Welcome to our dedicated page for Pitney Bowes news (Ticker: PBI), a resource for investors and traders seeking the latest updates and insights on Pitney Bowes stock.
Pitney Bowes Inc. reports developments in digital shipping solutions, mailing innovation, financial services, and postal processing services. Company updates commonly cover SendTech and Presort activity, SendPro platform capabilities, results releases, guidance, cost management, and capital allocation actions such as share repurchases, debt reduction, and note tender offers.
News also includes security and compliance milestones for cloud-based shipping and mailing tools, including SendPro 360 authorization for U.S. defense use, as well as leadership changes tied to The Pitney Bowes Bank, SendTech, Presort, and corporate finance.
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Pitney Bowes (NYSE: PBI) has appointed Tom Doherty as Vice President of Lending Services and Products, a move aimed at enhancing its financial services for small and mid-sized businesses. Doherty, previously with CIBC Bank USA, will lead the lending segment, which includes mail lending and logistics financing. His appointment comes as the company seeks to deepen its commitment to small businesses by developing new markets and products. This strategic role is seen as critical for driving long-term growth.
Pitney Bowes (NYSE: PBI) released its Parcel Shipping Index showing a 27% increase in global parcel volume to 131.2 billion in 2020, averaging 4160 parcels shipped per second. The Index indicates that parcel volume is expected to double by 2026, reaching 266 billion with an 11% CAGR from 2021-2026. Notably, China is projected to hit 100 billion parcels in a single year by 2021. Additionally, global parcel revenue reached $429.5 billion, up 22% year-over-year, highlighting significant growth across major markets.
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Pitney Bowes Inc. (NYSE:PBI) announced a significant increase in US parcel volume, reaching 20 billion parcels in 2020, a 37 percent growth from 2019. The report indicates that US parcel volume doubled from 10 billion to 20 billion between 2015 and 2020. The Pitney Bowes Parcel Shipping Index forecasts that US parcel volume will nearly double by 2026, reaching 32-39 billion parcels. Carrier revenue also saw a rise, totaling $171 billion in 2020. Notably, Amazon Logistics achieved a 109 percent revenue increase, significantly enhancing its market presence.
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Pitney Bowes (NYSE:PBI) has appointed Ned Zachar as Vice President of Investor Relations, succeeding Adam David, who transitions to lead Financial Planning and Analysis. Zachar, previously a Partner at KLS Diversified, brings extensive experience in investment management and corporate finance. His role will focus on enhancing investor communication and strategy. David will expand his responsibilities within the Finance team, now overseeing the Financial Systems team as well.
Pitney Bowes Inc. (NYSE:PBI) announced pricing adjustments for its domestic and cross-border delivery services effective October 3rd. The changes aim to assist clients in anticipating peak shipping costs amid rising transportation, labor, and COVID-19-related expenses. Key actions include volume caps for shipments, additional fees for oversized packages, and a December 12 induction cut-off for Standard Delivery. The company has ceased onboarding new Standard Delivery clients in Q3 to ensure capacity for existing ones, while investing in workforce and technological enhancements for better service.
Pitney Bowes (NYSE:PBI) has announced the redemption of all outstanding 3.875 percent Notes due 2022, effective September 19, 2021. The redemption price will include the principal amount, accrued interest, and any applicable make-whole amount. Following the redemption date, interest will cease to accrue. The Bank of New York Mellon will notify all registered holders of the Notes regarding this redemption.
This move reflects the company's strategy to manage its debts effectively.
Pitney Bowes (NYSE:PBI) has declared a quarterly cash dividend of $0.05 per share, payable on September 8, 2021, to stockholders on record as of August 20, 2021. This dividend emphasizes the company's ongoing commitment to returning value to shareholders. As a global technology firm, Pitney Bowes provides essential ecommerce, shipping, and financial services, serving a diverse clientele, including 90% of the Fortune 500. The company has been innovating for over a century, optimizing transaction accuracy and efficiency.