PBI » Topics » Repurchases of Equity Securities

This excerpt taken from the PBI 10-Q filed May 7, 2009.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2009 in any other manner.

No shares were purchased during the first quarter of 2009, leaving approximately $73.4 million available for future repurchases under this program at March 31, 2009.

34


Item 3: Defaults Upon Senior Securities

None

Item 4: Submission of Matters to a Vote of Security Holders

None

Item 5: Other Information

None

Item 6: Exhibits

See Index of Exhibits.

35


Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

PITNEY BOWES INC.

 

 

May 7, 2009

 

 

 

 

 

 

/s/ Michael Monahan

 


 

Michael Monahan

 

Executive Vice President and

 

Chief Financial Officer

 

(Principal Financial Officer)

 

 

 

/s/ S. J. Green

 


 

S. J. Green

 

Vice President – Finance and

 

Chief Accounting Officer

 

(Principal Accounting Officer)

36


This excerpt taken from the PBI 10-Q filed Nov 7, 2008.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2008 in any other manner.

The following table summarizes our share repurchase activity under active programs during the first nine months of 2008:

              Total number of     Approximate dollar value
    Total number     Average price   shares purchased as     of shares that may yet be
    of shares     paid per   part of a publicly     purchased under the plan
    purchased     share   announced plan     (in thousands)
December 2007 Balance                 $ 406,607
January 2008   2,162,600   $ 35.91   2,162,600   $ 328,942
February 2008   1,918,500   $ 37.17   1,918,500   $ 257,636
March 2008   875,600   $ 35.43   875,600   $ 226,610
April 2008   2,222,500   $ 35.78   2,222,500   $ 147,085
May 2008   356,000   $ 36.21   356,000   $ 134,194
June 2008   -     -   -   $ 134,194
July 2008   -     -   -   $ 134,194
August 2008   -     -   -   $ 134,194
September 2008   1,711,335   $ 35.54   1,711,335   $ 73,376
    9,246,535         9,246,535      

This excerpt taken from the PBI 10-Q filed Aug 7, 2008.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2008 in any other manner.

The following table summarizes our share repurchase activity under active programs during the first six months of 2008:

            Total number of     Approximate dollar value
    Total number   Average price   shares purchased as     of shares that may yet be
    of shares   paid per   part of a publicly     purchased under the plan
    purchased               share               announced plan                  (in thousands)
December 2007 Balance               $                          406,607
January 2008   2,162,600   $35.91   2,162,600   $                          328,942
February 2008   1,918,500   $37.17   1,918,500   $                          257,636
March 2008   875,600   $35.43   875,600   $                          226,610
April 2008   2,222,500   $35.78   2,222,500   $                          147,085
May 2008   356,000   $36.21   356,000   $                          134,194
June 2008   -       -   $                          134,194
             7,535,200       7,535,200      

This excerpt taken from the PBI 10-Q filed May 8, 2008.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2008 in any other manner.

The following table summarizes our share repurchase activity under active programs during the first three months of 2008:

            Total number of     Approximate dollar value
    Total number   Average price   shares purchased as     of shares that may yet be
    of shares   paid per   part of a publicly     purchased under the plan
Period   purchased        share        announced plan          (in thousands)
March 2007 Program                  
Balance carried forward               $ 406,607
January 2008   2,162,600   $35.91   2,162,600   $ 328,942
February 2008   1,918,500   $37.17   1,918,500   $ 257,636
March 2008   875,600   $35.43   875,600   $ 226,610
    4,956,700       4,956,700      
This excerpt taken from the PBI 10-Q filed Nov 8, 2007.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2007 in any other manner.

In March 2006, our Board of Directors authorized $300 million for repurchases of outstanding shares of our common stock in the open market of which $141.2 million remained for future purchases at December 31, 2006. We repurchased 3.0 million shares during the six months ended June 30, 2007 under this program for a total price of $141.2 million. There are no further funds available under this authorization for the repurchase of outstanding shares.

In March 2007, our Board of Directors authorized the repurchase of up to an additional $300 million of our common stock in the open market. We repurchased 3.0 million shares during the nine months ended September 30, 2007 under this program for a total price of $138.8 million, leaving $161.2 remaining for future repurchases.

The following table summarizes our share repurchase activity under active programs during the first nine months of 2007:

            Total number of    Approximate dollar value 
    Total number    Average price    shares purchased as    of shares that may yet be 
    of shares    paid per    part of a publicly    purchased under the plan 
Period    purchased    share    announced plan    (in thousands) 
March 2006 Program                   
Balance carried forward                  $141,199 
January 2007    866,300   
$47.88 
  866,300      $  99,721 
February 2007    451,850   
$47.99 
  451,850      $  78,035 
March 2007    586,100   
$45.78 
  586,100      $  51,203 
April 2007    518,700   
$46.95 
  518,700      $  26,849 
May 2007    564,452   
$47.57 
  564,452      $           - 
     Total    2,987,402   
  2,987,402       
March 2007 Program       
         
March 2007    -   
- 
  -      $300,000 
April 2007    -   
- 
  -      $300,000 
May 2007    61,148   
$47.57 
  61,148      $297,090 
June 2007    661,054   
$46.73 
  661,054      $266,199 
July 2007    484,000   
$46.74 
  484,000      $243,575 
August 2007    1,116,400   
$44.79 
  1,116,400      $193,577 
September 2007    714,800   
$45.29 
  714,800      $161,203 
     Total    6,024,804        6,024,804       

This excerpt taken from the PBI 10-Q filed Aug 6, 2007.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2007 in any other manner.

