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PRFDX Mutual Fund — T. ROWE PRICE EQUITY INCOME FUND
T. ROWE PRICE EQUITY INCOME FUND (PRFDX)
Updated November 5, 2026.
Verdict as of November 5, 2026 close
PRFDX's distribution is rated safe by the Dividend Vision Distribution Safety Score™ (80/100, high confidence). It pays quarterly and its distribution rate is 1.28%. The latest total cash payment per current share, $0.17 with an ex-date of September 28, 2026, was 11.1% higher than the previous $0.153. It is not yet confirmed whether this is an increase in the regular payout or a one-off difference.
Sources: T. Rowe Price, Section 19a-1 notices, scoring methodology.
PRFDX is a mutual fund. Its distribution rate is 1.28%, its trailing-12-month yield is 3.10%, its expense ratio is 0.6689%. Dividend Vision Distribution Safety Score™ is 80/100 (Safe). Total return is 5735.6% over the past 40.9 years.
T. Rowe Price Equity Income Fund is a mutual fund that invests at least 80% of its assets in large-capitalization equity securities with a history of dividend payments within the past 12 months. The fund distributes quarterly and carries a modest current distribution rate. It appeals to growth-oriented income investors seeking exposure to dividend-paying large-cap stocks.
PRFDX dividend yield and income
Price as of 2026-11-05.
The distribution rate (1.28%) has no calculation basis on file. Trailing-12-month yield (3.10%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.17. The ex-dividend date is 09/28/2026. The payment date is 09/29/2026.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2026-09-28 | $0.17 | 11.1% Total cash (unclassified) |
| 2026-06-26 | $0.153 | 71.9% Total cash (unclassified) |
| 2026-03-27 | $0.089 | N/A |
| 2025-12-12 | $0.4255 | N/A |
| 2025-12-11 | $0.619 | N/A |
| 2025-09-26 | $0.151 | -21.4% Total cash (unclassified) |
| 2025-06-26 | $0.192 | 81.1% Total cash (unclassified) |
| 2025-03-27 | $0.106 | -95.9% Total cash (unclassified) |
| 2024-12-12 | $2.56 | 1423.8% Total cash (unclassified) |
| 2024-09-26 | $0.168 | -24.7% Total cash (unclassified) |
| 2024-06-26 | $0.223 | 64.0% Total cash (unclassified) |
| 2024-03-26 | $0.136 | -91.3% Total cash (unclassified) |
| 2023-12-13 | $1.571 | 824.1% Total cash (unclassified) |
| 2023-09-27 | $0.17 | -14.6% Total cash (unclassified) |
| 2023-06-28 | $0.199 | 39.2% Total cash (unclassified) |
| 2023-03-29 | $0.143 | -91.6% Total cash (unclassified) |
| 2022-12-13 | $1.702 | 907.1% Total cash (unclassified) |
| 2022-09-28 | $0.169 | 5.6% Total cash (unclassified) |
| 2022-06-28 | $0.16 | 23.1% Total cash (unclassified) |
| 2022-03-29 | $0.13 | -95.2% Total cash (unclassified) |
| 2021-12-13 | $2.7 | 1400.0% Total cash (unclassified) |
| 2021-09-28 | $0.18 | 12.5% Total cash (unclassified) |
| 2021-06-28 | $0.16 | 33.3% Total cash (unclassified) |
| 2021-03-29 | $0.12 | -80.3% Total cash (unclassified) |
| 2020-12-11 | $0.61 | 258.8% Total cash (unclassified) |
| 2020-09-28 | $0.17 | -10.5% Total cash (unclassified) |
| 2020-06-26 | $0.19 | 35.7% Total cash (unclassified) |
