Pitney Bowes Inc. (NYSE:PBI) to Issue Dividend Increase - $0.08 Per Share

Key Points

• Pitney Bowes Inc. has raised its quarterly dividend to $0.08 per share, representing a 14.3% increase from the previous dividend of $0.07.
• The company has a dividend payout ratio of 21.7%, which indicates that its dividends are well-supported by its earnings.
• Pitney Bowes saw its stock decline by 1.6% on Wednesday, trading at $11.38, with a market capitalization of $2.08 billion.

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Investors of record on Monday, August 11th will be given a dividend of 0.08 per share by the technology company on Monday, September 8th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, August 11th. This is a 14.3% increase from Pitney Bowes's previous quarterly dividend of $0.07.

Pitney Bowes has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Pitney Bowes to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 21.4%.

Pitney Bowes Price Performance

Pitney Bowes stock traded down $0.09 during midday trading on Friday, hitting $11.27. 3,924,456 shares of the company were exchanged, compared to its average volume of 3,243,312. The company's fifty day moving average price is $11.01 and its 200-day moving average price is $9.75. The company has a market cap of $2.06 billion, a PE ratio of -18.78, a price-to-earnings-growth ratio of 0.58 and a beta of 1.54. Pitney Bowes has a fifty-two week low of $5.58 and a fifty-two week high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $461.91 million for the quarter, compared to analyst estimates of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%. Pitney Bowes's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. On average, analysts expect that Pitney Bowes will post 1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PBI. Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a "hold" rating in a report on Monday, May 5th.

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.