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Pitney Bowes, Inc., $2.12 Convertible Cumul Preference Stock
Ticker Symbol: PBOWN* CUSIP: 724479308 Exchange: OTOTC
* NOTE: This security is no longer trading as of 6/18/2019
Security has been Called for: Tuesday, June 18, 2019
April 22, 2019 - Pitney Bowes Inc. today called for redemption of all of its outstanding shares of 4% Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock. The 4% Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock will be redeemed on June 18, 2019. The redemption price for the 4% Convertible Cumulative Preferred Stock will be $50 per share, plus the portion of the quarterly dividend accrued as of June 18, 2019 and any unpaid dividends. The redemption price for the $2.12 Convertible Preference Stock will be $28 per share, plus the portion of the quarterly dividend accrued as of June 18, 2019 and any unpaid dividends. Holders of the 4% Convertible Cumulative Preferred Stock have the right to convert each share of 4% Convertible Cumulative Preferred Stock into 24.24 shares of PBI common stock in lieu of the redemption prior to 5:00 PM Eastern Time on June 18, 2019. Holders of the $2.12 Convertible Preference Stock have the right to convert each share of $2.12 Convertible Preference Stock into 16.53 shares of PBI common stock in lieu of the redemption prior to 5:00 PM Eastern Time on June 17, 2019. A notice of redemption containing additional information regarding the redemption and the conversion rights will be delivered to all holders of the 4% Percent Convertible Cumulative Preferred Stock and $2.12 Convertible Preference Stock.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Pitney Bowes, Inc., $2.12 Convertible Cumulative Preference Stock, redeemable anytime at the company's option at $28 per share, cumulative. Distributions of $2.12 per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1. The Series A shares are convertible at any time at the holder's option into 16.53 common shares. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders.
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Go to Parent Company's Record (PBI)
Previous Ticker Symbol: PBI- Changed: 5/02/2013
Market Value $35.8 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 3001 Summer Street, Stamford, CT 06926 |
| Main Phone Number |
203-356-5000 |
| Fax Number |
203-351-7336 |
| Investor Relations
Adam David
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203-351-7175
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| Toll Free Phone Number |
800-672-6937 |
| CEO - Marc B. Lautenbach |
CFO - Stanley J. Sutula III |
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