| 2020-03-27 | $0.14 | -92.5% Total cash (unclassified) |
| 2019-12-12 | $1.86 | 878.9% Total cash (unclassified) |
| 2019-09-26 | $0.19 | 5.6% Total cash (unclassified) |
| 2019-06-26 | $0.18 | 12.5% Total cash (unclassified) |
| 2019-03-27 | $0.16 | -93.9% Total cash (unclassified) |
| 2018-12-12 | $2.63 | 1361.1% Total cash (unclassified) |
| 2018-09-26 | $0.18 | -5.3% Total cash (unclassified) |
| 2018-06-27 | $0.19 | 58.3% Total cash (unclassified) |
| 2018-03-27 | $0.12 | -95.6% Total cash (unclassified) |
| 2017-12-13 | $2.72 | 1331.6% Total cash (unclassified) |
| 2017-09-27 | $0.19 | 11.8% Total cash (unclassified) |
| 2017-06-28 | $0.17 | 54.5% Total cash (unclassified) |
| 2017-03-29 | $0.11 | -94.5% Total cash (unclassified) |
| 2016-12-13 | $1.99 | 1005.6% Total cash (unclassified) |
| 2016-09-28 | $0.18 | 5.9% Total cash (unclassified) |
| 2016-06-28 | $0.17 | 70.0% Total cash (unclassified) |
| 2016-03-29 | $0.1 | -94.0% Total cash (unclassified) |
| 2015-12-11 | $1.67 | 827.8% Total cash (unclassified) |
| 2015-09-28 | $0.18 | 5.9% Total cash (unclassified) |
| 2015-06-26 | $0.17 | 54.5% Total cash (unclassified) |
| 2015-03-27 | $0.11 | -94.4% Total cash (unclassified) |
| 2014-12-11 | $1.95 | 1292.9% Total cash (unclassified) |
| 2014-09-26 | $0.14 | -6.7% Total cash (unclassified) |
| 2014-06-26 | $0.15 | -25.0% Total cash (unclassified) |
| 2014-03-27 | $0.2 | -79.8% Total cash (unclassified) |
| 2013-12-12 | $0.99 | 607.1% Total cash (unclassified) |
| 2013-09-26 | $0.14 | 7.7% Total cash (unclassified) |
| 2013-06-26 | $0.13 | 0.0% Total cash (unclassified) |
| 2013-03-26 | $0.13 | -18.8% Total cash (unclassified) |
| 2012-12-13 | $0.16 | 23.1% Total cash (unclassified) |
| 2012-09-26 | $0.13 | -7.1% Total cash (unclassified) |
| 2012-06-27 | $0.14 | 7.7% Total cash (unclassified) |
| 2012-03-28 | $0.13 | 0.0% Total cash (unclassified) |
| 2011-12-13 | $0.13 | 8.3% Total cash (unclassified) |
| 2011-09-28 | $0.12 | 9.1% Total cash (unclassified) |
| 2011-06-28 | $0.11 | 22.2% Total cash (unclassified) |
| 2011-03-29 | $0.09 | -18.2% Total cash (unclassified) |
| 2010-12-13 | $0.11 | -21.4% Total cash (unclassified) |
| 2010-09-28 | $0.14 | 40.0% Total cash (unclassified) |
| 2010-06-28 | $0.1 | 11.1% Total cash (unclassified) |
| 2010-03-29 | $0.09 | -10.0% Total cash (unclassified) |
| 2009-12-11 | $0.1 | 11.1% Total cash (unclassified) |
| 2009-09-28 | $0.09 | 0.0% Total cash (unclassified) |
| 2009-06-26 | $0.09 | -18.2% Total cash (unclassified) |
| 2009-03-27 | $0.11 | -31.3% Total cash (unclassified) |
| 2008-12-12 | $0.16 | 6.7% Total cash (unclassified) |
| 2008-09-26 | $0.15 | 7.1% Total cash (unclassified) |
| 2008-06-26 | $0.14 | -83.5% Total cash (unclassified) |
| 2008-03-27 | $0.85 | -47.9% Total cash (unclassified) |
| 2007-12-18 | $1.63 | 918.8% Total cash (unclassified) |
| 2007-09-26 | $0.16 | 6.7% Total cash (unclassified) |
| 2007-06-27 | $0.15 | -68.1% Total cash (unclassified) |
| 2007-03-28 | $0.47 | -44.7% Total cash (unclassified) |
| 2006-12-19 | $0.85 | 608.3% Total cash (unclassified) |
| 2006-09-27 | $0.12 | 0.0% Total cash (unclassified) |
