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

Pitney Bowes Inc. (NYSE:PBI) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Friday, February 21st will be given 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 is Friday, February 21st. This is an increase 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 research 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 Price Performance

Pitney Bowes stock traded up $0.78 during trading hours on Thursday, hitting $10.54. The company had a trading volume of 8,017,592 shares, compared to its average volume of 2,503,413. The firm has a 50-day moving average of $7.83 and a 200 day moving average of $7.36. The firm has a market cap of $1.91 billion, a PE ratio of -4.83, a PEG ratio of 0.52 and a beta of 2.01. Pitney Bowes has a one year low of $3.73 and a one year high of $10.81.

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, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. As a group, research analysts expect that Pitney Bowes will post 0.4 earnings per share for the current year.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares of the company’s stock, valued at $151,551.68. The trade was a 69.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the sale, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.30% of the company’s stock.

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.