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Pitney Bowes Announces Strategic Actions and Provides Guidance for 2008.

Publication: Business Wire
Publication Date: 15-NOV-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
* Exploring strategic alternatives for U.S. Management Services

* Increasing share repurchase program to $500 million

* Raising the dividend by 6 percent

* Targeting $150 million in benefits from transition initiatives

STAMFORD, Conn. -- Pitney Bowes Inc. (NYSE:PBI) today announced four strategic actions aimed at enhancing shareholder value.

First, following a comprehensive review of the company's business portfolio, the company has decided to explore strategic alternatives to determine the best course of action for its U.S. Management Services business.

Second, the company's Board of Directors has increased the share repurchase authorization to $500 million. The company plans to complete the repurchases within six months. The larger size of the program reflects the company's strong cash flow as well as its confidence in the stock as an attractive investment opportunity.

Third, the company's Board of Directors has authorized a 2 cent increase in the quarterly dividend. This represents a 6 percent rate of increase and will apply to the dividend with a record date of February 18, 2008.

Fourth, the company...

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