ADP Automatic Data Processing Inc

Automatic Data Processing Inc.'s (ADP) board raised the payroll-processing and human-resources outsourcing company's dividend for the 36th straight year, coming as many corporations are boosting payouts to shareholders this year as the perceived need to conserve cash abates.

The company's quarterly dividend will increase by 2 cents to 36 cents a share, at an added expense of about $10 million a quarter.

ADP last month reported that its fiscal first-quarter earnings fell 2% on higher expenses owing to recent headcount additions and acquisition activity. However, the results beat analysts' expectations as revenue and the number of workers on clients' payrolls grew, while ADP also raised its guidance for the year.

Shares were up 8 cents at $45.55 in recent trading. The stock is up about 6% the past year.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;