Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, raised its quarterly dividend 14 percent to 25 cents per share, its 30th straight year of boosting its payout to shareholders.
The board also authorized the company to buy back 10 million shares of common stock, the San Mateo, California-based company said today in a statement. Franklin’s shares fell 46 cents to $116.31 at 4:15 p.m. in New York Stock Exchange composite trading.
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