| 2006-06-28 | $0.12 | -36.8% Total cash (unclassified) |
| 2006-03-29 | $0.19 | -85.0% Total cash (unclassified) |
| 2005-12-13 | $1.27 | 1054.5% Total cash (unclassified) |
| 2005-09-28 | $0.11 | 0.0% Total cash (unclassified) |
| 2005-06-28 | $0.11 | -63.3% Total cash (unclassified) |
| 2005-03-29 | $0.3 | -55.9% Total cash (unclassified) |
| 2004-12-14 | $0.68 | 655.6% Total cash (unclassified) |
| 2004-09-28 | $0.09 | -10.0% Total cash (unclassified) |
| 2004-06-28 | $0.1 | -63.0% Total cash (unclassified) |
| 2004-03-29 | $0.27 | -27.0% Total cash (unclassified) |
| 2003-12-17 | $0.37 | 270.0% Total cash (unclassified) |
| 2003-09-26 | $0.1 | 25.0% Total cash (unclassified) |
| 2003-06-26 | $0.08 | -27.3% Total cash (unclassified) |
| 2003-03-27 | $0.11 | -76.1% Total cash (unclassified) |
| 2002-12-18 | $0.46 | 411.1% Total cash (unclassified) |
| 2002-09-26 | $0.09 | 12.5% Total cash (unclassified) |
| 2002-06-26 | $0.08 | -55.6% Total cash (unclassified) |
| 2002-03-26 | $0.18 | -73.1% Total cash (unclassified) |
| 2001-12-12 | $0.67 | 570.0% Total cash (unclassified) |
| 2001-09-26 | $0.1 | 11.1% Total cash (unclassified) |
| 2001-06-27 | $0.09 | -82.4% Total cash (unclassified) |
| 2001-03-28 | $0.51 | -75.2% Total cash (unclassified) |
| 2000-12-13 | $2.06 | 1484.6% Total cash (unclassified) |
| 2000-09-27 | $0.13 | 0.0% Total cash (unclassified) |
| 2000-06-28 | $0.13 | -84.3% Total cash (unclassified) |
| 2000-03-29 | $0.83 | -55.9% Total cash (unclassified) |
| 1999-12-15 | $1.88 | 1346.2% Total cash (unclassified) |
| 1999-09-28 | $0.13 | -7.1% Total cash (unclassified) |
| 1999-06-28 | $0.14 | -60.0% Total cash (unclassified) |
| 1999-03-29 | $0.35 | N/A |
| 1998-12-29 | $0.15 | N/A |
| 1998-12-16 | $1.36 | N/A |
| 1998-09-28 | $0.16 | 0.0% Total cash (unclassified) |
| 1998-06-26 | $0.16 | -40.7% Total cash (unclassified) |
| 1998-03-27 | $0.27 | -86.2% Total cash (unclassified) |
| 1997-12-29 | $1.95 | 1118.8% Total cash (unclassified) |
| 1997-09-26 | $0.16 | 6.7% Total cash (unclassified) |
| 1997-06-26 | $0.15 | -72.2% Total cash (unclassified) |
| 1997-03-26 | $0.54 | -38.6% Total cash (unclassified) |
| 1996-12-27 | $0.88 | 450.0% Total cash (unclassified) |
| 1996-09-26 | $0.16 | 0.0% Total cash (unclassified) |
| 1996-06-26 | $0.16 | -44.8% Total cash (unclassified) |
| 1996-03-27 | $0.29 | -48.2% Total cash (unclassified) |
| 1995-12-27 | $0.56 | 229.4% Total cash (unclassified) |
| 1995-09-27 | $0.17 | 6.3% Total cash (unclassified) |
| 1995-06-28 | $0.16 | -46.7% Total cash (unclassified) |
| 1995-03-29 | $0.3 | N/A |
| 1995-01-27 | $0.26 | N/A |
| 1994-12-28 | $0.84 | N/A |
| 1994-09-28 | $0.15 | N/A |
| 1994-09-21 | $0.15 | N/A |
| 1994-06-28 | $0.14 | -48.1% Total cash (unclassified) |
| 1994-03-29 | $0.27 | -61.4% Total cash (unclassified) |
| 1993-12-22 | $0.7 | 400.0% Total cash (unclassified) |
| 1993-09-28 | $0.14 | 7.7% Total cash (unclassified) |
| 1993-06-28 | $0.13 | -55.2% Total cash (unclassified) |
| 1993-03-29 | $0.29 | -45.3% Total cash (unclassified) |
| 1992-12-23 | $0.53 | 253.3% Total cash (unclassified) |
