Franklin Universal Trust (FT) to Issue Monthly Dividend of $0.04 on August 31st

Posted by on Aug 9th, 2023

Franklin Universal Trust (NYSE:FT – Get Free Report) announced a monthly dividend on Monday, August 7th, Wall Street Journal reports. Stockholders of record on Thursday, August 17th will be paid a dividend of 0.0425 per share by the financial services provider on Thursday, August 31st. This represents a $0.51 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Wednesday, August 16th.

Franklin Universal Trust has increased its dividend payment by an average of 9.9% per year over the last three years.

Franklin Universal Trust Stock Performance

Shares of NYSE:FT opened at $6.88 on Wednesday. Franklin Universal Trust has a 52-week low of $6.13 and a 52-week high of $8.10. The stock’s fifty day simple moving average is $6.82 and its 200-day simple moving average is $6.91.

Hedge Funds Weigh In On Franklin Universal Trust

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Franklin Universal Trust by 0.8% during the second quarter. Wells Fargo & Company MN now owns 496,095 shares of the financial services provider’s stock worth $3,696,000 after buying an additional 3,759 shares during the period. LPL Financial LLC lifted its position in Franklin Universal Trust by 22.0% during the first quarter. LPL Financial LLC now owns 135,388 shares of the financial services provider’s stock worth $965,000 after buying an additional 24,397 shares during the period. UBS Group AG lifted its position in Franklin Universal Trust by 19.0% during the first quarter. UBS Group AG now owns 96,278 shares of the financial services provider’s stock worth $780,000 after buying an additional 15,368 shares during the period. Raymond James & Associates increased its stake in Franklin Universal Trust by 7.6% during the fourth quarter. Raymond James & Associates now owns 35,565 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 2,524 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Franklin Universal Trust during the third quarter worth about $179,000.

Franklin Universal Trust Company Profile

(Get Free Report)

Franklin Universal Trust is a closed-ended balanced mutual fund launched by Franklin Resources, Inc The fund is managed by Franklin Advisers, Inc It invests in the public equity and fixed income markets of the United States. The fund invests in companies operating in utility sector. It employs fundamental analysis to invest in a diversified portfolio of corporate bonds and dividend paying utility stocks.

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Dividend History for Franklin Universal Trust (NYSE:FT)

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