Franklin Universal Trust (NYSE:FT) had declared a cash dividend of $0.0320 on Sep 19, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed for Sep 30, 2016. On Sep 19, 2016 share price, the yield comes out to be 5.7143%. The dividend payable date has been fixed on Oct 14, 2016.
Franklin Universal Trust (FT) made into the market gainers list on Thursdays trading session with the shares advancing 0.66% or 0.045 points. Due to strong positive momentum, the stock ended at $6.9, which is also near the day’s high of $6.9. The stock began the session at $6.9 and the volume stood at 41,647 shares. The 52-week high of the shares is $7.05 and the 52 week low is $5.13. The company has a current market capitalization of $191 M and it has 2,76,15,000 shares in outstanding.
Franklin Universal Trust (the Fund) is a closed-end management investment company. The Funds primary investment objective is to provide high current income consistent with preservation of capital. Its secondary objective is growth of income through dividend increases and capital appreciation. The Fund invests primarily in two asset classes: high-yield bonds and utility stocks. The Fund invests in sectors such as non-energy minerals utilities commercial services communications consumer durables consumer non-durables electronic technology industrial services process industries technology services and transportation. The Fund invests in the Franklin Institutional Fiduciary Trust Money Market Portfolio (the Sweep Money Fund) an open-end investment company managed by its investment manager. The Fund also invests in restricted securities. The Funds investment manager is Franklin Advisers Inc. Its administrative manager is Franklin Templeton Services LLC.