Dividend Aristocrats: Top 7 Companies by Yield for November 2024

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

Dividend Yield as of November 26: 5.46%

Franklin Resources, Inc. (NYSE:BEN) ranks second on our list of the best dividend aristocrat stocks. The American multinational asset management company offers a wide range of related services and products to shareholders. The stock has dropped more than 27% since the beginning of 2024, which isn’t entirely unexpected given its inconsistent past performance. However, the company has evolved significantly over time. Through strategic acquisitions, such as last year’s purchase of the options-trading technology firm volScout, this mutual fund leader is now better positioned to meet the growing demands of both individual and institutional investors.

In the fourth quarter of 2024, Franklin Resources, Inc. (NYSE:BEN) reported revenue of $2.21 billion, which showed an 11.3% growth from the same period last year. The company achieved a record in assets under management (AUM), reaching $1.68 trillion, and experienced a 25% increase in long-term inflows, totaling $319 billion compared to the previous year. However, long-term net outflows amounted to $32.6 billion, which included $20.7 billion in reinvested distributions.

Franklin Resources, Inc. (NYSE:BEN) currently offers a quarterly dividend of $0.31 per share. The company has always remained committed to its shareholder obligation, as it returned $946 million to investors through dividends and share repurchases in the most recent quarter. Moreover, it has been growing its dividends consistently for the past 48 years. With a dividend yield of 5.46% as of November 26, BEN is one of the best dividend aristocrat stocks on our list.

As of the close of Q3 2024, 26 hedge funds tracked by Insider Monkey held stakes in Franklin Resources, Inc. (NYSE:BEN), compared with 27 in the preceding quarter. These stakes have a collective value of over $272.6 million. Cliff Asness, Israel Englander, and Paul Tudor Jones were some of the company’s most prominent stakeholders in Q3.