In March 2006, our Board of Directors authorized $300 million for repurchases of outstanding shares of our common stock in the open market of which $141.2 million remained for future purchases at December 31, 2006. We repurchased 3.0 million shares during the six months ended June 30, 2007 under this program for a total price of $141.2 million. There are no further funds available under this authorization for the repurchase of outstanding shares.

In March 2007, our Board of Directors authorized the repurchase of up to an additional $300 million of our common stock in the open market. We repurchased 0.7 million shares during the six months ended June 30, 2007 under this program for a total price of $33.8 million, leaving $266.2 remaining for future repurchases.

The following table summarizes our share repurchase activity under active programs during the first six months of 2007:

                  Total number of     Approximate dollar value
      Total number     Average price     shares purchased as     of shares that may yet be
      of shares      paid per         part of a publicly         purchased under the plan
Period     purchased        
share
    announced plan      (in thousands)
March 2006 Program                            
Balance carried forward                      
          $
141,199  
January 2007     866,300     $47.88     866,300    
$
99,721  
February 2007     451,850     $47.99     451,850    
$
78,035  
March 2007     586,100     $45.78     586,100    
$
51,203  
April 2007     518,700     $46.95     518,700    
$
26,849  
May 2007     564,452     $47.57  
 
564,452
 
 
$
0  
      2,987,402           2,987,402    
   
March 2007 Program                      
   
March 2007     -     -     -    
$
300,000  
April 2007     -     -     -    
$
300,000  
May 2007     61,148     $47.57     61,148    
$
297,090  
June 2007     661,054     $46.73  
 
               661,054
  
 
$
266,199  
                        3 ,709,604           3,709,604          

This excerpt taken from the PBI 10-Q filed May 4, 2007.

Repurchases of Equity Securities

We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2007 in any other manner.

In March 2006, our Board of Directors authorized the repurchase of up to $300 million of our common stock in the open market of which $141.2 million remained for future purchases at December 31, 2006. We repurchased 1.9 million shares during the three months ended March 31, 2007 under this program for a total price of $90.0 million, leaving $51.2 million remaining for future repurchases under this program.

In March 2007, our Board of Directors authorized the repurchase of up to an additional $300 million of our common stock in the open market.

The following table summarizes our share repurchase activity under active programs during the first three months of 2007:

              Total number of   Approximate dollar value
    Total number     Average price   shares purchased as   of shares that may yet be
    of shares     paid per   part of a publicly   purchased under the plan
Period   purchased     share   announced plan   (in thousands)
March 2006 Program                    
Balance carried forward                 $ 141,199
January 2007   866,300     $47.88   866,300   $ 99,721
February 2007   451,850     $47.99   451,850   $ 78,035
March 2007   586,100     $45.78   586,100   $ 51,203
    1,904,250         1,904,250      
March 2007 Program                    
March 2007   -     -   -   $ 300,000
    1,904,250         1,904,250   $ 351,203

This excerpt taken from the PBI 10-Q filed Aug 8, 2006.

Repurchases of Equity Securities

     We repurchase shares of our common stock under a systematic program to manage the dilution created by shares issued under employee stock plans and for other purposes. This program authorizes repurchases in the open market. We have not repurchased or acquired any other shares of our common stock during 2006 in any other manner.

     In September 2005, our Board of Directors authorized $300 million for repurchases of outstanding shares of our common stock in the open market during the subsequent 12 to 24 months of which $241.2 million remained for future purchases at December 31, 2005. We repurchased 5.7 million shares during the six months ended June 30, 2006 under this program for a total price of $241.2 million. There are no further funds available under this authorization for the repurchase of outstanding shares.

     In March 2006, our Board of Directors authorized the repurchase of up to an additional $300 million of our common stock in the open market during the subsequent 12 to 24 months. We repurchased 1.2 million shares during the three months ended June 30, 2006 under this program for a total price of $51.5 million, leaving $248.5 million remaining for future repurchases under this program.

34


     The following table summarizes our share repurchase activity under active programs during the first six months of 2006:

   
Total number of 
Approximate dollar value 
   
Total number 
Average price 
shares purchased as 
of shares that may yet be 
   
of shares 
paid per 
part of a publicly 
purchased under the plan 
Period   
purchased 
share 
announced plan 
(in thousands) 

     
     
     

September 2005 Program 
                 
Balance carried forward    -    -    -    $  241,199 
January 1 through 31, 2006    124,900    $42.84    124,900    $  235,853 
February 1 through 28, 2006     725,400    $42.81    725,400    $  204,795 
March 1 through 31, 2006    2,731,500    $42.75    2,731,500    $  88,022 
April 1 through 30, 2006    2,044,171    $43.06    2,044,171    $  0 


    5,625,971        5,625,971       
                   
March 2006 Program 
                 
March 1 through 31, 2006    -    -    -    $  300,000 
April 1 through 30, 2006    1,207,402    $43.06    1,207,402    $  248,009 
May 1 through 31, 2006    15,205    $42.65    15,205    $  247,361 
June 1 through 30, 2006    -    -    -    $  247,361 


    1,222,607        1,222,607       


     


   Total repurchases    6,848,578        6,848,578       



35


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki