T. Rowe Price ups dividend for 31st consecutive year

T. Rowe Price Group (TROW) will raise its dividend by 5.6%.

Dividend Aristocrat T. Rowe Price Group will increase its quarterly dividend to $0.57 per share, marking 31 consecutive years of dividend increases.

The increased dividend will be payable March 30, 2017 to stockholders of record as of the close of business on March 16, 2017.

Based on a stock price of $70.80 the new dividend yield for TROW is 3.2%.

T. Rowe Price is one of the Dividend Aristocrats

T. Rowe Price Group, Inc. is a financial services holding company. The company provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. TROW also offers sophisticated investment planning and guidance tools.