2019 Qualified Dividend Income Percentage

All or a portion of your ordinary income dividend from a mutual fund may be taxed at a reduced capital gains rate rather than the higher marginal rates applicable to ordinary income. The amount of your dividend subject to this lower rate is reported in Box 1b of your Form 1099-DIV mailed in January 2020. The tax forms for the T. Rowe Price Real Assets, Real Estate, Global Real Estate, and Small-Cap Value Funds mail in February.

The tables below report the percentage of the ordinary dividend paid by the T. Rowe Price funds that qualify for the lower dividend rate. The data is provided here for informational purposes only and to assist you in your tax planning. In preparing your tax return, please use the amount in Box 1b of your Form 1099-DIV.

To treat a dividend as qualifying for lower rates, you must have held your shares on which you received the dividend for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date of the distribution. You may find your fund's ex-dividend date here.

In addition, the ordinary dividend of a mutual fund (the amount included in Box 1a of Form 1099-DIV) includes net short-term capital gains and foreign taxes paid, which may not qualify for the lower rates. As a result, the percentage of the Box 1a amount that qualifies for the lower tax rate can vary widely from year to year, depending on the amount of short-term gains and foreign taxes reported by the fund.

If you own a fund that has more than one distribution during the year, the amount reported in Box 1b of your Form 1099-DIV will be based on the qualifying percentage for each distribution.

Calculations based on the percentages below may yield amounts that differ from the amounts on your Form 1099-DIV due to rounding.

