ROSELAND, N.J., June 10, 2011 (GLOBE NEWSWIRE) -- The board of directors of Automatic Data Processing, Inc., (Nasdaq:ADP) authorized the purchase of an additional 35 million shares of its common stock, Gary C. Butler, chief executive officer, announced today.
This is in addition to the approximately 15.4 million shares remaining to be purchased under previous share repurchase authorizations resulting in a total authorization of approximately 50.4 million shares. ADP currently has approximately 493 million common shares outstanding.
Automatic Data Processing, Inc. (Nasdaq:ADP), with nearly $9 billion in revenues and about 550,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use, cost-effective solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com.