SmarterDividends
PAYX

Paychex, Inc.

PAYX

Technology · Software - Application · Stock · quarterly payer

$118.04

Fairly valued · -0% Add to Portfolio

Forward Yield

4.03%

Annual Dividend

$4.76

Payout Ratio

90%

5-Yr Growth

11.2%

Ex-Date

Oct 26, 2026

Frequency

Quarterly

Key facts about PAYX's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 24, 2026, Paychex, Inc. (PAYX) has a forward dividend yield of 4.03%, based on an annual dividend of $4.76 per share and a share price of $118.04.
  • As of Oct 24, 2026, PAYX's dividend safety grade from SmarterDividends is A (81 out of 100), which rates the dividend as very safe.
  • By SmarterDividends' count, Paychex, Inc. (PAYX) has raised its dividend for 15 consecutive years as of Oct 24, 2026.
  • PAYX has never cut its regular dividend in the payment history SmarterDividends has on record.
  • PAYX's next ex-dividend date is Oct 26, 2026, with payment on Nov 25, 2026. Shares must be owned before that date to receive the dividend.
  • As of Oct 24, 2026, PAYX pays out 90% of its trailing 12-month earnings as dividends (its payout ratio).
  • PAYX's dividend has grown at an average rate of 11.2% a year over the past five years.
  • As of Oct 24, 2026, PAYX's 4.03% yield is 45% above its five-year average yield of 2.79%.
  • As of Oct 24, 2026, SmarterDividends' blended fair-value estimate for PAYX is $117.51 per share, 0% below the $118.04 share price, so PAYX screens as fairly valued.
  • Paychex, Inc. (PAYX) pays its dividend quarterly, 4 times a year.
  • Paychex, Inc. (PAYX) has raised its regular dividend 34 times and cut it 0 times across the 151 payments on record since 1988. Its most recent change was a 10.2% increase to $1.19 per share, going ex-dividend on May 13, 2026.
  • Paychex (PAYX) has declared its first higher dividend of the year in April in 3 of the last 5 years; its most recent raise, 10.2%, was declared on May 1, 2026.
Cite this page

SmarterDividends, "PAYX Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 24, 2026, https://smarterdividends.com/stocks/PAYX

Summary

As of Oct 24, 2026, Paychex, Inc. (PAYX) yields 4.03% ($4.76 a year per share), has a dividend safety grade of A (81/100) and has 15 consecutive years of dividend increases on record.

Is PAYX a good dividend stock?

Yes

Paychex, Inc. (PAYX) pays a quarterly dividend yielding 4.03% ($4.76/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Advantages

  • 15 consecutive years of dividend growth
  • Never cut its dividend on record
  • Strong 11.2% 5-yr dividend growth
  • Top-tier dividend safety score

Risks

  • Elevated payout ratio (90%)
  • Share price is down over the past 5 years

Key Data

Dividend Yield
4.03%
Payout Ratio
90%
Annual Dividend
$4.76
5-Yr Avg Growth
11.2%
Ex-Dividend Date
Oct 26, 2026
Years of Growth
15
Frequency
quarterly
Beta
0.85
Market Cap
$42.0B
P/E Ratio
23.4
5-Yr Total Return
-1%
52-Week Range
$85.45 – $127.98
Dividend Safety
A · 81/100
Ever Cut?
No

PAYX dividend raises and cuts

Paychex, Inc. (PAYX) has raised its regular dividend 34 times and cut it 0 times across the 151 payments on record since 1988. Its most recent change was a 10.2% increase to $1.19 per share, going ex-dividend on May 13, 2026.

