Franklin Universal Trust (NYSE:FT) announced a monthly dividend on Monday, September 21st, Wall Street Journal reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.032 per share by the financial services provider on Thursday, October 15th. This represents a $0.38 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend is Tuesday, September 29th.
Franklin Universal Trust has decreased its dividend by 11.7% over the last three years and has increased its dividend every year for the last 1 years.
Shares of FT stock opened at $6.92 on Wednesday. Franklin Universal Trust has a 1-year low of $4.65 and a 1-year high of $8.31. The business has a 50-day moving average of $7.02 and a 200 day moving average of $6.67.
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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