Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Chris Donahue Defends Federated's February Move Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 11, 2010

Chris Donahue Defends Federated's February Move

News summary by MFWire's editors

SmartMoney magazine had a chat with Federated Investors [see profile] CEO Chris Donahue in which he talked about money market funds, acquisitions, and the special dividend paid out earlier this year.

Asked about Federated's "controversial" special dividend of $1.26 a share, which some analysts said should have gone to share repurchases or acquisitions, Donahue replied: "I don't view it as controversial. Since we went public in 1998, we’ve spent $785 million on acquisitions, around $1 billion in repurchases and over $1 billion in dividends. Paying a special dividend rewards long-term shareholders."

As for acquisitions, Donahue said Federated is focused on the international side. He pointed out that in 28 percent of the population in Germany owns funds, and other countries across the globe share similar stats.

"That's a big opportunity -- plus, it'll be a lot of fun," Donahue said.

Of course, no interview with Donahue is complete without a discussion of money market funds.

Asked whether the SEC rules will drive down yields, he responded: "Yes, in a normal rate environment. But the new rules are not a big deal for us. It enhances the consolidation opportunities in the business.

On a lighter note, Donahue revealed that fly-fishing is a "mind-cleansing" exercise. 

Edited by: Armie Margaret Lee


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use