Dividend Aristocrats Ranked By Yield: Top 10

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

Dividend Yield as of June 25: 5.41%

Franklin Resources, Inc. (NYSE:BEN) ranks third on our list of the best dividend aristocrat stocks with high yields. The American multinational asset management company reported growth in its assets under management (AUM) in May to $1.64 trillion, from $1.60 trillion in April. This figure also showed a growth from $1.4 trillion AUM reported during the same period last year. The company attributed this growth to positive market conditions. In addition to its AUM, the company also reported $6.9 billion in long-term net inflows, with its three largest alternative managers contributing a combined total of $1.4 billion in net inflows during fiscal Q2 2024.

Franklin Resources, Inc. (NYSE:BEN) strategically leverages acquisitions to expand its scale, thereby achieving cost efficiencies and broadening its customer base. In the most recent quarter, the company’s efforts to deepen client relationships and diversify its firm have yielded positive results, with contributions seen across asset classes, investment vehicles, and geographical regions. the acquisition of Putnam Investments in January enhanced the company’s investment capabilities significantly, marked by strong investment performance. This transaction also strengthened its presence in critical insurance and retirement channels, increasing its AUM in this segment to over $650 billion.

Franklin Resources, Inc. (NYSE:BEN) is one of the best dividend aristocrat stocks on our list with 48 consecutive years of dividend growth under its belt. The company currently pays a quarterly dividend of $0.31 per share and has a dividend yield of 5.41%, as reported on June 25.

The number of hedge funds tracked by Insider Monkey owning stakes in Franklin Resources, Inc. (NYSE:BEN) grew to 31 in Q1 2024, from 26 in the previous quarter. The consolidated value of these stakes is roughly $200 million. Among these hedge funds, Fairfax Financial Holdings was the company’s leading stakeholder, owning 1 million BEN shares.