When I was working in the information technology departments of three companies during my business career, if I got a 4-6% raise in pay I was delighted. Most of the time it was around 3%. Some years it was 0%, which is like a cut in buying power due to inflation. But as a dividend growth investor, I just want to sit at my desk and work on other things while stocks with growing dividends work for me.

This morning I see that ADP (Automatic Data Processing, Inc) raised the dividend by 15.2%. ADP provides cloud-based human capital management solutions worldwide as an information technology software and services company. Earnings are growing, dividends are growing, the payout ratio is very good, and I think the company has a good moat because customers don’t easily switch from one technology solution to another without high costs. So I get an automatic pay raise from Automatic Data Processing.

ADP Earnings Estimates – Source: Fidelity.com
ADP Dividend Growth chart – Source: Fidelity.com

In addition, ADP is a growth investment. My shares are worth much more than I paid for them.

Image from Fidelity’s Active Trader Pro software
ADP from Wallmine.com

Here is a link to Wallmine for ADP: https://wallmine.com/nasdaq/adp