Dividend Increase - T. Rowe Price Group, Inc. (TROW)

 

On Tuesday, February 11th the Board of Directors of T. Rowe Price Group, Inc. (TROW) announced a quarterly dividend increase of from $1.24 to $1.27 per share that’s payable March 28, 2025 to holders of record March 14, 2025. This represents a 2.42% increase over the last quarterly dividend. This will mark the 39th consecutive year since the firm's initial public offering that the company will have increased its regular annual dividend.

At the current price of $106.92 (yesterday's close), this increase will raise TROW's dividend yield to 4.75%.

T. Rowe Price Group is a Dividend Champions with a 39 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.6, 4.7, 10.3 and 10.9 (Dividend Champions.xls)

As an owner of 70 shares of TROW, the recent dividend increase adds $6.26 to my projected annual net dividend income.

The increase was the same as the last time and was in line with my expectations. There are also strong indications that the increases will continue at this level for the foreseeable future. However, an increase is always an increase and better than a cut.

This recent dividend increase marks the 10th consecutive raise I’ve received from T. Rowe Price Group since I acquired my first shares in April 2015. Over this time, the quarterly dividend has grown comfortably from $0.52 to $1.27 per share, representing a 144% increase.

TROW’s weight of my portfolio is about 0.97% and its share of future annual dividend income is approximately 1.05%.

Following this increase, my yield on cost is 5.79%.

Summary of 2025 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long TROW

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