| According to the firms, Federated’s level of business activity and financial results are dependent upon many factors including market conditions, investment performance and investor behavior. These factors and others including asset levels, product sales and redemptions, market appreciation or depreciation, revenues, fee waivers and expenses can impact Federated’s activity levels and financial results significantly.
Fee waivers to produce positive or zero net yields could vary significantly based on market conditions. The amount of these waivers will be determined by a variety of factors, but not limited to the available yields on instruments held by the money market funds, changes in assets within money market funds, actions by the Federal Reserve and the U.S. Department of the Treasury, changes in the mix of money market customer assets, changes in expenses of the money market funds and Federated’s willingness to continue these waivers.
Share Repurchase
During 1Q11, Federated purchased 110,300 shares of Federated Class B common stock for $2.9 million.
Dividend
On April 28, 2011, Federated’s board of directors declared a quarterly dividend of $0.24 per share. The dividend was paid on May 13, 2011 to shareholders of record as of May 6, 2011.
On February 15, 2011, Federated paid a quarterly dividend of $0.24 per share to shareholders of record as on February 8, 2011.
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