Franklin Universal Trust Plans Monthly Dividend of $0.04 (NYSE:FT)

Franklin Universal Trust (NYSE:FT – Get Rating) declared a monthly dividend on Friday, May 6th, Zacks reports. Stockholders of record on Monday, May 16th will be given a dividend of 0.043 per share by the financial services provider on Tuesday, May 31st. This represents a $0.52 annualized dividend and a dividend yield of 6.99%. The ex-dividend date is Friday, May 13th.

Franklin Universal Trust has increased its dividend by an average of 6.8% annually over the last three years and has raised its dividend every year for the last 1 years.

NYSE:FT traded up $0.02 during mid-day trading on Wednesday, hitting $7.39. 77,476 shares of the stock traded hands, compared to its average volume of 69,557. The firm’s 50-day moving average is $7.96. Franklin Universal Trust has a 12-month low of $7.36 and a 12-month high of $8.79.

A number of large investors have recently modified their holdings of the stock. LPL Financial LLC grew its stake in Franklin Universal Trust by 2.4% during the fourth quarter. LPL Financial LLC now owns 73,044 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 1,683 shares in the last quarter. Royal Bank of Canada grew its stake in Franklin Universal Trust by 3.0% in the 3rd quarter. Royal Bank of Canada now owns 79,060 shares of the financial services provider’s stock worth $641,000 after buying an additional 2,288 shares in the last quarter. Susquehanna International Group LLP grew its stake in Franklin Universal Trust by 23.2% in the 4th quarter. Susquehanna International Group LLP now owns 12,657 shares of the financial services provider’s stock worth $107,000 after buying an additional 2,387 shares in the last quarter. UBS Group AG grew its stake in Franklin Universal Trust by 10.9% in the 3rd quarter. UBS Group AG now owns 70,566 shares of the financial services provider’s stock worth $572,000 after buying an additional 6,926 shares in the last quarter. Finally, Morgan Stanley grew its stake in Franklin Universal Trust by 1.1% in the 2nd quarter. Morgan Stanley now owns 892,494 shares of the financial services provider’s stock worth $7,390,000 after buying an additional 9,541 shares in the last quarter.

About Franklin Universal Trust (Get Rating)

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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