Franklin Universal Trust said on June 7, 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 June 16, 2023 to qualify for the dividend. Shareholders of record as of June 20, 2023 will receive the payment on June 30, 2023.
At the current share price of $6.83 / share, the stock's dividend yield is 7.47%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.90%, the lowest has been 4.75%, and the highest has been 8.75%. The standard deviation of yields is 1.12 (n=196).
The current dividend yield is 1.40 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 42 funds or institutions reporting positions in Franklin Universal Trust. This is an increase of 3 owner(s) or 7.69% in the last quarter. Average portfolio weight of all funds dedicated to FT is 0.06%, a decrease of 22.17%. Total shares owned by institutions increased in the last three months by 2.10% to 3,909K shares.
What are Other Shareholders Doing?
Koshinski Asset Management holds 536K shares. In it's prior filing, the firm reported owning 506K shares, representing an increase of 5.49%. The firm increased its portfolio allocation in FT by 12.94% over the last quarter.
Moloney Securities Asset Management holds 423K shares. In it's prior filing, the firm reported owning 398K shares, representing an increase of 5.81%. The firm decreased its portfolio allocation in FT by 5.09% over the last quarter.
Wells Fargo holds 304K shares. In it's prior filing, the firm reported owning 303K shares, representing an increase of 0.40%. The firm decreased its portfolio allocation in FT by 65.79% over the last quarter.
Foundations Investment Advisors holds 280K shares. In it's prior filing, the firm reported owning 257K shares, representing an increase of 8.20%. The firm increased its portfolio allocation in FT by 27.55% over the last quarter.
Stifel Financial holds 256K shares. In it's prior filing, the firm reported owning 270K shares, representing a decrease of 5.35%. The firm decreased its portfolio allocation in FT by 76.72% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
