STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 9, 2016--
Pitney Bowes Inc. (NYSE:PBI), a global technology company that provides
innovative products and solutions that power commerce, today announced
that its Board of Directors declared a quarterly cash dividend on the
company’s common stock of $0.1875 per share. The dividend will be paid
on March 12, 2016, to stockholders of record on February 19, 2016. In
addition to its dividend on common shares, a quarterly cash dividend of
$0.53 per share on the company’s $2.12 convertible preference stock will
be paid on April 1, 2016, to stockholders of record on March 15, 2016,
and a quarterly cash dividend of $0.50 per share on the company’s 4
percent convertible cumulative preferred stock will be paid on May 1,
2016, to stockholders of record on April 15, 2016.
Further, the Board of Directors increased the Company’s authorization to
repurchase an additional $150 million of Pitney Bowes’ outstanding
common stock, which it expects to complete in 2016. This is in addition
to the $65 million of authorization available at the beginning of the
year, of which the company has repurchased $54 million through February
8, 2016. Taken together, the Company expects to repurchase $215 million
of its common stock in 2016.
During the past three fiscal years, the company has returned $676
million to shareholders through a combination of dividends and share
“Our disciplined capital allocation strategy gives us the flexibility to
enhance shareholder value by returning cash to our shareholders while
continuing to invest in the long-term growth of our business,” said Marc
B. Lautenbach, President and Chief Executive Officer. "The Board’s
actions today illustrate how we are continuing to return significant
amounts of cash to shareholders through dividends and share repurchases.
We have returned this cash while also making significant progress in
transforming Pitney Bowes over the last several years, by stabilizing
our mailing businesses, enhancing operational excellence and investing
in strategic growth initiatives.”
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company offering
innovative products and solutions that enable commerce in the areas of
customer information management, location intelligence, customer
engagement, shipping and mailing, and global ecommerce. More than 1.5
million clients in approximately 100 countries around the world rely on
products, solutions and services from Pitney Bowes. For additional
information, visit Pitney Bowes at www.pb.com.
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Source: Pitney Bowes Inc.
Pitney Bowes Inc.
Bill Hughes, 203 351 6808
Charles F. McBride,
203 351 6349
VP, Investor Relations