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Pitney Bowes Declares Dividends


Nov. 20 2020, Updated 3:09 p.m. ET

Price movement

Pitney Bowes (PBI) has a market cap of $2.8 billion. It rose 0.86% to close at $15.18 per share on November 11, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 6.6%, -10.3%, and -24.1%, respectively, on the same day. PBI is trading 6.9% below its 20-day moving average, 12.0% below its 50-day moving average, and 17.1% below its 200-day moving average.

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Related ETF and peers

The ALPS Sector Dividend Dogs ETF (SDOG) invests 2.1% of its holdings in Pitney Bowes. The ETF tracks an equal-weighted index of the five highest-yielding S&P 500 securities in each sector. The YTD price movement of SDOG was 18.7% on November 11. The market caps of Pitney Bowes’s competitors are as follows:

  • Lexmark International (LXK) — $2.5 billion
  • Xerox (XRX) — $9.8 billion
  • Canon (CAJ) — $37.4 billion

Pitney Bowes declares dividends

Pitney Bowes has declared a quarterly cash dividend of $0.19 per share on its common stock. The dividend is payable on December 12, 2016, to shareholders of record on November 21, 2016.

The company has also declared a quarterly cash dividend of $0.53 per share on its $2.12 convertible preference stock. The dividend will be paid on January 1, 2017, to shareholders of record on December 15, 2016.

It declared a quarterly cash dividend of $0.50 per share on its 4% convertible cumulative preferred stock. The dividend will be paid on February 1, 2017, to shareholders of record on January 15, 2017.

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Performance of Pitney Bowes in 3Q16

Pitney Bowes reported total revenue of $839.0 million in 3Q16, a fall of 3.5% from the total revenue of $869.5 million in 3Q15. Revenue from SMB (Small and Medium Business) Solutions and Digital Commerce Solutions fell 7.0% and 0.52%, respectively, and revenue from Enterprise Business Solutions rose 0.92% between 3Q15 and 3Q16.

Its net income and EPS (earnings per share) fell to $65.5 million and $0.35, respectively, in 3Q16, compared with $89.3 million and $0.44, respectively, in 3Q15. It reported adjusted EPS of $0.44 in 3Q16, a rise of 2.3% over 3Q15.

Pitney Bowes’s cash and cash equivalents and inventories rose 52.5% and 22.5%, respectively, between 4Q15 and 3Q16. Its current ratio rose to 1.2x in 3Q16, compared with 1.0x in 4Q15.


Pitney Bowes has made the following projections for fiscal 2016 and fiscal 2H16:

  • revenue growth of -1% to -3% on a constant-currency basis.
  • adjusted EPS of $1.75–$1.82
  • free cash flow of $400 million–$450 million

For an ongoing analysis of this sector, please visit Market Realist’s Consumer Discretionary page.


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