T. Rowe Price As of July 20, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
TROW $4.32 20.0% 18.4% 8.6%
Business yield Hike yrs 5 yr CAGR freq. paid since
Financial Services 2.1% 35 14.9% Quarter 1986
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T. Rowe Price pays special dividend

Dividend Aristocrat T. Rowe Price Group (TROW) will pay a special cash dividend of $3.00 per share in 2021. This comes after a dividend hike of 20 percent to $1.08 per share quarterly announced by the financial services company earlier in 2021. This follows a dividend hike of 18.4 percent to 90 cents per share announced in 2020. The year 2021 also marks the 35th consecutive year of dividend increases by the global investment management organization. 

The $3.00 per share special dividend is payable on July 7, 2021 to stockholders of record as of the close of business on June 25, 2021. The regular annual dividend rate of $4.32 per share yields 2.2% at a stock price of $195.

William J. Stromberg, the company's chair and chief executive officer, commented: "This special cash dividend is an efficient return of capital to our stockholders and reflects the healthy cash position on our balance sheet. After the special dividend payment, the company's balance sheet will remain very strong, with ample liquidity to continue to execute on our business strategy. In addition, we believe that the payment of the special cash dividend will not have a material impact on the company's ability to meet its ongoing financial needs, continue our outstanding dividend record for the foreseeable future, or maintain a buffer against market volatility."

T. Rowe Price Group pays shareholders an estimated total dividend of $978 million annually. The average dividend growth rate in the last five years is 14.9 percent if the 2021 dividend hike is included.

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.

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Ex-date Ticker Yield YTD hike
Jul 26 FAST 2.1% 12.0%
Jul 26 BK 2.8% 9.7%
Jul 26 COO 0.0% 0.0%
Jul 27 CLX 2.5% 4.5%
Jul 28 MMC 1.5% 15.1%
Jul 28 FRC 0.5% 10.0%
Jul 29 COST 0.8% 12.9%
Jul 29 PFE 3.8% 0.0%
Jul 29 CFG 3.7% 0.0%
Jul 29 LNT 2.8% 5.9%