10 Best Debt Free Dividend Stocks to Invest in

3. T. Rowe Price Group, Inc. (NASDAQ:TROW)

Number of Hedge Fund Holders: 26

Market Cap as of December 7: $24.4 billion

Enterprise Value as of December 7: $21.5 billion

T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American asset management company that offers a wide range of products and services to its consumers. The company recently announced a 3.6% decrease in its assets under management in December, bringing the total to $1.61 trillion. This decline was driven by net outflows of $10.9 billion and a drop in equity markets. However, the company views this as a temporary setback and is actively exploring new opportunities.

In the fourth quarter of 2024, T. Rowe Price Group, Inc. (NASDAQ:TROW) reported revenue of $1.8 billion, which showed an 11.1% growth from the same period last year. The company’s operating expenses came in at over $1.25 billion, which showed a modest increase of 0.1% from the prior-year period. It is focusing on growing its ETF business and expanding into high-demand sectors like alternative investments. With no long-term debt on its balance sheet, the company has considerable flexibility to adapt and make strategic changes when needed. TROW is one of the best debt free stocks that pay dividends.

On February 11, T. Rowe Price Group, Inc. (NASDAQ:TROW) declared a 2.4% hike in its quarterly dividend to $1.27 per share. Through this increase, the company stretched its dividend growth streak to 39 years. In the most recent quarter, it returned $355 million to shareholders in dividends. As of February 11, the stock has a dividend yield of 4.55%.