Franklin dividend: pay, cash flow and yield
MyStockButler's October 2026 analysis: Franklin's latest declared quarterly dividend was $0.33. Recent operating cash flow did not cover dividends.
How much does Franklin pay per share over time?
Base dividends per share rise from $1.36 to $1.40 and then $1.44. Bear dividends fall from $1.32 to $1.20 and stay there. Bull dividends rise from $1.40 to $1.48 and then $1.56.
| Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 0.91 | 0.85 | 1.72 | 2.53 | 3.57 |
| Real free cash flow per share | 1.35 | 1.07 | 1.54 | 3.39 | 2.03 |
| Free cash flow per share | 1.76 | 1.56 | 1.92 | 3.81 | 2.38 |
| − Dividends paid, per share | 1.32 | 1.29 | 1.24 | 1.19 | 1.14 |
| Stock pay per share | 0.42 | 0.48 | 0.37 | 0.43 | 0.35 |
| Book value per share | 23.18 | 23.89 | 24.03 | 22.97 | 22.37 |
What this means. Free cash flow per share is higher than real free cash flow per share because it does not subtract shares given to employees as pay.
How much would Franklin's dividend pay you?
$10,000 invested in Franklin at its 4.2% dividend yield (our report of October 24, 2026) pays $420.00 in the first year, before tax. If its dividend per share keeps changing 3.7% a year, as it did from Sep 2021 to Sep 2025, and the dividends are reinvested, year 10 pays $897.19, with $6,256.84 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Does Franklin's cash cover its dividend?
Free cash flow is the cash left after operating needs and capital expenditure under the measure used below. Across fiscal 2021–2025, dividends absorbed more than half of that cash. The pattern tightened in fiscal 2025, when dividends left comparatively little before acquisitions, repurchases, and other investments.
The base is slower than Franklin’s historical increases because recent operating cash flow did not cover dividends. The latest declared quarterly dividend was $0.33, supporting the first-year base and bear assumptions.
| Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 911.6 | 794.2 | 940.4 | 1,866.4 | 1,166.1 |
| − Dividends paid | 683.7 | 656.4 | 607.3 | 583.1 | 559.7 |
| − Acquisitions | 97.3 | 382.6 | 749.9 | 1,369.5 | 9.0 |
| − Investments bought | 7,576.1 | 7,437.7 | 5,121.9 | 4,918.1 | 4,425.1 |
| + Investments sold or matured | 5,694.8 | 5,657.5 | 2,442.7 | 2,975.2 | 2,218.2 |
| Cash and short-term investments | 3,583.1 | 4,418.7 | 4,412.3 | 4,791.9 | 4,660.4 |
What this means. Net debt includes borrowing and cash tied to investment products that cannot pay the company's own bills, so it does not show only the debt the company must repay itself.
What could change Franklin's dividend?
The base assumes positive external flows, gradual alternatives conversion and savings that improve margins without fully reaching management’s operating target. External flows turned positive through June 2026, while management expected an adjusted operating margin near 30%. The bear reflects Western Asset’s $1.1 billion quarterly outflow and lower fee yield. The bull requires Western to stabilize and alternatives to convert quickly into fee-paying assets.
What is Franklin's dividend yield today?
The dividend leaves only a modest cushion. A 4.2% dividend yield means about $4.20 paid to shareholders from every $100 invested, leaving roughly $1.60 for reinvestment, debt repayment, or repurchases. Franklin’s separately calculated “real” free cash flow yield is 4.4%, but that is not a universal measure; its formula must be shown before treating it as definitive.
| Today (Oct 24, 2026) | |
|---|---|
| Share price | 31.06 |
| Free cash flow yield (calculated) | 5.8% |
| Real free cash flow yield (calculated) | 4.4% |
| Dividend yield (calculated) | 4.2% |
What this means. Enterprise value is higher than market value because it also includes the company's debt and subtracts its cash.