Dividend Aristocrat T. Rowe Price Group (TROW) will raise its dividend by 11.1 percent to $1.20 per share quarterly in 2022. Last year TROW also paid a special cash dividend of $3.00 per share after a dividend hike of 20 percent to $1.08 per share quarterly was announced by the financial services company earlier in 2021. This new hike just announced also marks the 36th consecutive year of dividend increases by the global investment management organization. 

The regular annual dividend rate of $4.80 per share for TROW yields 3.9% at a stock price of $123.74. T. Rowe Price Group pays shareholders an estimated total dividend of $1.08 billion annually. The average dividend growth rate in the last five years jumps to 16.1 percent if the 2022 dividend hike is included.

T. Rowe Price Group, Inc. is a financial services holding company. The company provides global investment management services through its subsidiaries to investors across the world. The organization provides mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. The company was founded in 1937 and is based in Baltimore and has raised its dividend every year since its initial public offering in 1986.