Franklin Resources, Inc. Plans Quarterly Dividend of $0.33 (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) declared a quarterly dividend on Wednesday, May 20th. Investors of record on Monday, June 29th will be given a dividend of 0.33 per share by the closed-end fund on Friday, July 10th. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, June 29th.

Franklin Resources has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 45 consecutive years. Franklin Resources has a dividend payout ratio of 58.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Franklin Resources to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 44.9%.

Franklin Resources Price Performance

Franklin Resources stock opened at $31.22 on Thursday. Franklin Resources has a 12 month low of $21.06 and a 12 month high of $32.44. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.10. The business’s 50 day simple moving average is $26.73 and its 200 day simple moving average is $25.44. The company has a market cap of $16.22 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 0.89 and a beta of 1.56.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, beating the consensus estimate of $0.55 by $0.16. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Franklin Resources’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Franklin Resources will post 2.71 EPS for the current year.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.