T. Rowe Price Group, Inc. Presents at 2013 Africa Financial Services Investment Conference, May-07-2013 09:45 AM. Venue: Hilton Metropole, Brighton, United Kingdom. Speakers: Oliver Bell, Portfolio Manager.

T. Rowe Price Group, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. Net revenues were $815.7 million against $728.7 million last year. Net operating income was $372.6 million against $316.2 million last year. Income before income taxes was $390.9 million against $321.3 million last year. Net income allocated to common stockholders was $240.1 million or $0.91 per diluted share against $196.5 million or $0.75 per diluted share last year. Cash provided by operating activities, including $23.7 of stock-based compensation in 2013 was $459.4 million against $265.8 million last year. Additions to property and equipment were $22.8 million. The company estimates effective tax rate for 2013 will be 38.3%. The company currently expects total capital expenditures for property and equipment for 2013 to be approximately $125 million, which will be funded from operating resources.

T. Rowe Price Group, Inc. announced that its board of directors has declared a quarterly dividend of $0.38 per share payable June 27, 2013 to stockholders of record as of the close of business on June 13, 2013.