Franklin Universal Trust (FT) Declares $0.04 Dividend

Franklin Universal Trust said on April 10, 2023 that its board of directors declared a regular monthly dividend of $0.04 per share ($0.51 annualized). Previously, the company paid $0.04 per share.

Shares must be purchased before the ex-div date of April 19, 2023 to qualify for the dividend. Shareholders of record as of April 20, 2023 will receive the payment on April 28, 2023.

At the current share price of $7.18 / share, the stock's dividend yield is 7.10%. Looking back five years and taking a sample every week, the average dividend yield has been 5.80%, the lowest has been 4.75%, and the highest has been 8.75%. The standard deviation of yields is 1.02 (n=196).

The current dividend yield is 1.28 standard deviations above the historical average.

The company's 3-Year dividend growth rate is 0.48%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 39 funds or institutions reporting positions in Franklin Universal Trust. This is a decrease of 3 owner(s) or 7.14% in the last quarter. Average portfolio weight of all funds dedicated to FT is 0.06%, an increase of 7.41%. Total shares owned by institutions increased in the last three months by 5.80% to 3,829K shares.

What are Other Shareholders Doing?

Seacrest Wealth Management holds 17K shares. In it's prior filing, the firm reported owning 17K shares, representing an increase of 1.77%. The firm increased its portfolio allocation in FT by 2.55% over the last quarter.

Advisor Group Holdings holds 183K shares. In it's prior filing, the firm reported owning 202K shares, representing a decrease of 10.68%. The firm decreased its portfolio allocation in FT by 14.93% over the last quarter.

PCEF - Invesco CEF Income Composite ETF holds 294K shares. In it's prior filing, the firm reported owning 297K shares, representing a decrease of 1.05%. The firm increased its portfolio allocation in FT by 6.54% over the last quarter.

GWM Advisors holds 21K shares. In it's prior filing, the firm reported owning 20K shares, representing an increase of 6.10%. The firm increased its portfolio allocation in FT by 85.34% over the last quarter.

Foundations Investment Advisors holds 257K shares. In it's prior filing, the firm reported owning 178K shares, representing an increase of 30.91%. The firm decreased its portfolio allocation in FT by 99.86% over the last quarter.

Franklin Universal Trust Background Information
(This description is provided by the company.)

The fund seeks to provide high current income consistent with preservation of capital. Its secondary objective is growth of income through dividend increases and capital appreciation.

This story originally appeared on Fintel.