Federated Investors, Inc. (FII) will raise its quarterly dividend by 8 percent to $0.27 per share in May 2018. This marks the first dividend hike by the company since 2013.

The dividend is payable on May 15, 2018 to shareholders of record as of May 8, 2018. The new dividend yield for FII is 3.2%.

Federated Investors, Inc. (Federated) is a provider of investment management products and related financial services. Federated operates through investment management business segment. It is engaged in sponsoring, marketing and providing investment-related services to various investment products, including mutual funds and Separate Accounts, which include separately managed accounts, institutional accounts, sub-advised funds and other managed products. Federated managed $392.2 billion in assets as of March 31, 2018.