10 Best Dividend Aristocrats with Over 3% Yield

3. Franklin Resources, Inc. (NYSE:BEN)

Dividend Yield as of July 17: 5.16%

Franklin Resources, Inc. (NYSE:BEN) is an American multinational asset management company that offers a wide range of investment solutions and services. The company gains substantial advantages from its acquisitions. Through these strategic moves, it achieves cost efficiencies and expands its customer base. The January acquisition of Putnam Investments notably boosted the company’s investment capabilities, highlighted by impressive investment performance. This deal also expanded the company’s influence in essential insurance and retirement markets, raising its assets under management (AUM) in this area to over $650 billion.

Overall, Franklin Resources, Inc. (NYSE:BEN) reported a 0.7% hike in its assets under management (AUM) in June to $1.65 trillion due to positive markets and flat long-term net inflows. In fiscal Q2 2024, the company reported operating revenues of $2.1 billion, which showed a 12% growth from the same period last year. Not only this, the revenue also beat analysts’ expectations by over $96 million. The company’s cash position provides a welcome relief for income investors. In the most recent quarter, it returned $169 million to shareholders through dividends.

Franklin Resources, Inc. (NYSE:BEN) pays a quarterly dividend of $0.31 per share for a dividend yield of 5.16%, as of July 17. It is one of the best dividend aristocrat stocks as the company maintains a 48-year streak of consistent dividend growth.

The number of hedge funds tracked by Insider Monkey owning stakes in Franklin Resources, Inc. (NYSE:BEN) jumped to 31 in Q1 2024, from 26 in the previous quarter. The total value of these stakes is nearly $200 million. Israel Englander and Cliff Asness were the company’s most prominent investors in Q1.