Pitney Bowes Inc. (NYSE:PBI) Raises Dividend to $0.06 Per Share

Pitney Bowes Inc. (NYSE:PBI) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Friday, February 21st will be paid a dividend of 0.06 per share by the technology company on Monday, March 24th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05.

Pitney Bowes has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pitney Bowes to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 17.9%.

Pitney Bowes Stock Up 7.9 %

Shares of NYSE PBI traded up $0.78 on Thursday, reaching $10.54. 8,016,581 shares of the company’s stock traded hands, compared to its average volume of 2,503,005. Pitney Bowes has a 12 month low of $3.73 and a 12 month high of $10.81. The business’s 50 day simple moving average is $7.83 and its two-hundred day simple moving average is $7.36. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -4.83, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Analysts forecast that Pitney Bowes will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Pitney Bowes

In related news, Director Paul J. Evans bought 29,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the acquisition, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. 14.30% of the stock is owned by insiders.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.