Pitney Bowes Inc. (NYSE:PBI) Declares Quarterly Dividend of $0.05

Pitney Bowes Inc. (NYSE:PBI) 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.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $793.17 million during the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. Research analysts predict that Pitney Bowes will post 0.35 earnings per share for the current fiscal year.

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.