Pitney Bowes Inc. (NYSE:PBI) Plans Dividend Increase – $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 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 is Friday, February 21st. This is a boost 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. 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 %

NYSE PBI traded up $0.78 during trading on Thursday, reaching $10.54. 8,017,592 shares of the stock traded hands, compared to its average volume of 2,503,413. Pitney Bowes has a fifty-two week low of $3.73 and a fifty-two week high of $10.81. The firm 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. 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 announced 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 net margin of 13.02% and a negative return on equity of 12.85%. Analysts anticipate that Pitney Bowes will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the transaction, the director now owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction on Friday, November 29th. The stock was 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 directly owns 18,664 shares in the company, valued at approximately $151,551.68. This represents a 69.39 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.