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

Pitney Bowes Inc. (NYSE:PBI) declared a quarterly dividend on Thursday, November 7th,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 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, November 18th.

Pitney Bowes has a payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Pitney Bowes to earn $1.05 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 19.0%.

Pitney Bowes Stock Down 0.1 %

Shares of NYSE PBI opened at $7.25 on Friday. The business’s 50 day moving average is $7.11 and its two-hundred day moving average is $6.35. Pitney Bowes has a 12 month low of $3.68 and a 12 month high of $8.80.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. The company had revenue of $499.46 million for the quarter, compared to the consensus estimate of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, equities research analysts expect that Pitney Bowes will post 0.38 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st.

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.