In this article, I will tell you why I recently added Paychex (PAYX) to my dividend portfolio. This Rochester, NY-based provider of staffing and outsourcing services offers a good dividend of currently 3.4%, a solid balance sheet, a healthy payout ratio, and strong fundamental growth. I added the stock as I like the higher dividend yield caused by the stock price decline and the company's future potential. While mid-term challenges will likely continue to cause volatility and potentially further stock price declines, I have little doubt this company will be a strong long-term addition to