Paychex celebrates big gains at shareholders meeting

Updated: October 17, 2019 06:47 PM
Created: October 17, 2019 05:04 PM

ROCHESTER, N.Y. (WHEC) --- Paychex celebrated big gains Thursday at its annual shareholders meeting at The Strong.

The company more than doubled its revenue in less than 10 years, according to Martin Mucci, Paychex President and Chief Executive Officer.


Mucci cited Paychex's expansion into the fields of insurance and retirement services.

"Less than 50% of the revenue is payroll services which we think positions us very well from a recessionary standpoint if we hit that," Mucci said. "But just also from a marketing standpoint, we're being viewed more now as an HR company."

Also on Thursday, The Paychex Board of Directors announced a quarterly dividend of 62 cents per share.

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