Franklin Resources raises dividend for 37th straight year

Dividend Aristocrat Franklin Resources (BEN) will raise its dividend for the 37th consective year in 2018.
The investment management company will increase its quarterly dividend by 15 percent to $0.23 per share in the fourth quarter of 2017.

The increased dividend is payable on January 10, 2018 to stockholders of record holding shares of common stock at the close of business on December 26, 2017. The new dividend yield for BEN is 2.1%. The company has raised its dividend every year since 1981.

Dividend Aristocrat Franklin Resources has gained 10.9 percent in 2017

Last year Franklin Resources increased its dividend for the 36th consecutive year. In 2017 the stock has gained 10.9 percent at a current price of $43.91. BEN currently has a $24.3 billion market cap.

Just one analyst rates the stock a buy, with currently 8 'hold' recommendations and 4 analysts recommending 'sell'. The average analyst stock price target for Franklin Resources is $44.88, which is about 2 percent above Friday's closing price.

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.