Pitney Bowes calls 4% convertible preferreds, $2.12 preference stock

By Marisa Wong

Morgantown, W.Va., April 22 – Pitney Bowes Inc. has called all of its outstanding 4% convertible cumulative preferred stock and $2.12 convertible preference stock for redemption on June 18, according to a news release.

The 4% convertible preferreds and $2.12 preference shares will be redeemed at $50.00 per share and $28.00 per share, respectively, plus accrued dividends.

Holders of the 4% preferreds may convert each preferred share into 24.24 shares of Pitney Bowes stock in lieu of the redemption prior to 5 p.m. ET on June 18.

Holders of the $2.12 preference shares may convert each preference share into 16.53 shares of Pitney Bowes stock in lieu of the redemption prior to 5 p.m. ET on June 17.

Pitney Bowes is a mail processing equipment, global e-commerce and software company based in Stamford, Conn.

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