T. Rowe Price raises dividend 23%, shares swing to gains

T. Rowe Value Workforce Inc. TROW, +zero.79% stated Tuesday it’s going to lift its quarterly dividend by way of 23% to 70 cents a percentage from 57 cents a percentage. The funding control corporate’s inventory swung to a achieve of zero.1% in noon business, after being down up to 1.6% previous within the consultation. The brand new dividend will likely be payable March 29 to shareholders of report on March 15. At present percentage costs, the brand new annual dividend fee implies a dividend yield of two.67%, above the implied S&P 500 SPX, +zero.31% dividend yield of one.92%, in line with FactSet. T. Rowe Value’s inventory has misplaced five.nine% to this point this month, however has rallied 12.four% during the last 3 months, whilst the S&P 500 SPX, +zero.31% has shed 6.2% in February however has received 2.four% the previous 3 months.

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