Image Source: PixabayOn 6 November, Automatic Data Processing (ADP) increased its quarterly dividend by 10%, from $1.40 to $1.54 per share.The dividend will be paid on 1 January 2025 to shareholders of record on 13 December 2024. The ex-dividend date is 13 December 2024.ADP’s contribution to DivGro’s projected annual dividend income will increase by $56 to $616.I own 100 shares of ADP at an average cost basis of $154.10 per share. Following this increase, my yield on cost is 4.00%. (ADP’s forward yield is 2.02% at $304.85 per share). Since I opened my ADP position in February 2020, the stock has produced total returns of 111%, including $1,966.30 in dividend income. That’s an outstanding annualized rate of return of 18.8%!ADP just became DivGro’s 53rd Home Run stock when it doubled my original capital outlay. 5-Year History of Dividend Payouts by Ex-Date
✝projected, assuming no further changesMore By This Author:AbbVie Dividend IncreaseVisa Inc. Dividend IncreaseBrown & Brown Dividend Increase
