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

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) declared 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 payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. 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 $0.24 annual dividend with an expected future payout ratio of 21.4%.

Pitney Bowes Stock Performance

Shares of PBI stock traded up $0.04 on Monday, reaching $10.55. The stock had a trading volume of 3,871,854 shares, compared to its average volume of 1,900,217. The stock has a market cap of $1.92 billion, a P/E ratio of -4.84, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01. Pitney Bowes has a 1 year low of $3.73 and a 1 year high of $10.81. The company has a 50 day simple moving average of $8.00 and a 200 day simple moving average of $7.45.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Pitney Bowes will post 0.4 earnings per share for the current fiscal year.

Insider Transactions at Pitney Bowes

In related news, Director Paul J. Evans bought 29,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kurt James Wolf sold 78,285 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.66, for a total value of $834,518.10. Following the completion of the transaction, the director now directly owns 606,289 shares in the company, valued at approximately $6,463,040.74. This represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,405,593 shares of company stock worth $13,568,759 in the last ninety days. 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.