Franklin Resources dividend growth keeps slowing with a 3.4% hike for 2023
On December 13, 2022, Dividend Aristocrat Franklin Resources (trading symbol BEN) announced a 3.4% dividend hike to 30 cents per share. The investment management company has now increased its dividend 42 years in a row, but dividend growth is slowing with the smallest hike in many years.
Franklin Resources has raised its dividend every year since 1981 and is a Dividend Aristocrat. However the dividend growth is slowing since 2018 when BEN last announced a double digit dividend hike (see below). The last four years dividend growth has slowed every year with the smallest increase in more than a decade announced on December 13, 2022.
FRANKLIN RESOURCES DIVIDEND HISTORY
- 2022: 3.4% dividend hike announced
- 2021: 3.6% dividend hike
- 2020: 3.7% dividend hike
- 2019: 3.8% dividend hike
- 2018: 13.0% dividend hike
Last year Franklin Resources hiked its dividend by 3.6 percent with dividend growth slowing since 2019. This actually is the smallest increase by BEN in more than a decade. The last double digit dividend hike dates back to 2018 with a 13 percent increase. The company now pays an estimated $599 million in dividends to shareholders annually.
Other Dividend Aristocrats announcing a dividend increase recently are Pentair (+4.8%) and Nucor (+2.0%). The dividend yield for Franklin Resources is 4.7% at a stock price of $25.74. The next dividend of 30 cents will be paid on January 13, 2022 with an ex-dividend date of December 29, 2022.
Franklin Resources is an investment management organization operating as Franklin Templeton Investments. The company provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world. The Company offers its investment products and services under the Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2 and LibertyShares brand names.