The Dividend Daily

Before the bell on Friday investment management company Franklin Resources Inc (BEN), doing business as Franklin Templeton Investments, reported an increase to its first quarter profit, helped by +12% higher revenue.

The San Mateo, California-based company said that its first quarter net income increased to $516.1 million, or $2.42 per share, from $480.8 million, or $2.20 per share, earned in the same period a year earlier. On average, analysts were expecting earnings to be $2.38 per share, according to Thomson Reuters.

Revenue was up +12% for the quarter, coming in at $1.90 billion from $1.70 billion a year earlier. Analysts were expecting revenue to be $1.90 billion.

The company’s total assets under management also increase in the quarter, up +4% from $749.9 billion last year to $781.8 billion.

Franklin Resources shares were down slightly during morning trading on Friday. The stock is up +21.75% over the past year.

The Bottom Line
Shares of Franklin Resources (BEN) have a dividend yield of 0.85% based on last night’s closing price of $136.88.

Franklin Resources, Inc. (BEN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

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