Franklin Resources Raises Quarterly Dividend by 14% to 25 Cents

Dec. 16 (Bloomberg) -- 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.

To contact the reporter on this story: Sree Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net