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T. Rowe Price Group Names Olympia Snowe as Independent Director

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June 20 (Bloomberg) -- T. Rowe Price Group Inc., the asset manager that posted a profit every quarter since going public in 1986, appointed former U.S. Senator Olympia Snowe as independent director.

“Olympia brings a broad range of valuable leadership and public policy experience that will serve the board and the firm well,” Brian C. Rogers, chairman of the Baltimore-based firm, said today in a statement. “A strong believer in bipartisan compromise, she has worked extensively on many complex and important issues relevant to our business, including budget and fiscal responsibility, education, retirement and aging, women’s issues, health care, foreign affairs and national security.”

T. Rowe Price also declared a quarterly dividend of 38 cents per share, payable Sept. 27 to stockholders as of the close of business on Sept. 13.

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To contact the reporter on this story: Christopher Condon in Boston at ccondon4@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net