8 November 2023 I Roseland, NJ

The board of directors of ADP (Nasdaq: ADP) has declared a regular quarterly dividend of $1.40 per common share, an increase of approximately 12% from the previous quarterly dividend of $1.25.

For calendar year 2024, this marks the first dividend increase for the Washington Crossing Advisors Rising Dividend portfolio.

Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had no change in dividend.

From the press release: “The board of directors of ADP (Nasdaq: ADP) approved a $0.15 increase in the quarterly cash dividend to an annual rate of $5.60 per share, Maria Black, ADP’s chief executive officer, announced today. The increased cash dividend marks the 49^th consecutive year in which ADP, a leading global technology company providing human capital management (HCM) solutions, has raised its quarterly dividend. The new quarterly dividend rate of $1.40 per share will be distributed on January 1, 2024 to shareholders of record on December 8, 2023.” ¹

About the company: “Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com.” ¹

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IMPORTANT DISCLOSURES: The securities discussed herein do not represent all of the securities held by the WCA Rising Dividend Portfolio as of the date presented and are subject to change at any time, without notice. A complete list of holdings as of the date noted above will be provided upon request. The above is presented to illustrate the application of the strategy only and not intended as personalized recommendations of any particular security. The securities identified and described above do not represent all of the securities purchased, sold, or recommended for client accounts. You should not assume that an investment in any of the securities identified was or will be profitable. Changes in market conditions or a company’s financial condition may impact the company’s ability to continue to pay dividends. Companies may also choose to discontinue dividend payments. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. It is important to review your investment objectives, risk tolerance and liquidity needs before choosing an investment style or manager. Equity investments are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors to varying degrees. Fixed Income investments are subject to market, market liquidity, issuer, investment style, interest rate, credit quality, and call risks, among other factors to varying degrees.