Pitney Bowes Inc. (NYSE:PBI) to Issue Quarterly Dividend of $0.06

Pitney Bowes Inc. (NYSE:PBI) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Investors 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% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 7.9 %

Shares of PBI traded up $0.78 during trading hours on Thursday, reaching $10.54. 8,016,581 shares of the stock traded hands, compared to its average volume of 2,503,005. Pitney Bowes has a 52-week low of $3.73 and a 52-week high of $10.81. The company’s 50-day moving average price is $7.83 and its two-hundred day moving average price is $7.36. The company has a market cap of $1.91 billion, a P/E ratio of -4.83, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last released 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%. On average, research analysts forecast that Pitney Bowes will post 0.4 EPS for the current year.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, January 27th. The shares were 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. The trade was a 22.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the sale, the executive vice president now owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is currently owned by insiders.

About Pitney Bowes

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.