While not always a guarantee, stocks with a rich history of dividend growth are generally a great way for shareholders to build passive income over time. This is because hiking a payout to shareholders over long periods of time requires growing profits to sustain. Rising profits can only be realized by running a business that provides customers with highly sought-after goods and/or services.

As an asset manager with hundreds of mutual funds and exchange-traded funds, T. Rowe Price (NASDAQ: TROW) is necessary to countless institutional and retail investors. But should income investors hit the buy button on this stock? Let's closely look at T. Rowe Price's fundamentals and valuation to decide. 

T. Rowe Price closed out the fourth quarter of 2022 with yet another difficult quarter. But given the challenges presented by external forces throughout the entirety of the year, this isn't surprising, and it shouldn't dissuade investors from still believing in the investment thesis.

Continue reading

Source Fool.com