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Rating:Franklin Could Buy Back 13.8 Million Shares Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 17, 2009

Franklin Could Buy Back 13.8 Million Shares

by: Neil Anderson, Managing Editor

Franklin Templeton parent Franklin Resources' board of directors seems to think its stock is a good bargain. The board authorized the fund firm to buy back up to 10.0 million shares of its common stock, in addition to the 3.8 million shares remaining for purchase under previous authorizations. Franklin's stock closed at $46.37 on Monday, with a market cap of $10.8 billion -- that would put the total potential buyback at Franklin's fingertips at almost $640 billion. 

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