Updating your Income stocks: T. Rowe Price Group Inc., Pfizer Inc. and Ameren Corp.

Article Excerpt

T. ROWE PRICE GROUP INC. $127 (www.troweprice.com) is a buy. This leading seller of mutual funds and wealth management services will now raise your quarterly dividend 18.4%. With the March 2020 payment, investors will receive $0.90 a share instead of $0.76. The new annual rate of $3.60 yields a solid 2.8%. T. Rowe Price’s fee income rises with the value of the mutual funds and other securities it manages. As of January 31, 2020, it managed $1.21 trillion in assets—up 16.7% from a year earlier; that reflects the generally strong performance of U.S. stocks. PFIZER INC. $35 (www.pfizer.com) is a buy. Starting with the March 2020 payment, the drugmaker will increase its quarterly dividend for investors by 5.6%, to $0.38 a share from $0.36. The new annual rate of $1.52 offers you a high 4.3% yield. The company has now raised the annual dividend rate each year since 2011. Meantime, Pfizer continues to spend a high 17% of its revenue on research, which depresses its earnings…

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