Federated Investors (FII) Declares $2.76/Sh Special Dividend; 5M Share Buyback
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Federated Investors, Inc. (NYSE: FII) declared a special cash dividend of $2.76 per share. Dividend payments for Q3 2008 will total $3.00 per share, including the $0.24 dividend paid on Aug. 15, 2008. Federated's solid financial position allowed the board to declare the special dividend to return additional value to shareholders. The special dividend is payable on Sept. 15, 2008 to shareholders of record as of Sept. 9, 2008.
In addition, the board of directors authorized a new share repurchase program that allows Federated to buy back as many as 5 million additional shares of class B common stock in the future.
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