Investment Approach

  • We seek to provide a growing level of dividend income, long-term capital appreciation, and a reasonable level of current income.
  • The portfolio will normally invest 65% of total assets in common stocks of dividend-paying companies that we expect to increase their dividends over time and also provide long-term capital appreciation.
  • The portfolio employs a conservative, growth-at-a-discount investment approach with an emphasis on dividend growth. We identify companies with a sustainable competitive advantage that are likely to show consistent growth of earnings and dividends.
  • We particularly favor companies that generate excess cash flow with attractive valuations and solid cash flow to support future dividend increase.

Past performance cannot guarantee future results. All investments are subject to risks, including possible loss of principal.

1 Net annual returns reflect the deduction of a 3.00% annual wrap fee which is the maximum anticipated wrap fee deducted from the “pure” gross composite returns. Actual fees may vary. “Pure” gross returns are presented before the deduction of expenses and all other fees, but may include transaction costs. Returns include reinvestment of dividends and capital gains. 

Team

Past performance cannot guarantee future results. 

Figures are calculated using monthly data and are net of fees.

Risk Considerations: All investments are subject to risks, including the possible loss of principal. International investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. A growth or value approach to investing could cause underperformance as compared to other stock portfolios that employ different investment styles. Growth stocks tend to be more volatile than value stocks and their prices usually fluctuate more dramatically than the overall stock market. The intrinsic value of a stock with value characteristics may not be fully recognized by the market for a long time or a stock judged to be undervalued may actually be appropriately priced at a low level. Fixed income securities are subject to credit risk, liquidity risk, call risk, and interest rate risk. As interest rates rise, bond prices generally fall. The municipal bond portfolios will be highly impacted by events tied to the overall municipal securities markets, which can be very volatile and significantly affected by unfavorable legislative or political developments and adverse changes in the financial conditions of municipal securities issuers and the economy.

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