Arsuron Papartassee

Automatic Data Processing: Better Suited to Survive This Downturn than Its Competitors

I agree with all the comments. PAYX has no debt, but my concern is the risk of dividend cut. With payout ratio sitting at 86%, PAYX has little room to fall on earning basis before depleting into their cash. But 0 debt will allow them to borrow at a lower rate so it's also a plus. Now that I see so many interest on PAYX, I will do a research on that name shortly.

The 1982 case was just an example and I don't expect the stock to mimic that. They were not paying out dividend then so I wasn't able to see their yield then.

Thanks for all the constructive comments.