Qualified Dividend Income Percentage Tables
T. Rowe Price Domestic Stock Funds
  Qualified Dividend Income Percentage1
Balanced (All Quarters) 55.95%
Blue Chip Growth 100.00%
Capital Appreciation 30.56%
Communications & Technology 100.00%
Diversified Mid-Cap Growth 92.28%
Dividend Growth (All Quarters) 100.00%
Equity Income (All Quarters) 100.00%
Equity Index 500 (All Quarters) 97.55%
Extended Equity Market Index 69.08%
Financial Services 93.11%
Growth & Income (All Quarters) 90.51%
Growth Stock 70.34%
Health Sciences 100.00%
Mid-Cap Growth 82.64%
Mid-Cap Value 90.75%
Multi-Strategy Total Return 5.83%
New America Growth 100.00%
New Era 100.00%
New Horizons 1.07%
Personal Strategy Balanced2 (All Quarters) 44.57%
Personal Strategy Growth3 76.64%
Personal Strategy Income4 (All Quarters) 24.26%
QM U.S. Small & Mid-Cap Core Equity 87.55%
QM U.S. Small-Cap Growth Equity
QM U.S. Value Equity 91.77%
Real Assets 76.35%
Real Estate (All Quarters) 4.37%
Science & Technology 22.84%
Small-Cap Stock 81.90%
Small-Cap Value 100.00%
Tax-Efficient Equity 100.00%
Total Equity Market Index 97.90%
U.S. Equity Research5 100.00%
U.S. Large-Cap Core 98.22%
Value 100.00%
T. Rowe Price International/Global Stock and Bond Funds
  Qualified Dividend Income Percentage1
International/Global Stock Funds
Africa & Middle East 27.27%
Asia Opportunities 84.38%
China Evolution Equity N/A
Emerging Europe 100.00%
Emerging Markets Stock 68.55%
Emerging Markets Discovery Stock6 72.40%
European Stock 100.00%
Global Allocation 38.51%
Global Consumer 100.00%
Global Growth Stock 100.00%
Global Industrials 100.00%
Global Real Estate (All Quarters) 13.16%
Global Stock 100.00%
Global Technology
International Disciplined Equity7 68.28%
International Discovery 87.84%
International Equity Index 84.06%
International Stock 60.41%
International Value Equity 95.49%
Japan 78.70%
Latin America 24.44%
New Asia 75.98%
Overseas Stock 94.38%
QM Global Equity 100.00%
International/Global Bond Funds
Dynamic Credit
Dynamic Global Bond 2.02%
Emerging Markets Bond
Emerging Markets Corporate Bond
Emerging Markets Local Currency Bond
Global High Income Bond 0.55%
Global Multi-Sector Bond
International Bond
International Bond (USD Hedged)
T. Rowe Price Taxable Bond Funds
  Qualified Dividend Income Percentage1
Cash Reserves
Corporate Income
Credit Opportunities 1.89%
Floating Rate 0.24%
GNMA
Government Money 
High Yield 1.94%
Inflation Protected Bond
Limited Duration Inflation Focused Bond
New Income
Short-Term Bond
Total Return 0.27%
Ultra Short-Term Bond
U.S. Bond Enhanced Index
U.S. High Yield
U.S. Treasury Intermediate
U.S. Treasury Long-Term
U.S. Treasury Money
T. Rowe Price Tax-Free Bond Funds
  Qualified Dividend Income Percentage1
California Tax-Free Bond N/A
California Tax-Free Money N/A
Georgia Tax-Free Bond
Intermediate Tax-Free High Yield
Maryland Short-Term Tax-Free Bond N/A
Maryland Tax-Free Bond N/A
Maryland Tax-Free Money N/A
New Jersey Tax-Free Bond N/A
New York Tax-Free Bond N/A
New York Tax-Free Money N/A
Summit Municipal Income
Summit Municipal Intermediate N/A
Summit Municipal Money Market
Tax-Exempt Money N/A
Tax-Free High Yield N/A
Tax-Free Income N/A
Tax-Free Short-Intermediate N/A
Virginia Tax-Free Bond 0.25%
T. Rowe Price Retirement, Spectrum, and Target Funds
  Qualified Dividend Income Percentage1
Retirement 2005 22.21%
Retirement 2010 25.22%
Retirement 2015 28.58%
Retirement 2020 33.15%
Retirement 2025 41.93%
Retirement 2030 50.19%
Retirement 2035 57.44%
Retirement 2040 64.54%
Retirement 2045 73.91%
Retirement 2050 75.55%
Retirement 2055 73.06%
Retirement 2060 73.21%
Retirement Balanced 27.19%
Retirement Income 2020 25.18%
Retirement I 2005 - I Class 23.86%
Retirement I 2010 - I Class 29.04%
Retirement I 2015 - I Class 32.64%
Retirement I 2020 - I Class 39.63%
Retirement I 2025 - I Class 47.06%
Retirement I 2030 - I Class 52.30%
Retirement I 2035 - I Class 60.47%
Retirement I 2040 - I Class 67.04%
Retirement I 2045 - I Class 72.65%
Retirement I 2050 - I Class 72.99%
Retirement I 2055 - I Class 72.98%
Retirement I 2060 - I Class 75.07%
Retirement Balanced I - I Class 29.54%
Spectrum Growth 71.77%
Spectrum Income 9.14%
Spectrum International 83.97%
Target 2005 23.01%
Target 2010 24.85%
Target 2015 25.03%
Target 2020 31.41%
Target 2025 37.21%
Target 2030 42.69%
Target 2035 48.73%
Target 2040 53.08%
Target 2045 57.99%
Target 2050 64.66%
Target 2055 72.56%
Target 2060 74.83%

1This percentage applies to the sum of your income dividend plus short-term capital gain distribution paid for the calendar year or other period, if indicated, as reported in Box 1a of your IRS Form 1099-DIV.

2Effective January 1, 2020, name was changed to Spectrum Moderate Allocation.

3Effective January 1, 2020, name was changed to Spectrum Moderate Growth Allocation.

4Effective January 1, 2020, name was changed to Spectrum Conservative Allocation.

5Formerly Capital Opportunity

6Formerly Emerging Markets Value Stock

7Formerly International Concentrated Equity

Percentages are the same for all fund classes (Investor, Advisor, R, and I classes). For more information on Advisor, R, Institutional, and Portfolio funds, please visit our website for financial intermediaries at www.troweprice.com/financial-intermediary/us/en/investments/tax-center.html.

N/A indicates that a fund did not pay a dividend or short-term capital gain, or pass through foreign tax paid.

A dash indicates that the fund paid a dividend or short-term capital gain, but it was not qualified dividend income.

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