Dividend Aristocrat Franklin Resources (BEN) will raise its quarterly dividend by 3.8 percent to $0.27 per share in the fourth quarter of 2019. This follows a double digit dividend hike in the previous five years.

The next dividend is payable on January 10, 2020 to stockholders of record holding shares of common stock at the close of business on December 31, 2019. A new annualized dividend rate of $1.08 per share yields 4.2% at a stock price of $26.

Franklin Resources, Inc. is an investment management organization operating as Franklin Templeton Investments. The company provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions worldwide through its investment products. The company offers its investment products and services under the Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2,  LibertyShares and Edinburgh Partners brand names. The company has raised its dividend every year since 1981.