Franklin Resources (BEN) Declares $0.30 Dividend
Franklin Resources said on June 8, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 14, 2023.
At the current share price of $26.37 / share, the stock's dividend yield is 4.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.03%, the lowest has been 2.68%, and the highest has been 7.06%. The standard deviation of yields is 0.88 (n=236).
The current dividend yield is 0.60 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.71. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1118 funds or institutions reporting positions in Franklin Resources. This is an increase of 6 owner(s) or 0.54% in the last quarter. Average portfolio weight of all funds dedicated to BEN is 0.15%, an increase of 3.45%. Total shares owned by institutions increased in the last three months by 0.92% to 275,423K shares. 
The put/call ratio of BEN is 0.64, indicating a bullish outlook.
Analyst Price Forecast Suggests 5.04% Downside
As of June 1, 2023, the average one-year price target for Franklin Resources is 25.04. The forecasts range from a low of 20.20 to a high of $29.40. The average price target represents a decrease of 5.04% from its latest reported closing price of 26.37.
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The projected annual revenue for Franklin Resources is 7,507MM, a decrease of 4.55%. The projected annual non-GAAP EPS is 2.50.
What are Other Shareholders Doing?
Capital Research Global Investors holds 22,341K shares representing 4.46% ownership of the company. In it's prior filing, the firm reported owning 18,003K shares, representing an increase of 19.42%. The firm increased its portfolio allocation in BEN by 19.67% over the last quarter.
SDY - SPDR(R) S&P(R) Dividend ETF holds 12,584K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 17,286K shares, representing a decrease of 37.36%. The firm decreased its portfolio allocation in BEN by 23.35% over the last quarter.
AMRMX - AMERICAN MUTUAL FUND holds 10,784K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 4,906K shares, representing an increase of 54.51%. The firm increased its portfolio allocation in BEN by 179.51% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,278K shares representing 1.85% ownership of the company. In it's prior filing, the firm reported owning 9,102K shares, representing an increase of 1.89%. The firm decreased its portfolio allocation in BEN by 3.88% over the last quarter.
DVY - iShares Select Dividend ETF holds 7,437K shares representing 1.48% ownership of the company. In it's prior filing, the firm reported owning 7,184K shares, representing an increase of 3.40%. The firm increased its portfolio allocation in BEN by 25.56% over the last quarter.
Franklin Resources Background Information
(This description is provided by the company.)
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience. The company posts information that may be significant for investors in the Investor Relations and News Center sections of its website, and encourages investors to consult those sections regularly.
Key filings for this company:
This story originally appeared on Fintel.