"We understand the importance of the dividend to our shareholders and are pleased to once again increase the annual dividend," said CEO Bill DeLaney. "Fiscal year 2011 will be the 42nd year in a row that we have paid a dividend to our shareholders - a testament to Sysco's consistently strong balance sheet and cash flow throughout the years."
9. AmerisourceBergen boosted its quarterly dividend by 25 per cent to 10 cents per share.
The distributor of pharmaceutical products and related health care services will pay the higher dividend on Dec. 6 to holders of record on Nov. 22, bringing its new yield to 1.3 per cent.
AmerisourceBergen was formed through the 2001 merger of Amerisource Health and Bergen Brunswig.
On Thursday the Chesterbrook, Penn.-based company tapped Steve Collis to serve as its new president and chief operating officer. Collis previously was executive VP of AmerisourceBergen and president of AmerisourceBergen Drug, a subsidiary. AmerisourceBergen recently posted a 115.1 per cent increase in quarterly revenue to $49.9-million. Quarterly profit jumped 103.9 per cent to $1.7-million. As of September 30, the company had $7.3-million in cash and $52.5-million in government and bank debt.
10. Automatic Data Processing's board approved a 5.9 per cent increase to its quarterly cash dividend. The private payrolls firm will pay investors 36 cents per share, to be paid next on Jan. 1 to holders of record on Dec. 10. The increased dividend brings ADP's yield to 3.2 per cent.
On Wednesday ADP announced it had completed the acquisition of Byte Software House, an Italy-based provider of integrated payroll, personnel administration, time management and human resources products and services.
In October ADP updated its fiscal 2011 guidance, saying it now expects total revenues to grow between 3 per cent and 5 per cent revenue growth, up from its prior forecast of 1 per cent to 3 per cent growth, due to positive results achieved during the first fiscal quarter of 2011. Including acquisitions closed during the quarter, it anticipates 7 per cent to 8 per cent revenue growth.
ADP now expects to post earnings per share growth between 3 per cent and 5 per cent in fiscal 2011, or between $2.44 and $2.49 per share, up from its prior forecast for EPS growth in the 1 per cent to 3 per cent range.