Franklin Resources, Inc. Announces Quarterly Dividend and Addition to Stock Repurchase Program

Rhea-AI Summary

Franklin Resources, Inc. (NYSE:BEN) announced a 3.3% increase in its quarterly cash dividend to $0.31 per share, payable on January 12, 2024. The company has consistently raised its dividend every year since 1981 and has authorized the repurchase of up to 27.2 million additional shares of its common stock.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Franklin Resources, Inc. (the “Company”) [NYSE:BEN] announced a quarterly cash dividend in the amount of $0.31 per share payable on January 12, 2024 to stockholders of record holding shares of common stock at the close of business on January 3, 2024. The quarterly dividend of $0.31 per share represents a 3.3% increase over the dividends paid for the prior quarter and the same quarter last year. The Company has raised its dividend every year since 1981.

Furthermore, the Company’s Board of Directors has authorized the Company to repurchase, from time to time, up to an additional 27.2 million shares of its common stock in either open market or private transactions, for a total of up to 40.0 million shares available for repurchase. The new share authorization is in addition to the existing authorization, of which approximately 12.8 million shares remained available for repurchase at November 30, 2023. The size and timing of these purchases will depend on price, market and business conditions and other factors. The stock repurchase program is not subject to an expiration date. Shares repurchased under the stock repurchase program are retired.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the Company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.4 trillion in assets under management as of November 30, 2023. For more information, please visit franklinresources.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231212510768/en/

Franklin Resources, Inc.

Investor Relations: Selene Oh (650) 312-4091, selene.oh@franklintempleton.com

Media Relations: Matt Walsh (650) 312-2245, matthew.walsh@franklintempleton.com

investors.franklinresources.com

Source: Franklin Resources, Inc.

FAQ

What is the ticker symbol for Franklin Resources, Inc.?

The ticker symbol for Franklin Resources, Inc. is BEN.

How much is the quarterly cash dividend announced by Franklin Resources, Inc.?

Franklin Resources, Inc. announced a quarterly cash dividend of $0.31 per share.

When is the quarterly cash dividend payable to stockholders of Franklin Resources, Inc.?

The quarterly cash dividend is payable on January 12, 2024, to stockholders of record holding shares of common stock at the close of business on January 3, 2024.

How many additional shares of its common stock has Franklin Resources, Inc. authorized for repurchase?

Franklin Resources, Inc. has authorized the repurchase of up to 27.2 million additional shares of its common stock.

Has Franklin Resources, Inc. consistently raised its dividend?

Yes, the company has raised its dividend every year since 1981.