Automatic Data Processing

Automatic Data Processing is a leading provider of payroll, human resources and workforce management services, handling the pay and administration of a large share of American employees. Its scale, high customer retention and the recurring nature of payroll processing give it exceptionally stable, predictable cash flows and a resilient position in an essential business function. ADP has raised its dividend for well over three decades, a hallmark of consistency backed by dependable, recurring revenue. The yield is moderate and the growth of the payout has been steady and reliable through economic cycles. This combination of a long, unbroken record of increases and a defensive service model makes ADP a classic choice for investors seeking dependable, growing income.