| 1992-09-28 | $0.15 | 0.0% Total cash (unclassified) |
| 1992-06-29 | $0.15 | -21.1% Total cash (unclassified) |
| 1992-03-27 | $0.19 | -32.1% Total cash (unclassified) |
| 1991-12-23 | $0.28 | 86.7% Total cash (unclassified) |
| 1991-09-26 | $0.15 | 7.1% Total cash (unclassified) |
| 1991-06-26 | $0.14 | 0.0% Total cash (unclassified) |
| 1991-03-27 | $0.14 | -60.0% Total cash (unclassified) |
| 1990-12-21 | $0.35 | 118.7% Total cash (unclassified) |
| 1990-09-26 | $0.16 | 0.0% Total cash (unclassified) |
| 1990-07-02 | $0.16 | -5.9% Total cash (unclassified) |
| 1990-04-02 | $0.17 | -71.2% Total cash (unclassified) |
| 1989-12-22 | $0.59 | 168.2% Total cash (unclassified) |
| 1989-10-09 | $0.22 | 22.2% Total cash (unclassified) |
| 1989-07-10 | $0.18 | 12.5% Total cash (unclassified) |
| 1989-04-10 | $0.16 | -11.1% Total cash (unclassified) |
| 1988-12-21 | $0.18 | 5.9% Total cash (unclassified) |
| 1988-10-10 | $0.17 | 0.0% Total cash (unclassified) |
| 1988-07-11 | $0.17 | 54.5% Total cash (unclassified) |
| 1988-04-08 | $0.11 | -42.1% Total cash (unclassified) |
| 1987-12-16 | $0.19 | 26.7% Total cash (unclassified) |
| 1987-10-09 | $0.15 | -6.3% Total cash (unclassified) |
| 1987-07-09 | $0.16 | -5.9% Total cash (unclassified) |
| 1987-04-08 | $0.17 | 13.3% Total cash (unclassified) |
| 1987-01-09 | $0.15 | -11.8% Total cash (unclassified) |
| 1986-10-08 | $0.17 | 6.3% Total cash (unclassified) |
| 1986-07-09 | $0.16 | -15.8% Total cash (unclassified) |
| 1986-04-08 | $0.19 | 46.2% Total cash (unclassified) |
| 1986-01-09 | $0.13 | — |
| 1986 total | $0.65 | — |
| 1987 total | $0.82 | 26.2% |
| 1988 total | $0.63 | -23.2% |
| 1989 total | $1.15 | 82.5% |
| 1990 total | $0.84 | -27.0% |
| 1991 total | $0.71 | -15.5% |
| 1992 total | $1.02 | 43.7% |
| 1993 total | $1.26 | 23.5% |
| 1994 total | $1.55 | 23.0% |
| 1995 total | $1.45 | -6.5% |
| 1996 total | $1.49 | 2.8% |
| 1997 total | $2.8 | 87.9% |
| 1998 total | $2.1 | -25.0% |
| 1999 total | $2.5 | 19.0% |
| 2000 total | $3.15 | 26.0% |
| 2001 total | $1.37 | -56.5% |
| 2002 total | $0.81 | -40.9% |
| 2003 total | $0.66 | -18.5% |
| 2004 total | $1.14 | 72.7% |
| 2005 total | $1.79 | 57.0% |
| 2006 total | $1.28 | -28.5% |
| 2007 total | $2.41 | 88.3% |
| 2008 total | $1.3 | -46.1% |
| 2009 total | $0.39 | -70.0% |
| 2010 total | $0.44 | 12.8% |
| 2011 total | $0.45 | 2.3% |
| 2012 total | $0.56 | 24.4% |
| 2013 total | $1.39 | 148.2% |
| 2014 total | $2.44 | 75.5% |
| 2015 total | $2.13 | -12.7% |
| 2016 total | $2.44 | 14.6% |
| 2017 total | $3.19 | 30.7% |
| 2018 total | $3.12 | -2.2% |
| 2019 total | $2.39 | -23.4% |
| 2020 total | $1.11 | -53.6% |
| 2021 total | $3.16 | 184.7% |
| 2022 total | $2.161 | -31.6% |
| 2023 total | $2.083 | -3.6% |
| 2024 total | $3.087 | 48.2% |
| 2025 total | $1.4935 | -51.6% |
| 2026 YTD total | $0.412 | -8.2% vs prior-year YTD |
PRFDX dividend growth
Trailing-12-month distributions versus the preceding 12 months changed -51.6%. The 1Y row below uses this same adjacent TTM cash-window comparison. The deepest trailing-12-month payout decline in the past five years is -12.60%.
