By Colin Kellaher
T. Rowe Price Group's board has raised the quarterly dividend by 2.4%, to $1.27 from $1.24, marking the 39th straight year that the asset manager has boosted its payout.
The new dividend, equal to $5.08 a year, represents an annual yield of about 4.63% based on Monday's closing price of $109.62, up from 4.52%.
The increase maintains T. Rowe Price's spot in the S&P 500 Dividend Aristocrats Index, whose 69 members have paid a higher dividend for at least 25 straight years.
The Baltimore company on Tuesday said the increased dividend is payable March 28 to shareholders of record March 14.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 11, 2025 09:43 ET (14:43 GMT)
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