Pitney Bowes (PBI) Declares $0.05 Dividend

Pitney Bowes said on February 6, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of February 16, 2023 will receive the payment on March 14, 2023. Previously, the company paid $0.05 per share.

At the current share price of $4.39 / share, the stock's dividend yield is 4.56%. Looking back five years and taking a sample every week, the average dividend yield has been 5.32%, the lowest has been 1.85%, and the highest has been 13.25%. The standard deviation of yields is 2.62 (n=237).

The current dividend yield is 0.29 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.94. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Analyst Price Forecast Suggests 10.36% Upside

As of February 8, 2023, the average one-year price target for Pitney Bowes is $4.84. The forecasts range from a low of $3.54 to a high of $6.30. The average price target represents an increase of 10.36% from its latest reported closing price of $4.39.

The projected annual revenue for Pitney Bowes is $3,638MM, an increase of 2.83%. The projected annual EPS is $0.31, an increase of 49.10%.

Fund Sentiment

There are 496 funds or institutions reporting positions in Pitney Bowes. This is a decrease of 16 owner(s) or 3.12%.

Average portfolio weight of all funds dedicated to US:PBI is 0.0607%, a decrease of 16.3073%. Total shares owned by institutions decreased in the last three months by 5.06% to 123,819K shares.

What are large shareholders doing?

IJR - iShares Core S&P Small-Cap ETF holds 7,894,604 shares representing 4.54% ownership of the company. No change in the last quarter.

Goldman Sachs Group holds 5,111,333 shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 5,986,689 shares, representing a decrease of 17.13%. The firm decreased its portfolio allocation in PBI by 43.78% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,751,486 shares representing 2.73% ownership of the company. In it's prior filing, the firm reported owning 4,633,489 shares, representing an increase of 2.48%. The firm decreased its portfolio allocation in PBI by 31.20% over the last quarter.

D. E. Shaw & holds 4,326,555 shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 3,354,787 shares, representing an increase of 22.46%. The firm decreased its portfolio allocation in PBI by 15.43% over the last quarter.

Charles Schwab Investment Management holds 4,096,587 shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 3,587,519 shares, representing an increase of 12.43%. The firm decreased its portfolio allocation in PBI by 24.35% over the last quarter.

Pitney Bowes Background Information
(This description is provided by the company.)

Pitney Bowes is a global technology company providing commerce solutions that power billions of transactions. Clients around the world, including 90 percent of the Fortune 500, rely on the accuracy and precision delivered by Pitney Bowes solutions, analytics, and APIs in the areas of ecommerce fulfillment, shipping and returns; cross-border ecommerce; office mailing and shipping; presort services; and financing. For 100 years Pitney Bowes has been innovating and delivering technologies that remove the complexity of getting commerce transactions precisely right.

This story originally appeared on Fintel.