SAN MATEO, Calif. - Franklin Resources (NYSE:BEN), Inc. [NYSE:BEN], an investment management firm, has declared a quarterly cash dividend of $0.31 per share, maintaining the same rate as the previous quarter. The dividend is scheduled to be paid on July 12, 2024, to shareholders on record as of the close of business on June 28, 2024. This represents a 3.3% increase from the dividend paid in the same quarter of the previous year.
The company, which operates under the name Franklin Templeton, offers a wide range of financial services including investment management expertise, wealth management, and technology solutions to a global clientele spanning over 150 countries. Franklin Templeton is known for its specialization across various asset classes, including equity, fixed income, alternative investments, and multi-asset solutions.
With a history spanning over 75 years, Franklin Resources has established a significant presence in the financial industry, supported by a network of more than 1,500 investment professionals in major financial hubs worldwide. As of April 30, 2024, the company reported managing assets worth more than $1.6 trillion.
InvestingPro Insights
Franklin Resources, Inc. [NYSE:BEN] has recently declared a consistent dividend, highlighting its commitment to shareholder returns. This move aligns with the company's impressive track record of maintaining dividend payments for 44 consecutive years, a testament to its stable financial performance and prudent capital management strategy.
InvestingPro Data reveals a market capitalization of $12.55 billion USD, further solidifying the firm's robust standing in the financial sector. The company's P/E ratio stands at 13.75, which suggests a higher valuation compared to near-term earnings growth, a point to consider for investors evaluating the stock's current pricing. Despite this, Franklin Templeton has managed to maintain a healthy dividend yield of 5.18%, offering an attractive incentive for income-focused investors.
An InvestingPro Tip points out that Franklin Resources is expected to remain profitable, with analysts predicting positive outcomes for the year. This is supported by the company's solid gross profit margin of 39.86% over the last twelve months as of Q1 2024, indicating efficient management and the ability to generate earnings above its operational costs.
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