T. Rowe Price Group (TROW) will raise its quarterly dividend by 5.6 percent to $0.57 per share. The dividend will be paid on March 30, 2017 to stockholders of record as of the close of business on March 16, 2017.

This will mark the 31st consecutive year since the firm's initial public offering that the company will have increased its regular annual dividend.

T. Rowe Price Group, Inc. is a financial services holding company. The company provides global investment management services through its subsidiaries to investors across the world. The organization provides 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. The company was founded in 1937 and is based in Baltimore and has raised its dividend every year since its initial public offering in 1986.