5 Dividend Disappointments So Far in 2013

Exelon, Cliffs and others made significant cuts to their payouts

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Pitney Bowes

Pitney Bowes (NYSE:PBI)Dividend Change: -50%

Perhaps the only thing keeping new investors in Pitney Bowes (PBI) stock amid years of decline was a dividend yield that kept getting juicier. However, some of the air came out of those sails back in late April with a 50% cut to the payout, from 37.5 cents per share per quarter to 18.75 cents, that accompanied a pretty lackluster first-quarter report.

While Pitney Bowes’ stock actually remains up 40% year-to-date, PBI is down 6% since declaring its dividend cut. Now, investors get to wait for Q2 numbers and hope for better news.

Article printed from InvestorPlace Media, http://investorplace.com/2013/06/5-companies-cutting-dividends-in-2013-nok-ctl-f-wfc-jpm-pbi/.

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