Paychex Inc (NASDAQ:PAYX) reported better-than-expected earnings for its first quarter of FY24, with sales growth of 7% YoY to $1.286 billion, slightly missing the analyst consensus estimate of $1.29 billion. The company revised its FY24 adjusted EPS growth outlook from 9%-10% to 9%-11%. Paychex offers an annual dividend yield of 2.88%, which is a quarterly dividend amount of $0.89 a share ($3.36 a year). To earn $500 per month or $6,000 annually from dividends alone, an investment of approximately $208,087 or around 1,786 shares would be needed.