12 Incredibly Cheap Dividend Stocks to Buy Now

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

Forward P/E Ratio as of March 14: 9.15

Franklin Resources, Inc. (NYSE:BEN) ranks ninth on our list of the best dividend stocks that are incredibly cheap. In fiscal Q1 2025, the company saw a 34% year-over-year rise in long-term inflows, excluding reinvested distributions. The company reported $17 billion in net inflows across equity, multi-asset, and alternative investments during the quarter. However, long-term net outflows reached $50 billion, excluding Western Asset Management. Despite this, the firm still achieved $18 billion in long-term net inflows across all asset classes.

In the past 12 months, Franklin Resources, Inc. (NYSE:BEN) has declined by nearly 28%, which reflects its historically volatile performance. Despite these challenges, the company has undergone notable transformations, including strategic acquisitions designed to enhance its services. A key move was last year’s purchase of volScout, an options-trading technology firm, which has bolstered its capabilities to better support both retail and institutional investors.

Franklin Resources, Inc. (NYSE:BEN) holds a very strong dividend history, having raised its payouts for 49 consecutive years. This means that BEN is just one year away from becoming a Dividend King. Currently, it offers a quarterly dividend of $0.32 per share and has a dividend yield of 6.56%, as of March 14.