Federated Hermes, Inc. reports developments in active investment management across liquidity management, equity, fixed-income, alternative/private markets and multi-asset strategies for institutional and intermediary clients. Recurring updates cover earnings, managed-asset levels and flows, money market and equity asset trends, quarterly common-stock dividends, investor conference participation and shareholder-meeting matters.
Company news also includes product and platform actions, including dividends for Federated Hermes Premier Municipal Income Fund, leverage changes at that fund, leadership succession within investment-management units and completed acquisitions such as Federated Hermes FCP Manager, LLC, which expanded the firm's U.S. real estate and private-markets capabilities.
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Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has announced a $0.050 tax-free dividend per share, with a record date of August 21, 2020 and an ex-dividend date of August 20, 2020. The dividend is exempt from federal income tax and the alternative minimum tax, benefiting investors seeking tax-efficient income. The payable date for the dividend is set for September 1, 2020.
Federated Hermes, Inc. (NYSE: FHI) manages $628.8 billion in assets as of June 30, 2020, and emphasizes responsible investing.
Federated Hermes, Inc. (NYSE: FHI) reported Q2 2020 earnings per diluted share of $0.80, up from $0.62 in Q2 2019, with net income increasing to $81.2 million. Year-to-date EPS reached $1.44, compared to $1.16 in 2019. Total managed assets hit a record $628.8 billion, up 25% year-over-year. Strong demand for fixed-income and money market strategies led to asset growth, with fixed-income assets rising to $73.1 billion. The board declared a quarterly dividend of $0.27 per share, payable August 14, 2020. However, equity assets decreased by 6% from the previous year due to net redemptions.
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Federated Hermes Premier Municipal Income Fund has announced a dividend payment of $0.050 per share, with a record date of July 23, 2020 and an ex-dividend date on July 22, 2020. The dividend is exempt from federal income tax and AMT. This fund aims to provide investors with current dividend income while managing a portfolio of $605.8 billion in assets as of March 31, 2020. The payable date is set for August 3, 2020.
Federated Hermes, Inc. (NYSE: FHI) will release its financial results for the quarter ended June 30, 2020 on July 30, 2020, post-market. An investor conference call, led by CEO J. Christopher Donahue and CFO Thomas R. Donahue, is scheduled for 9 a.m. Eastern on July 31, 2020. The company manages $605.8 billion in assets as of March 31, 2020, offering a range of investment strategies. Interested investors can access the call via dial-in or online at FederatedHermes.com.
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