Topic: How To Invest

Dividend Advisor Hotline – Friday, June 18, 2021

Article Excerpt

T. ROWE PRICE GROUP INC., $190.02, Nasdaq symbol TROW, is a buy. The company sells mutual funds and wealth management services. T. Rowe Price’s fee income rises with the value of the mutual funds and other securities it manages. Thanks to the strong stock-market rebound since March 2020, its assets under management as of May 31, 2021, were $1.59 trillion, up 34.3% from $1.19 trillion a year earlier. Thanks to its stronger revenue, T. Rowe Price will pay investors a special dividend of $3.00 a share on July 7, 2021. That’s in addition to its regular dividend. In March 2021, the company raised your quarterly payment by 20.0%, to $1.08 a share from $0.90. The new annual rate of $4.32 yields 2.3%. T. Rowe Price has increased its dividend each year for the past 35 years. Over the past five years, that dividend rose by an average 15.7% annually. The company’s TSI Dividend Sustainability Rating is Above Average. T. Rowe Price recent coverage: May 2021 issue …

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