T. Rowe Price Hikes Dividend

BALTIMORE, Dec. 14 /PRNewswire-FirstCall/ — T. Rowe Price Group, Inc. (Nasdaq: TROW) announced today that its Board of Directors declared a quarterly dividend of $0.17 per share payable January 12, 2007 to stockholders of record on December 29, 2006, and as planned, formally elected James A.C. Kennedy as president and chief executive officer of the firm. Also as planned, the Board of Directors elected Brian C. Rogers chairman of the board and Edward C. Bernard vice chairman. The election of Messrs. Kennedy, Rogers, and Bernard becomes effective on January 1, 2007 following the retirement of Chairman and President George A. Roche on December 31, 2006.
The quarterly dividend represents a 21% increase over the previous quarterly dividend rate of $0.14 per share. T. Rowe Price has raised its dividend every year since becoming a public company in 1986.

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