Franklin Resources, Inc. (BEN) to Distribute Quarterly Dividend of $0.33 on July 10th

Franklin Resources, Inc. (NYSE:BEN) declared a quarterly dividend on Wednesday, May 20th. Shareholders 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 4.0%. The ex-dividend date of this dividend is Monday, June 29th.

Franklin Resources has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 45 consecutive years. Franklin Resources has a dividend payout ratio of 58.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Franklin Resources to earn $3.00 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 44.0%.

Franklin Resources Price Performance

BEN opened at $33.24 on Friday. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 0.85 and a beta of 1.55. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.10. Franklin Resources has a 12-month low of $21.10 and a 12-month high of $34.42. The business’s fifty day simple moving average is $30.93 and its 200-day simple moving average is $27.22.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share 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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Franklin Resources will post 2.77 earnings per share for the current fiscal 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.