Dividend Champions List: Top 15

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

Dividend Yield as of September 24: 5.89%

An American multinational asset management company, Franklin Resources, Inc. (NYSE:BEN) ranks seventh on our dividend champions list. The company reported mixed results in fiscal Q3 2024. Its revenue of $2.1 billion fell slightly by 1% on a YoY basis. However, the company’s operating income surged by 72% to $222.5 million compared to the same period last year. Its cash position remained strong, with $6.8 billion in total cash and investments by the end of the quarter. The company has greatly benefited from its acquisitions, gaining cost efficiencies and expanding its customer base. The acquisition of Putnam Investments in January notably boosted its investment capabilities, contributing to strong investment performance.

As of August 31, 2024, Franklin Resources, Inc. (NYSE:BEN) reported preliminary assets under management totaling $1.68 trillion, a 1.1% rise from $1.66 trillion on July 31, 2024. This growth was mainly driven by positive market conditions, though it was partially offset by long-term net outflows.

What sets Franklin Resources, Inc. (NYSE:BEN) apart from its peers is its strong dividend history. The company has consistently demonstrated a commitment to rewarding shareholders through regular dividend payments. In the most recent quarter, it returned $168 million to shareholders through dividends. Moreover, the company has raised its payouts for 48 years in a row. Its trailing twelve-month dividend amount jumped $656 million in the most recent quarter, from $610 million in the same period last year. Its quarterly dividend comes in at $0.31 per share and has a dividend yield of 5.89%, as of September 24.

At the end of June 2024, 27 hedge funds owned stakes in Franklin Resources, Inc. (NYSE:BEN), down from 31 in the preceding quarter. These stakes have a total value of $323 million.