Greg's Dad Charlie thought it was time to raise his allowance, up 47% to $9.9mill.. Although the stock price is down over $30 from an all time high, and down about 15% over the last 5 years he gets $9.9mill of our money. I guess that is why they buy back shares instead of increasing the dividend, because all the shares they issue themselves. AUM, Assets Under Management, DECREASED year over year (calender)from $670.7bill to $670.3bil, yet his Dad thought he deserved a raise! Since BEN is a Publicly traded company it is about time they start increasing shareholder value instead of just taking care of the Family.
I agree it WAS one of the best performing stocks in the 90's, and up to about 5 years ago. Since then it has gone down. Today's announcement mentions that they bought back 3 million shares " returning a substantial portion of the Company's earnings to stockholders through the payment of dividends and common stock repurchases". You have to work through the numbers to find out that shares only decreased 1.8 million shares because they award themselves so much stock. I have no problem with that if the company and stock are performing well but that has not been the case for 5 years. If they used the money ( $1.38 per share )from JUST those 4th qtr buy backs to increase the regular div then the yield on the stock would be more than double where it is now.