Asset management company Franklin Resources Inc. (BEN) Thursday named Gregory Johnson as chairman of the board, in addition to his current role as president and CEO. Gregory Johnson replaces Charles B. Johnson, who retires, effective on the close of business on June 13.
Charles B. Johnson also retires as chairman, director/trustee and officer of certain US-registered Franklin and Templeton funds.
Additionally, the company's Board declared a 3-for-1 split of the common stock, to be paid in the form of a stock dividend, which is payable on July 25 to common stockholders of record July 12.
The company announced a quarterly cash dividend of $0.29 per share payable on July 8 to stockholders of record June 24. The dividend represents a 7% increase over last year.
Franklin Resources is an investment management organization operating as Franklin Templeton Investments.
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