Pitney Bowes Inc. (NYSE:PBI – Get Free Report) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Monday, November 18th will be paid a dividend of 0.05 per share by the technology company on Friday, December 6th. This represents a $0.20 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Monday, November 18th.
Pitney Bowes has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pitney Bowes to earn $0.98 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 20.4%.
Pitney Bowes Price Performance
PBI stock traded down $0.48 during trading on Friday, reaching $7.58. 4,480,695 shares of the company traded hands, compared to its average volume of 1,531,733. Pitney Bowes has a 12 month low of $3.68 and a 12 month high of $8.80. The business has a 50 day simple moving average of $7.02 and a 200 day simple moving average of $6.21.
Analyst Ratings Changes
Separately, StockNews.com downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.
About Pitney Bowes
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.
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