Dividend Achievers List: Top 15

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

Dividend Yield as of September 22: 5.96%

Franklin Resources, Inc. (NYSE:BEN) is an American multinational asset management company, headquartered in California. The company offers a wide range of investment solutions and services. The company reported preliminary assets under management of $1.68 trillion as of August 31, 2024, marking a 1.1% increase from $1.66 trillion on July 31, 2024. The monthly growth was primarily attributed to favorable market conditions, although it was somewhat tempered by long-term net outflows.

In fiscal Q3 2024, Franklin Resources, Inc. (NYSE:BEN) reported revenue of $2.1 billion, which fell by 1% on a YoY basis. However, the company’s operating income of $222.5 million jumped significantly by 72% from the same period last year. Its cash position was also strong with $6.8 billion available in total cash and investments at the end of the quarter. The company significantly benefits from its acquisitions, gaining cost efficiencies and expanding its customer base through these strategic actions. The January acquisition of Putnam Investments, in particular, enhanced the company’s investment capabilities, which has been reflected in strong investment performance.

Franklin Resources, Inc. (NYSE:BEN) is a Dividend Achiever with 48 years of consistent dividend growth. The company has been distributing millions to shareholders every quarter. Its trailing twelve-month dividend amount jumped $656 million in the most recent quarter, from $610 million in the same period last year. In fiscal Q3 2024, the company returned $168 million to shareholders through dividends. It currently offers a quarterly dividend of $0.31 per share and has a dividend yield of 5.96%, as of September 22.

At the end of the second quarter of 2024, 27 hedge funds in Insider Monkey’s database owned stakes in Franklin Resources, Inc. (NYSE:BEN), compared with 31 in the previous quarter. These stakes have a collective value of $323 million.