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Technology Stocks : Paychex (PAYX) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Kline who wrote (110)	10/1/1998 9:58:00 AM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 210

Just a little word on insider trades. ron. concur 100%. 200% on insider buys. fwiw, veep russo's selling looks like a pre-retirement gift to himself. -chris. ----- Paychex Announces 50% Increase in Quarterly Dividend October 1, 1998 08:27 AM ROCHESTER, N.Y., Oct. 1 /PRNewswire/ -- The Board of Directors of Paychex, Inc. (PAYX) has declared a 50% increase in the company's quarterly dividend from $.06 per share to $.09 per share payable November 16, 1998 to shareholders of record November 2, 1998. Tom Golisano, Chairman and Chief Executive Officer, commented "that the dividend increase is a result of continued earnings gains, confidence in the future and our strong cash position." The Company also announced the retirement of Edmund S. Russo, Vice President, Operations, effective January 31, 1999. Mr. Russo joined Paychex on January 19, 1987, having been a vice president with Bank of America. He served as Regional Manager and Vice President, Western Operations until September 6, 1994, when he was named to his current position. He was voted an officer of the Company at the same time. During June of 1998, in anticipation of Ed Russo's retirement and in recognition of the growth of Branch Operations, Paychex created two Area Vice President positions. Donald Mersch Area Vice President -- Western Operations and Vincent Tarquin Area Vice President -- Eastern Operations. Mr. Tarquin will also oversee Corporate Operations functions. In combination, Messers Mersch and Tarquin have over 25 years experience with Paychex, having risen through the ranks from Branch Manager to their current positions. The Area Vice Presidents will report directly to the CEO.