Pitney Bowes 2012 Annual Report Download - page 26

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PART II
8
ITEM 5. MARKET FOR THE COMPANY'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
Our common stock is traded under the symbol “PBI” and is principally traded on the New York Stock Exchange (NYSE). At January 31,
2013, we had 20,614 common stockholders of record. The following table sets forth the high and low sales prices, as reported on the
NYSE, and the cash dividends paid per share of common stock, for the periods indicated.
Stock Price Dividend Per
ShareHigh Low
Year Ended December 31, 2012
First Quarter $19.65 $17.45 $0.375
Second Quarter $17.87 $12.81 0.375
Third Quarter $15.27 $12.64 0.375
Fourth Quarter $14.73 $10.34 0.375
$1.50
Year Ended December 31, 2011
First Quarter $26.15 $23.46 $0.37
Second Quarter $26.36 $22.05 0.37
Third Quarter $23.47 $18.00 0.37
Fourth Quarter $21.20 $17.33 0.37
$1.48
Share Repurchases
We periodically repurchase shares of our common stock to manage the dilution created by shares issued under employee stock plans
and for other purposes in the open market. There were no shares repurchased in 2012. At December 31, 2012, we have remaining
authorization to repurchase up to $50 million of our common stock.
Stock Performance Graph
In 2012, we revised our Peer Group. Our previous peer group (Old Peer Group) was weighted towards companies with higher revenues
and market capitalization than ours. Our new group (New Peer Group) consists of services, industrial and technology companies and
eliminates our previous focus on industrial machinery companies. The New Peer Group consists of companies with revenues between
$2 billion and $22 billion and market capitalization between $1 billion and $14 billion.
The New Peer Group is comprised of the following companies: Agilent Technologies Inc., Alliance Data Systems Corp., Avery
Dennison Corp., Diebold Inc., R.R. Donnelley & Sons Co., DST Systems, Inc., Fiserv Inc., Harris Corp., Iron Mountain Inc., Lexmark
International, Inc., NCR Corp., Pitney Bowes Inc., Rockwell Automations Inc., Unisys Corp. and Xerox Corporation.
The Old Peer Group is comprised of the following companies: Automatic Data Processing, Inc., Diebold, Inc., R.R. Donnelley &
Sons Co., DST Systems, Inc., FedEx Corporation, Hewlett-Packard Company, Lexmark International, Inc., Pitney Bowes Inc., United
Parcel Service, Inc., and Xerox Corporation.
All information is based upon data independently provided to us by Standard & Poor's Corporation and is derived from their official
total return calculation. Total return for the S&P 500 Composite Index, the New Peer Group and the Old Peer Group is based on
market capitalization, weighted for each year.