Federated Hermes, Inc. announced its first-quarter 2025 financial results, reporting diluted earnings per share (EPS) of $1.25, a notable increase from $0.89 in Q1 2024. Net income for the quarter rose to $101.1 million, up from $75.0 million in the prior year period. The Q1 2025 results included a $12.9 million decrease in other operating expenses, contributing $0.15 per diluted share, due to a value-added tax (VAT) refund received in the U.K.
The company achieved its tenth consecutive quarter of record assets under management, reaching $839.8 billion at March 31, 2025, an 8% increase from $778.7 billion a year earlier. Money market assets continued their strong growth, hitting a record $637.1 billion, up 10% year-over-year, driven by sustained inflows. Equity assets increased by $1.5 billion from year-end 2024, primarily due to $1.4 billion in net sales, led by MDT fundamental quant strategies.
Federated Hermes' board of directors declared a dividend of $0.34 per share, marking an increase of $0.03, or 9.7%, from the previous quarter's dividend of $0.31 per share. This dividend is payable on May 15, 2025. Additionally, the company demonstrated its commitment to capital return by purchasing 3,057,542 shares of Class B common stock for $120.1 million during the first quarter of 2025.
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