Ex-dateChangeOld → newMove
May 13, 2026Raise$1.08 → $1.19+10.2%
May 12, 2025Raise$0.980 → $1.08+10.2%
May 9, 2024Raise$0.890 → $0.980+10.1%
May 10, 2023Raise$0.790 → $0.890+12.7%
May 11, 2022Raise$0.660 → $0.790+19.7%
May 11, 2021Raise$0.620 → $0.660+6.5%
May 14, 2019Raise$0.560 → $0.620+10.7%
May 8, 2018Raise$0.500 → $0.560+12.0%
Jul 28, 2017Raise$0.460 → $0.500+8.7%
Jul 28, 2016Raise$0.420 → $0.460+9.5%
Jul 30, 2015Raise$0.380 → $0.420+10.5%
Jul 30, 2014Raise$0.350 → $0.380+8.6%
Show all 34 changes since 1989
Ex-dateChangeOld → newMove
Jul 30, 2013Raise$0.330 → $0.350+6.1%
Oct 31, 2012Raise$0.320 → $0.330+3.1%
Oct 28, 2011Raise$0.310 → $0.320+3.2%
Jul 30, 2008Raise$0.300 → $0.310+3.3%
Jul 30, 2007Raise$0.210 → $0.300+42.9%
Oct 30, 2006Raise$0.160 → $0.210+31.2%
Oct 28, 2005Raise$0.130 → $0.160+23.1%
Oct 28, 2004Raise$0.120 → $0.130+8.3%
Oct 30, 2003Raise$0.110 → $0.120+9.1%
Oct 30, 2001Raise$0.0900 → $0.110+22.2%
Oct 30, 2000Raise$0.0600 → $0.0900+50.0%
Oct 28, 1999Raise$0.0400 → $0.0600+50.0%
Oct 29, 1998Raise$0.0267 → $0.0400+50.0%
Oct 23, 1997Raise$0.0178 → $0.0267+50.0%
Oct 24, 1996Raise$0.0119 → $0.0178+50.0%
Oct 25, 1995Raise$0.0079 → $0.0119+50.0%
Oct 24, 1994Raise$0.0053 → $0.0079+50.0%
Oct 22, 1993Raise$0.0035 → $0.0053+50.0%
Oct 19, 1992Raise$0.0023 → $0.0035+50.0%
Oct 21, 1991Raise$0.0020 → $0.0023+20.0%
Oct 22, 1990Raise$0.0016 → $0.0020+25.0%
Oct 23, 1989Raise$0.0012 → $0.0016+33.3%
Every PAYX payment →Download every raise and cut (CSV)
PAYX ex-dividend date & scheduleNext ex-date Oct 26, 2026 · full ex-dividend historyView →PAYX dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is PAYX a good dividend stock?

Yes. Paychex, Inc. (PAYX) pays a quarterly dividend yielding 4.03% ($4.76/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Is PAYX undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PAYX's fair value is about $117.51 versus a $118.04 share price — so it looks fairly valued (-0% vs. fair value).

Is PAYX's dividend safe?

PAYX has a dividend-safety grade of A (81/100), based on its payout coverage, free-cash-flow, 15-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is PAYX's fair value?

Our blended fair-value estimate for PAYX is about $117.51 per share, about 0% below the current $118.04 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is PAYX a buy, hold, or sell?

We don't issue formal ratings, but on the data PAYX screens as "yes" and fairly valued. Paychex, Inc. (PAYX) pays a quarterly dividend yielding 4.03% ($4.76/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.

Will PAYX cut its dividend?

PAYX earns a dividend-safety grade of A (81/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does PAYX pay a dividend?

Yes. Paychex, Inc. pays a quarterly dividend of about $4.76 per share annually, a forward yield of roughly 4.03%.

What is PAYX's dividend yield?

As of Oct 24, 2026, PAYX's forward dividend yield is 4.03%, based on a $4.76 annual dividend and a $118.04 share price.

What is PAYX's dividend per share?

As of Oct 24, 2026, PAYX pays $4.76 per share per year, distributed on a quarterly basis.

What is PAYX's dividend payout ratio?

As of Oct 24, 2026, PAYX's payout ratio is 90% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has PAYX grown its dividend?

As of Oct 24, 2026, PAYX has increased its dividend for 15 consecutive years.

When is the next PAYX ex-dividend date?

As of Oct 24, 2026, the next ex-dividend date on record for PAYX is Oct 26, 2026.

PAYX Dividend News

PAYX
IncreasePAYX·Jun 9, 2026

Paychex Raises Quarterly Dividend 10.2% to $1.19

Paychex lifted its quarterly dividend 10.2% to $1.19, extending 37 years of growth while a 90% earnings payout leaves a narrow coverage cushion.

Income Calculator

At $4.76 / yr per share

Per payment (quarterly)$119.00
Annual$476.00
Monthly avg$39.67

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