11 April 2007

ADP: An Aristrocrat?

Jim Cramer, on Mad Money, discussed the S&P 500 Dividend Aristocrats that have steadily increased their payouts. He deemed Automatic Data Processing (ADP) the Top Aristocrat Pick for a number of reasons, including the spin-off of Broadridge (BR), which we have mentioned previously.

We're shelving our previous evaluation of ADP until we can examine the pro-forma financial statements the company made available in conjunction with the spin-off. We want to see whether there is a reasonably complete a financial history for ADP that is representative of the current organization. Since our methodology includes an analysis of financial trends, we can't rely on its results unless there is a valid financial record.

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