TRRKX Dividend Yield 2026: T. Rowe Price Retirement 2045 Fund

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Data last updated: Sep 06, 2026

Snapshot (as of Sep 06, 2026): T. Rowe Price Retirement 2045 Fund (TRRKX) pays a $0.96 annual dividend, yielding 3.30% at $28.95/share. Next ex-dividend date 2025-12-19. Source: Yahoo Finance, aggregated by MerryDiv.

Dividend Yield: 3.30%

Annual Dividend: $0.96 per share

Ex-Dividend Date: 2025-12-19

Sector: Financial Services

Years of Dividend History: 21

About T. Rowe Price Retirement 2045 Fund Dividend

The T. Rowe Price Retirement 2045 Fund dividend comes from a target-date fund that allocates across a broad mix of T. Rowe Price equity and fixed-income mutual funds, shifting its asset mix progressively as 2045 approaches. The fund currently yields 3.3%, with a trailing annual dividend rate of $0.9567 per share. TRRKX carries a beta of 1.2, meaning it moves more than the broader market, which matters for income investors who expect smoother rides from dividend-paying funds. The next ex-dividend date is December 19, 2025.

Dividend Safety

T. Rowe Price Retirement 2045 Fund pays out dividends at a payout ratio classified as not applicable (fund/ETF), since distributions reflect the income and capital gains generated by its underlying T. Rowe Price mutual fund holdings rather than corporate earnings. T. Rowe Price Retirement 2045 Fund dividend safety is therefore tied to the performance of those underlying equity and fixed-income funds, not a traditional earnings coverage ratio. With a beta of 1.2, the fund's distributions can swing with market conditions, and the historical record shows year-over-year declines exceeding 5% have occurred.

T. Rowe Price Retirement 2045 Fund (TRRKX) Dividend Growth Rate, CAGR, and History

T. Rowe Price Retirement 2045 Fund dividend history shows a CAGR of 10.9% per year from 2005 to 2025. Per-share payments grew from $0.1200 in 2005 to $0.9567 in 2025 (2026 is the current year, so 2025 represents the most recent complete data point). The largest annual increase in the window was 118.2% in 2007, but the data also includes multiple year-over-year declines, so growth has been far from linear.

T. Rowe Price Retirement 2045 Fund Dividend Growth Rate (CAGR)

Period	CAGR	From	To
3-Year	-10.9%	$1.35 (2022)	$0.96 (2025)
5-Year	+0.1%	$0.95 (2020)	$0.96 (2025)
10-Year	+1.1%	$0.85 (2015)	$0.96 (2025)

Is T. Rowe Price Retirement 2045 Fund a Good Dividend Stock?

TRRKX fits dividend investors who want exposure to a diversified, target-date fund structure and can accept variable distributions. The current yield of 3.3% falls in the moderate (2–4%) range, sitting just below the 5-year average yield of 3.39%, so income is broadly in line with recent norms. The long-run CAGR of 10.9% looks attractive on paper, but the history includes meaningful declines, and the fund's beta of 1.2 means distributions can compress when markets pull back. The trade-off is straightforward: a diversified, glide-path fund with decent average yield, but no guarantee of year-to-year income stability.

Recent T. Rowe Price Retirement 2045 Fund Dividend Payments

Payment Date	Amount per Share
2025-12-19	$0.9567
2024-12-20	$0.4361
2023-12-21	$0.8759
2022-12-21	$1.3527
2021-12-21	$1.2840
2020-12-22	$0.9500
2019-12-20	$1.1000
2018-12-20	$1.4050
2017-12-21	$0.6500
2016-12-21	$0.7100

T. Rowe Price Retirement 2045 Fund Annual Dividend History

Year	Total Dividends
2025	$0.9567
2024	$0.4361
2023	$0.8759
2022	$1.3527
2021	$1.2840

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Frequently Asked Questions

Does TRRKX pay dividends?

Yes, T. Rowe Price Retirement 2045 Fund (TRRKX) pays a $0.96 annual dividend per share, yielding 3.30%.

What is T. Rowe Price Retirement 2045 Fund's current dividend yield?

The current yield is 3.3%, just below the fund's 5-year average yield of 3.39%. That places TRRKX in the moderate yield range, broadly in line with its own recent history.

Has T. Rowe Price Retirement 2045 Fund ever cut its dividend?

Yes, the available history shows multiple year-over-year declines exceeding 5%. For example, the 2017 payment of $0.6500 followed a 2015 payment of $0.8550, and 2020's $0.9500 followed 2018's $1.4050, reflecting the variable nature of fund distributions.

How fast has T. Rowe Price Retirement 2045 Fund grown its dividend?

The fund has grown its dividend at a compound annual growth rate (CAGR) of 10.9% per year from 2005 to 2025. That takes the per-share payment from $0.1200 to $0.9567 over the full window, though the path included significant year-over-year swings.

Is T. Rowe Price Retirement 2045 Fund a good dividend stock for income investors?

The fund offers a moderate 3.3% yield with a long-run CAGR of 10.9%, but distributions have declined in multiple years. Income investors who need predictable year-to-year payments will find the variability a meaningful drawback.

Is T. Rowe Price Retirement 2045 Fund dividend safe?

There is no payout ratio to assess since the classification is not applicable (fund/ETF). Distributions depend on the performance of underlying T. Rowe Price equity and fixed-income funds, and the historical record shows declines have occurred when those funds underperformed.

What type of investor is T. Rowe Price Retirement 2045 Fund best suited for?

TRRKX fits investors targeting a 2045 retirement who want a single diversified fund and can tolerate variable annual distributions. It is less suited to income investors who require a steady, predictable dividend each year.

How does T. Rowe Price Retirement 2045 Fund compare to its own historical yield?

At 3.3%, the current yield is slightly below the 5-year average of 3.39%. The gap is small, meaning the fund is paying income broadly consistent with what it has delivered over the past five years.

Latest TRRKX News

• TRRKX Fund Price and Chart — NASDAQ:TRRKX - TradingView — TradingView

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