Dividend Aristocrat Franklin Resources (BEN) will raise its quarterly dividend by 3.7 percent to 28 cents per share in 2020. This follows a 3.8 percent hike to $0.27 per share announced by the company in the fourth quarter of 2019. Franklin Resources has raised its dividend 40 consecutive years.
The next dividend is payable on January 15, 2021 to stockholders of record holding shares of common stock at the close of business on December 31, 2020. A new annualized dividend rate of $1.12 per share yields 4.5% at a stock price of $25.
Dividend growth has been slowing the last two year with the average dividend growth rate in the last five years dropping below 10 percent this year. Franklink Resources now pays an estimated $555 million in dividends to its shareholders annually.
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.