Pitney Bowes Inc. (NYSE:PBI) Plans Dividend Increase – $0.06 Per Share

Pitney Bowes Inc. (NYSE:PBI) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05.

Pitney Bowes has a 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 Stock Performance

Shares of PBI stock opened at $10.54 on Friday. Pitney Bowes has a 52-week low of $3.73 and a 52-week high of $10.81. The stock’s 50-day moving average price is $7.83 and its 200 day moving average price is $7.36.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Pitney Bowes will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other news, Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the purchase, the director now directly owns 29,000 shares of the company’s stock, valued at $226,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the business’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 value of $315,700.00. Following the sale, the executive vice president now directly owns 124,124 shares in the company, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. 14.30% of the stock is currently 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.