| Window | Change |
|---|---|
| 1Y | -51.6% |
| 3Y | -34.2% |
| 5Y | 36.1% |
| 10Y | -31.3% |
PRFDX holdings and sector exposure
The top 10 holdings are 24.3% of the fund.
| Ticker | Name | Weight |
|---|---|---|
| — | AMAZON.COM INC | 4.18% |
| — | MICROSOFT CORP | 4.06% |
| — | APPLE INC | 3.27% |
| — | INTEL CORP | 2.03% |
| — | METLIFE INC | 2.03% |
| — | SOUTHERN CO/THE | 1.93% |
| — | CITIGROUP INC | 1.80% |
| — | QUALCOMM INC | 1.76% |
| — | JPMORGAN CHASE CO | 1.71% |
| — | CHARLES SCHWAB CORP/THE | 1.57% |
To see how this fund's sectors add up across your own holdings, use True Exposure.
PRFDX performance
Total return is 5735.6% over the past 40.9 years. Over the past year its total return — price change plus distributions reinvested — is 30.6%. Its deepest 1-year drawdown was 7.3%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 6.2% | — |
| 3M | 2.8% | — |
| 6M | 12.8% | — |
| YTD | 23.0% | — |
| 1Y | 30.6% | — |
| 2Y CAGR | — | 17.90% |
| 3Y CAGR | — | 20.30% |
| 5Y CAGR | — | 11.30% |
| 10Y CAGR | — | 12.20% |
| Since inception 1985-12-05 · 40.9 years | 5735.6% | 10.50% |
PRFDX key facts
- Distribution Safety Score™
- 80 · Safe
- Safety-Adjusted Yield
- 1.02%
- Issuer
- T. Rowe Price
- Asset type
- Mutual Fund
- Asset class
- Equity
- Inception date
- 12/05/1985
- Expense ratio
- 0.6689%
- Distribution rate
- 1.28%
- Distribution frequency
- Quarterly
- Trailing yield
- 3.10%
- Last close
- $47.00 (as of 2026-11-05)
- NAV
- $44.46
- Premium / discount
- Premium not shown · NAV date unknown
- AUM
- $17,504,470,000
- Average volume
- 0
- Dividend
- $0.17
- Ex-dividend date
- 09/28/2026
- Payment date
- 09/29/2026
- Beta
- 0.68
How Dividend Vision calculates yield and returns
Distribution rate (1.28%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.10%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: T. Rowe Price; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
PRFDX risks and drawbacks
PRFDX's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. The deepest 1-year drawdown on record here is 7.3%.
Who may consider PRFDX — and who may not
PRFDX may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (PRFDX pays quarterly); investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.
More on PRFDX
Frequently asked questions
Does PRFDX pay monthly?
No. PRFDX currently pays quarterly, not monthly.
What is PRFDX's expense ratio?
PRFDX's expense ratio is 0.6689%.
What is PRFDX's dividend yield?
PRFDX's distribution rate is 1.28%, paid quarterly, with a 0.6689% expense ratio — no calculation basis on file.
How has PRFDX's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed -51.6%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does PRFDX pay a dividend?
PRFDX pays quarterly. The dividend amount is $0.17. The ex-dividend date is 09/28/2026. The payment date is 09/29/2026.
How has PRFDX performed?
Total return is 5735.6% over the past 40.9 years. Over the past year its total return — price change plus distributions reinvested — is 30.6%. Its deepest 1-year drawdown was 7.3%.
Is PRFDX a good investment?
PRFDX's Dividend Vision Distribution Safety Score is 80 (Safe). That is a risk signal, not investment advice. Its distribution rate is 1.28% (no calculation basis on file). Compare peers below rather than treating any single figure as a buy or sell.
More securities from T. Rowe Price.
Tickers
PRFDX's distribution is rated safe by the Dividend Vision Distribution Safety Score™ (80/100, high confidence). It pays quarterly and its distribution rate is 1.28%. The latest total cash payment per current share, $0.17 with an ex-date of September 28, 2026, was 11.1% higher than the previous $0.153. It is not yet confirmed whether this is an increase in the regular payout or a one-off difference.
Sources: T. Rowe Price, Section 19a-1 notices, scoring methodology.
Holdings as-of date unavailable.
| Ticker | Name | Weight |
|---|
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