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

Pitney Bowes Inc. (NYSE:PBI) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders 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 of this dividend is Monday, November 18th.

Pitney Bowes has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities research 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

NYSE PBI traded down $0.47 on Friday, hitting $7.58. 4,478,431 shares of the company were exchanged, compared to its average volume of 1,744,856. The company’s 50 day moving average price is $7.02 and its 200-day moving average price is $6.21. The firm has a market capitalization of $1.36 billion, a P/E ratio of -3.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.97. Pitney Bowes has a twelve month low of $3.68 and a twelve month high of $8.80.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. The company had revenue of $793.17 million for 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. As a group, equities analysts expect that Pitney Bowes will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note 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.