T. Rowe Price Group boosts stock repurchase plan, votes in new independent director
The Baltimore Sun|
Apr 26, 2018 | 2:45 PM
The board of directors of T. Rowe Price Group approved adding another 10 million shares to it stock repurchase plan, expanding that program to 21 million shares, the Baltimore-based money management firm announced Thursday.
At the company's annual shareholders meeting Thursday in Owings Mills, T. Rowe stockholders elected all 12 nominees to the corporate board, including a new director Richard R. Verma. A former U.S. ambassador to India, Verma is currently vice chairman and partner at The Asia Group, a strategic advisory firm to companies interested in Asia.
Stockholders also voted to approve the 2017 compensation paid to the company's named executive officers and a charter amendment eliminating a provision that limits voting of share ownership to 15 percent of the outstanding shares.
T. Rowe Price also declared a 70 cent dividend for the second quarter. It be paid June 29 to shareholders of record as of June 15.