Federated Hermes, Inc. (NYSE:FHI) Shares to Pay Quarterly Dividend of $0.38

Key Points

• Federated Hermes declared a quarterly dividend of $0.38 per share, payable November 13 to shareholders of record November 6. The dividend implies $1.52 in annual payments and a 2.6% yield.
• The dividend appears well covered, with a 34.6% payout ratio and an expected future payout ratio of 26.1%; the company has raised its dividend annually for four consecutive years.
• Federated Hermes reported quarterly earnings of $1.50 per share, beating estimates of $1.42, while revenue rose 8.1% year over year to $507.33 million.

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.38 per share on Friday, November 13th. This represents a $1.52 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, November 6th.

Federated Hermes has decreased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Federated Hermes has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Federated Hermes to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.1%.

Federated Hermes Stock Up 2.1%

NYSE:FHI opened at $57.99 on Friday. The firm's 50 day simple moving average is $58.70 and its 200 day simple moving average is $57.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. The company has a market cap of $4.33 billion, a PE ratio of 10.78, a P/E/G ratio of 1.50 and a beta of 0.66. Federated Hermes has a one year low of $46.66 and a one year high of $67.20.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.08. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The business had revenue of $507.33 million during the quarter, compared to the consensus estimate of $504.91 million. During the same quarter last year, the firm earned $1.34 earnings per share. Federated Hermes's quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Federated Hermes will post 5.51 earnings per share for the current year.

About Federated Hermes

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.

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