Franklin Resources, Inc. (BEN) Declares Dividend Increase – $3.00 Per Share

Franklin Resources, Inc. (NYSE:BEN) announced a special dividend on Wednesday, February 14th, RTT News reports. Shareholders of record on Thursday, March 29th will be given a dividend of 3.00 per share by the closed-end fund on Thursday, April 12th. This represents a yield of 2.35%. The ex-dividend date is Wednesday, March 28th. This is a boost from Franklin Resources’s previous special dividend of $0.50.

Franklin Resources has increased its dividend payment by an average of 18.6% annually over the last three years and has raised its dividend annually for the last 36 consecutive years. Franklin Resources has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Resources to earn $3.52 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 26.1%.

Shares of Franklin Resources (NYSE BEN) opened at $37.27 on Friday. Franklin Resources has a 1 year low of $37.01 and a 1 year high of $47.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.28 and a current ratio of 4.28. The stock has a market capitalization of $21,345.41, a PE ratio of 31.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.64.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.13. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. equities research analysts forecast that Franklin Resources will post 3.26 EPS for the current year.

BEN has been the subject of several analyst reports. ValuEngine raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Thursday, January 11th. Deutsche Bank decreased their target price on Franklin Resources from $40.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday, March 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 target price on shares of Franklin Resources in a research report on Friday, December 22nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $43.40.

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About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Dividend History for Franklin Resources (NYSE:BEN)

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