Dividend Champions List: Top 15

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

Dividend Yield as of September 24: 4.53%

T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American asset management company that offers a wide range of related services to institutions, individuals, and businesses. In August, the company reported that its assets under management grew to $1.61 trillion, from $1.59 trillion at the end of July. Its net outflows for the month of August were $5.3 billion. Although continued outflows are anticipated in the second half of the year, there is optimism for improvement driven by increased sales and fewer redemptions.

Earlier this year, T. Rowe Price Group, Inc. (NASDAQ:TROW) revealed its shift towards corporate debt from countries such as the Philippines, Brazil, and Mexico as it enters the new year while steering away from the more unpredictable frontier-market bonds that performed well in 2023. Samy Muaddi, who oversees the firm’s $25 billion emerging-market debt strategy, explained that this approach allows investments in companies from more stable nations, especially as the surge in high-risk government bonds begins to taper off. He prefers bonds from commodity producers, utilities, and banks in key developing markets that either generate US dollars or are adept at managing currency risks.

T. Rowe Price Group, Inc. (NASDAQ:TROW) offers a quarterly dividend of $1.24 per share and has a dividend yield of 4.53%, as of September 24. It is one of the best stocks on our dividend champions list as the company has raised its payouts for 38 consecutive years. In Q2 2024, the company returned $396 million to shareholders through dividends and share repurchases.

As per Insider Monkey’s database of Q2 2024, 28 hedge funds owned stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), growing from 24 in the previous quarter. These stakes have a total value of nearly $500 million.