +11.9% | +$140.30M | ||
| 2023 | $1.18B | +17.5% | +$175.40M | ||
| 2022 | $999.60M | +10.0% | +$90.90M | ||
| 2021 | $908.70M | +2.2% | +$19.30M | ||
| 2020 | $889.40M | +7.6% | +$62.60M | ||
| 2019 | $826.80M | +11.8% | +$87.10M | ||
| 2018 | $739.70M | +11.7% | +$77.40M | ||
| 2017 | $662.30M | +9.2% | +$55.80M | ||
| 2016 | $606.50M | +9.9% | +$54.70M | ||
| 2015 | $551.80M | +8.1% | +$41.20M | ||
| 2014 | $510.60M | +7.1% | +$33.90M | ||
| 2013 | $476.70M | +3.5% | +$16.20M | ||
| 2012 | $460.50M | +2.6% | +$11.70M | ||
| 2011 | $448.80M | +0.1% | +$242,000 | ||
| 2010 | $448.56M | +0.2% | +$826,000 | ||
| 2009 | $447.73M | +1.3% | +$5.59M | ||
| 2008 | $442.15M | +46.7% | +$140.83M | ||
| 2007 | $301.31M | +30.1% | +$69.76M | ||
| 2006 | $231.55M | +20.0% | +$38.58M | ||
| 2005 | $192.98M | +8.8% | +$15.57M | ||
| 2004 | $177.41M | +7.2% | +$11.96M | ||
| 2003 | $165.45M | +5.1% | +$7.97M | ||
| 2002 | $157.48M | +27.9% | +$34.37M | ||
| 2001 | $123.11M | +50.9% | +$41.53M | ||
| 2000 | $81.58M | +50.9% | +$27.53M | ||
| 1999 | $54.05M | +50.7% | +$18.18M | ||
| 1998 | $35.87M | +48.8% | +$11.77M | ||
| 1997 | $24.10M | +60.7% | +$9.10M | ||
| 1996 | $15.00M | +51.5% | +$5.10M | ||
| 1995 | $9.90M | +50.0% | +$3.30M | ||
| 1994 | $6.60M | +50.0% | +$2.20M | ||
| 1993 | $4.40M | +46.7% | +$1.40M | ||
| 1992 | $3.00M | +20.0% | +$500,000 | ||
| 1991 | $2.50M | +25.0% | +$500,000 | ||
| 1990 | $2.00M | — | — |
The 2025 reading of Paychex (PAYX) dividends paid is $1.45B – grew 10.1% year-over-year.
Paychex dividends paid compound annual growth for the 2020–2025 (5 years) window is +10.2%, sustaining 35 straight years of year-over-year growth.
Across the available history, dividends paid reached its high of $1.45B in 2025 and its low of $2.00M in 1990.
Among 8 Industrials peers, Paychex (PAYX) ranks 8th; the peer median for dividends paid is $2.23B.
Paychex Dividends Paid 2025: $1.45B
Paychex dividends paid in 2025 was $1.45B, grew 10.1% from 2024. This figure represents the highest annual value in the available history.
Paychex Dividends Paid 2024: $1.32B
Paychex dividends paid in 2024 was $1.32B, grew 11.9% from 2023.
Paychex Dividends Paid 2023: $1.18B
Paychex dividends paid in 2023 was $1.18B, grew 17.5% from 2022.
Paychex Dividends Paid 2022: $999.60M
Paychex dividends paid in 2022 was $999.60M, grew 10.0% from 2021.
Paychex Dividends Paid 2021: $908.70M
Paychex dividends paid in 2021 was $908.70M.
See more financial history for Paychex (PAYX).
Sector peers by dividends paid
Companies in the same sector as Paychex, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| RTX (RTX) | $3.57B | Industrials |
| Union Pacific (UNP) | $3.24B | Industrials |
| Honeywell International (HON) | $2.98B | Industrials |
| Caterpillar (CAT) | $2.75B | Industrials |
| Deere & Company (DE) | $1.72B | Industrials |
| Eaton Corporation (ETN) | $1.63B | Industrials |
| GE Aerospace (GE) | $1.45B | Industrials |
| Boeing (BA) | $0 | Industrials |
Frequently asked questions
Does Paychex pay dividends?
Yes, Paychex (PAYX) pays quarterly dividends of approximately $4.43 per share annually, yielding 4.67%.
What is Paychex's dividend yield?
Paychex (PAYX) has a current dividend yield of 4.67%.
Is Paychex's dividend safe?
Paychex (PAYX) passes 5 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Paychex increased its dividend?
Paychex (PAYX) has 13 consecutive years of dividend increases.
What is Paychex's dividend payout ratio?
Paychex (PAYX) has a dividend payout ratio of 97.8%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Paychex's dividends paid?
Latest reported dividends paid for Paychex (PAYX) is $1.55B (period ending February 28, 2026).
How has Paychex dividends paid changed year-over-year?
Paychex (PAYX) dividends paid changed +10.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Paychex dividends paid?
Paychex (PAYX) dividends paid compound annual growth rate is +10.2% over the most recent 5 years available.
When did Paychex dividends paid hit its highest annual value?
Paychex dividends paid reached its highest annual value of $1.45B in 2025.
What was Paychex dividends paid in 2024?
Paychex (PAYX) dividends paid in 2024 was $1.32B.
What was Paychex dividends paid in 2025?
Paychex (PAYX) dividends paid in 2025 was $1.45B.
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