Franklin Universal Trust (FT) to Issue Monthly Dividend of $0.04 on April 30th

Franklin Universal Trust (NYSE:FT) declared a monthly dividend on Friday, April 5th, Wall Street Journal reports. Investors of record on Wednesday, April 17th will be paid a dividend of 0.0425 per share by the financial services provider on Tuesday, April 30th. This represents a $0.51 annualized dividend and a yield of 7.85%. The ex-dividend date of this dividend is Tuesday, April 16th.

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

Franklin Universal Trust Price Performance

NYSE FT opened at $6.50 on Friday. Franklin Universal Trust has a 12 month low of $5.97 and a 12 month high of $7.19. The stock’s 50 day moving average is $6.53 and its 200 day moving average is $6.48.

Hedge Funds Weigh In On Franklin Universal Trust

Several institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC grew its holdings in Franklin Universal Trust by 15.8% during the 1st quarter. NewEdge Advisors LLC now owns 16,100 shares of the financial services provider’s stock valued at $130,000 after buying an additional 2,200 shares in the last quarter. Raymond James & Associates boosted its position in shares of Franklin Universal Trust by 7.6% during the 4th quarter. Raymond James & Associates now owns 35,565 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 2,524 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Franklin Universal Trust by 19.7% in the first quarter. Cetera Investment Advisers now owns 16,672 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 2,743 shares in the last quarter. Wells Fargo & Company MN increased its position in Franklin Universal Trust by 0.8% in the second quarter. Wells Fargo & Company MN now owns 496,095 shares of the financial services provider’s stock worth $3,696,000 after purchasing an additional 3,759 shares during the last quarter. Finally, UBS Group AG raised its stake in Franklin Universal Trust by 4.6% during the third quarter. UBS Group AG now owns 107,501 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 4,736 shares in the last quarter.

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.