Paycom Software, Inc. (NYSE: PAYC) has declared a cash dividend of $0.375 per share of common stock to be paid on March 24, 2025. This dividend will be distributed to all stockholders of record as of the close of business on March 10, 2025.
In terms of financial performance, Paycom reported a revenue of $381.3 million for the fourth quarter of 2024, marking a 29% increase from the same period in the previous year. Additionally, the company's total revenues for the full year of 2024 amounted to $1.34 billion, reflecting a 25% increase from 2023.
The company's net income for the fourth quarter of 2024 was $78.5 million, representing a significant rise compared to the $58.7 million reported in the fourth quarter of 2023. For the entire year of 2024, Paycom's net income reached $252.6 million, indicating a 37% increase from the previous year.
Paycom's adjusted EBITDA for the fourth quarter of 2024 was $138.2 million, up 32% from the same period in 2023. The company's adjusted EBITDA for the full year of 2024 totaled $468.7 million, reflecting a 27% increase from 2023.
Furthermore, the company's diluted earnings per share for the fourth quarter of 2024 were $1.29, a notable surge from the $0.93 reported in the fourth quarter of 2023. For the entire year of 2024, Paycom's diluted earnings per share amounted to $4.10, marking a 39% increase from the previous year.
Paycom's strong financial performance is underpinned by its continued commitment to delivering comprehensive, cloud-based human capital management software. With a focus on simplifying business processes and empowering employees through user-friendly HR and payroll technology, the company has achieved significant growth and success in serving businesses of all sizes in the U.S. and internationally. The market has reacted to these announcements by moving the company's shares -0.1% to a price of $204.56. For the full picture, make sure to review Paycom Software's 8-K report.
