Pitney Bowes Inc. (NYSE:PBI) announced a quarterly dividend on Tuesday, August 6th, RTT News reports. Investors of record on Friday, August 23rd will be paid a dividend of 0.05 per share by the technology company on Wednesday, September 11th. This represents a $0.20 dividend on an annualized basis and a yield of 4.81%.
Pitney Bowes has raised its dividend by an average of 10.1% annually over the last three years. Pitney Bowes has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pitney Bowes to earn $0.90 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 22.2%.
Shares of PBI stock opened at $4.16 on Wednesday. The company has a market cap of $670.49 million, a price-to-earnings ratio of 3.59 and a beta of 1.92. Pitney Bowes has a twelve month low of $3.29 and a twelve month high of $8.56. The company has a debt-to-equity ratio of 35.45, a current ratio of 1.25 and a quick ratio of 1.22. The stock’s fifty day moving average price is $4.08.
In other Pitney Bowes news, Director Robert M. Dutkowsky acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $5.22 per share, for a total transaction of $52,200.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $52,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.20% of the company’s stock.
Several brokerages have commented on PBI. ValuEngine raised Pitney Bowes from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Maxim Group set a $9.00 price objective on Pitney Bowes and gave the company a “buy” rating in a research note on Friday, May 31st.
Pitney Bowes Company Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
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