Federated Hermes, Inc. Announces Quarterly Dividend of $0.34 (NYSE:FHI)

Key Points

• Federated Hermes, Inc. declared a quarterly dividend of $0.34 per share, with an ex-dividend date of August 8th and a payment date set for August 15th, representing a 2.8% annual yield.
• The company reported earnings of $1.16 per share for Q2, exceeding analyst estimates by $0.17, alongside a revenue increase of 5.5% year-over-year, amounting to $424.84 million.
• As of the latest trading, Federated Hermes shares fell 0.6% to $49.25, with a market capitalization of $3.90 billion and a PE ratio of 13.87, reflecting solid performance amidst active institutional trading.

Federated Hermes, Inc. (NYSE:FHI - Get Free Report) declared a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Investors of record on Friday, August 8th will be given a dividend of 0.34 per share on Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, August 8th.

Federated Hermes has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Federated Hermes to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 31.6%.

Federated Hermes Trading Down 0.1%

NYSE:FHI traded down $0.03 during mid-day trading on Tuesday, hitting $51.01. 224,771 shares of the company's stock were exchanged, compared to its average volume of 833,936. The company has a 50 day simple moving average of $44.99 and a 200-day simple moving average of $41.38. The company has a current ratio of 3.37, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. Federated Hermes has a fifty-two week low of $31.94 and a fifty-two week high of $51.24. The firm has a market capitalization of $4.03 billion, a P/E ratio of 11.31, a PEG ratio of 0.91 and a beta of 0.77.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.99 by $0.17. The business had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. As a group, research analysts expect that Federated Hermes will post 4.04 earnings per share for the current year.

Federated Hermes Company Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.