T. Rowe Price Group raises dividend for 34th consecutive year

Dividend Aristocrat T. Rowe Price Group (TROW) will increase its quarterly dividend by 18.4 percent to 90 cents per share.

This marks the 34th consecutive year of dividend increases by the global investment management organization. Last year upped its dividend by 8.6 percent.

The quarterly dividend of $0.90 per share is payable March 30, 2020 to stockholders of record as of the close of business on March 16, 2020. The quarterly dividend rate represents a 18.4% increase over the previous quarterly dividend rate of $0.76 per share. This will mark the 34th consecutive year since the firm's initial public offering that the company will have increased its regular annual dividend.

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. (troweprice.com), is a global investment management organization with $1.21 trillion in assets under management as of January 31, 2020. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.