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BEN

Sector Update: Financials Flat in Pre-Market

Top Financial Shares:

JPM: +0.16%

BAC: +0.06%

WFC: flat

C: flat

USB: flat

Financial shares are fairly flat in today's pre-market session after the U.S. government mulled a budget deal yesterday, offering more fodder for the case that tapering of the Federal Reserve's bond-buying stimulus could begin soon.

In financial stocks news, Franklin Resources ( BEN ) has declared a quarterly cash dividend in the amount of $0.12 per share, payable January 10, 2014, to stockholders of record at the close of business December 31, 2013. The quarterly dividend of $0.12 per share is a 20% increase over the dividend paid for the prior quarter and represents a 24% increase over the quarterly dividend paid for the same quarter last year.

BEN's board of directors has also authorized the company to purchase up to an aggregate of 30.0 million shares of its common stock in either open market or off-market transactions.

Royal Bank of Scotland ( RBS ) shares are down 3% this morning after the bank is losing finance director Nathan Bostock 10 weeks after he started the job, CNBC is reporting. RBS said Bostock told them of his plans to resign yesterday evening and he will formally resign soon.

Bostock is returning to Santander, where he previously held several executive positions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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