Company: PAYC
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-024136
Chunk: 73

Company: Paycom Software, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1B
Chunk 73
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 are held in “street name” by brokers and other nominees. 

Dividends

In May 2023, our Board of Directors adopted a dividend policy under which we intend to continue to pay quarterly cash dividends on our common stock.

The following table summarizes quarterly dividends paid during 2024.

    Declaration Date
     
    Record Date
     
    Payment Date
     
    Per Share Dividend

    Total Cash Dividends Paid (in millions)(1)

    October 28, 2024
     
    November 25, 2024
     
    December 9, 2024
     
    $
    0.375

    $
    21.0

    July 29, 2024
     
    August 26, 2024
     
    September 9, 2024
     
    $
    0.375

    $
    21.0

    April 29, 2024
     
    May 28, 2024
     
    June 10, 2024
     
    $
    0.375

    $
    21.2

    February 5, 2024
     
    March 4, 2024
     
    March 18, 2024
     
    $
    0.375

    $
    21.2

(1)All unvested equity incentive awards currently outstanding are entitled to receive dividends or dividend equivalents, provided that such dividends or dividend equivalents are withheld by the Company and distributed to the applicable holder upon vesting of the award. Dividends declared, as reported in the consolidated statements of stockholders’ equity, includes dividends and dividend equivalents payable to holders of unvested equity incentive awards and, as a result, exceeds the amount of total cash dividends paid presented in this column.

On February 10, 2025, our Board of Directors declared a quarterly cash dividend of $0.375 per share of common stock payable on March 24, 2025 to stockholders of record at the close of business on March 10, 2025.

The declaration, timing and amount of each quarterly cash dividend are subject to the approval of the Board of Directors, including a determination that the dividend policy and the declaration of dividends thereunder are in the best interests of our stockholders and are in compliance with applicable law. The Board of Directors retains the power to modify, suspend, or