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

Franklin Universal Trust (NYSE:FT) announced a monthly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.0425 per share by the financial services provider on Friday, May 31st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date is Thursday, May 16th.

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

Franklin Universal Trust Stock Performance

Franklin Universal Trust stock traded up $0.07 during midday trading on Thursday, reaching $6.83. 55,813 shares of the stock traded hands, compared to its average volume of 58,562. The company has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $6.51. Franklin Universal Trust has a 12-month low of $5.97 and a 12-month high of $7.06.

About Franklin Universal Trust

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.