Franklin Resources (BEN) Declares $0.18 Quarterly Dividend; Adds 50M Shares to Stock Buyback Program

Franklin Resources (NYSE: BEN) declared a quarterly dividend of $0.18 per share, or $0.72 annualized.

The dividend will be payable on July 15, 2016, to stockholders of record on June 30, 2016, with an ex-dividend date of June 28, 2016.

The annual yield on the dividend is 2.2 percent.

Furthermore, the company's Board of Directors authorized the company to purchase, from time to time, up to an additional 50.0 million shares of its common stock in either open market or off-market transactions. The size and timing of these purchases will depend on price, market and business conditions and other factors. The stock repurchase program is not subject to an expiration date. The new board authorization is in addition to the existing authorization, of which approximately 12.6 million shares remained available for repurchase at May 31, 2016. The company repurchased approximately 24.6 million shares during the period October 1, 2015 to May 31, 2016. Shares repurchased under the program are retired.

For a dividend history and other dividend-related data on Franklin Resources (BEN) click here.

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