BALTIMORE, Sept. 9 /PRNewswire-FirstCall/ -- T. Rowe Price Group, Inc.
(Nasdaq: TROW) announced today that its Board of Directors has declared a
quarterly dividend of $0.19 per share payable October 8, 2004 to stockholders
of record as of the close of business on September 27, 2004.
The Board of Directors also elected J. Alfred Broaddus, Jr. an independent
director of the Company. Mr. Broaddus is a former president of the Federal
Reserve Bank of Richmond, from which he retired last month, and is a member of
the American Economic Association and the National Association of Business
Economists. He also serves on the board of directors of medical/surgical
supplies distributor Owens & Minor, Inc., specialty chemicals producer
Albemarle Corporation, and specialty insurer Markel Corporation.
Additionally, Mr. Broaddus serves on the boards of the Richmond Memorial
Foundation, St. Christopher's School, Tredegar National Civil War Center
Foundation, Virginia Commonwealth University, Virginia Historical Society, and
World Affairs Council of Greater Richmond.
A graduate of Washington and Lee University and Indiana University, where
he received his M.A. and Ph.D. degrees in Economics, Mr. Broaddus also studied
under a Fulbright Fellowship at the University of Strasbourg. He is the
author of numerous articles on monetary policy and banking.
Founded in 1937, Baltimore-based T. Rowe Price is a global investment
management organization with $206.8 billion in assets under management as of
June 30, 2004. The organization provides a broad array of mutual funds, sub-
advisory services, and separate account management for individual and
institutional investors, retirement plans, and financial intermediaries. The
company also offers a variety of sophisticated investment planning and
guidance tools. T. Rowe Price's disciplined, risk-aware investment approach
focuses on diversification, style consistency, and fundamental research. More
information is available at http://www.troweprice.com.
SOURCE T. Rowe Price Group, Inc.
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Related links:
http://www.troweprice.com
CONTACT:
Brian Lewbart, +1-410-345-2242 or Steve
Norwitz, +1-410-345-2124, both of T. Rowe Price Group
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