T.Rowe Price Announces Special Dividend, Raises Regular Dividend

T. Rowe Price Group Inc. said Thursday it is raising its regular dividend and paying a one-time special dividend to return more of its cash to shareholders. The investment company said it is raising its regular quarterly dividend by 18% to 52 cents a share from 44 cents, with the first new payment to be payable March 30 to shareholders of record as of close of business March 16. The company will also pay a special cash dividend of $2 a share April 23 to shareholders of record as of close of business April 9. Shares were up 1.1@ and are up 0.8% in the last three months, while the S&P 500 has gained 2.6%.