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

Key Points

• Franklin Resources declared a quarterly dividend of $0.33 per share, payable October 9 to shareholders of record on September 30; the annualized dividend is $1.32, yielding approximately 3.8%.
• The company has increased its dividend for 45 consecutive years, with a current payout ratio of 58.4%. Analysts expect a forward payout ratio of about 41.5%, indicating continued earnings coverage.
• Franklin Resources reported quarterly earnings of $0.72 per share, beating estimates of $0.66, while revenue rose 14.3% year over year to $2.36 billion.

Franklin Resources, Inc. (NYSE:BEN - Get Free Report) announced a quarterly dividend on Tuesday, August 25th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.33 per share by the closed-end fund on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 30th.

Franklin Resources has raised its dividend payment 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Resources to earn $3.18 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 41.5%.

Franklin Resources Trading Up 1.3%

Shares of BEN opened at $35.07 on Wednesday. Franklin Resources has a 52-week low of $21.10 and a 52-week high of $36.28. The business's fifty day moving average is $33.59 and its 200-day moving average is $29.84. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 0.69 and a beta of 1.55.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.Franklin Resources's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. Equities analysts anticipate that Franklin Resources will post 2.88 EPS 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.

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