The tables below reflect funds that currently are expected to have year-end distributions—dividend income, capital gains, or both. It does not include all T. Rowe Price funds.

You may use this table to get a rough estimate of your taxes, but don't base your tax return on these numbers. Final numbers will be available in mid- to late December, and distribution information you would need to prepare your returns will, in most cases, be provided to you on the appropriate tax forms in late January 2014. Shareholders of the T. Rowe Price Real Estate Fund, T. Rowe Price Global Real Estate Fund, T. Rowe Price Real Assets Fund, and T. Rowe Price Small-Cap Value Fund will receive 1099-DIV and 1099-B forms in mid- to late February.

Estimated Dividend and Distribution Amounts

Locate the fund or funds you own in the tables. Multiply the number of shares you expect to hold in each fund on the declaration date by each fund's per share amounts. This approximates the amounts you can expect to receive for each type of distribution.

Qualified Dividend Estimates

If your fund has an estimated qualified dividend percentage listed in the table, multiply that percentage by the sum of your income dividends plus short-term gains from the fund. This is expected to approximate the amount of your dividend that is eligible to be taxed at the federal long-term capital gains rate applicable to qualified dividends. For additional tax reporting information on dividend distributions, please review our brochure, 2013 Tax Insights.

For funds paying income dividends monthly or quarterly, multiply the estimated qualified dividend percentage listed in the table by the sum of your income dividends received this year to approximate your estimated qualified dividends. Please refer to your account statement to find the income dividends for funds that distribute income every month or quarter. Please note: a fund's dividend may not always qualify for the lower tax rates, especially if it is derived from interest, short-term gains, or other non-qualified sources. The tables below exclude quarterly dividends paid earlier in 2013 and income that is paid monthly.

Remember, you should not prepare your taxes until you receive all of your official tax forms.

Per Share Amounts are as of October 31, 2013.

The table lists only those funds currently expected to have year-end distributions—dividend income, capital gains, or both. Amounts shown are not final. Check our website in December for final distribution amounts.

Group A
Record and Declaration Date: December 11, 2013
Ex-Dividend and Reinvestment Date: December 12, 2013
Payment Date: December 13, 2013
Group B
Record and Declaration Date: December 12, 2013
Ex-Dividend and Reinvestment Date: December 13, 2013
Payment Date: December 16, 2013
Group C
Record and Declaration Date: December 13, 2013
Ex-Dividend and Reinvestment Date: December 16, 2013
Payment Date: December 17, 2013
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Domestic Stock Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Group A
Balanced 47% Paid quarterly $0.07 $0.84
Dividend Growth 100% Paid quarterly $0.20
Equity Income 100% Paid quarterly $0.83
Equity Index 500 100% Paid quarterly
Extended Equity Market Index 31% $0.17 $0.18 $0.38
Growth & Income 100% Paid quarterly
Personal Strategy Balanced 40% Paid quarterly $0.08 $1.02
Personal Strategy Growth 84% $0.30 $0.05 $1.06
Personal Strategy Income 26% Paid quarterly $0.02 $0.56
Real Estate Paid quarterly
Tax-Efficient Equity 100% $0.07 $0.40
Total Equity Market Index 100% $0.25
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Domestic Stock Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Group B
Capital Appreciation 28% $0.25 $0.41 $0.84
Diversified Mid-Cap Growth 100% $0.015
Diversified Small-Cap Growth 100% $0.06 $0.08
Growth Stock 100% $0.02
Mid-Cap Growth 98% $0.10 $4.19
Mid-Cap Value 87% $0.18 $0.22 $1.06
New America Growth 18% $1.39 $3.68
Small-Cap Stock 70% $0.23 $1.91
Small-Cap Value 100% $0.17 $0.01 $1.35
U.S. Large-Cap Core 52% $0.11 $0.37 $0.48
Value 66% $0.39 $0.41 $1.56
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Domestic Stock Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Group C
Capital Opportunity 100% $0.21
Financial Services 100% $0.17
Health Sciences 21% $0.90 $3.57
Media & Telecommunications 45% $0.18 $1.00 $4.19
New Era 99% $0.31 $3.59
New Horizons 17% $0.46 $2.53
Real Assets 72% $0.19
*Reflects the portion of income dividends and short-term capital gains that are eligible to be taxed as qualified dividends.
Please note that year-end estimates for Advisor and R Class funds are the same as the Investor Class funds above.
For more information on the T. Rowe Price Advisor- and R-Class funds, please visit our website for financial intermediaries at www.troweprice.com/fi/distributions.
Record and Declaration Date: December 5, 2013
Ex-Dividend and Reinvestment Date: December 6, 2013
Payment Date: December 9, 2013
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Domestic Taxable Bond Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Corporate Income Paid monthly $0.20
Floating Rate Paid monthly $0.012
High Yield Paid monthly $0.01
Inflation Protected Bond Paid monthly $0.13 $0.13
New Income Paid monthly $0.07
Strategic Income 1% Paid monthly $0.16
U.S. Bond Enhanced Index Paid monthly $0.07
U.S. Treasury Intermediate Paid monthly $0.07
U.S. Treasury Long-Term Paid monthly $0.16
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Domestic Tax-Free Bond Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
New Jersey Tax-Free Bond Paid monthly $0.002
New York Tax-Free Bond Paid monthly $0.002
Tax-Free High Yield Paid monthly $0.005
Tax-Free Short-Intermediate Paid monthly $0.002
*Reflects the portion of income dividends and short-term capital gains that are eligible to be taxed as qualified dividends.
Please note that year-end estimates for Advisor and R Class funds are the same as the Investor Class funds above.
For more information on the T. Rowe Price Advisor- and R-Class funds, please visit our website for financial intermediaries at www.troweprice.com/fi/distributions.
Record and Declaration Date: December 16, 2013
Ex-Dividend and Reinvestment Date: December 17, 2013
Payment Date: December 18, 2013
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price International Stock Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Africa & Middle East 45% $0.13 $0.01
Emerging Europe 100% $0.38
Emerging Markets Stock 100% $0.24
European Stock 100% $0.26 $0.01
Global Allocation 100% $0.05 $0.006
Global Infrastructure 100% $0.20
Global Growth Stock1 34% $0.09 $0.54 $0.58
Global Real Estate 31% Paid quarterly $0.03 $0.04
Global Stock 100% $0.05 $0.02
Global Technology 6% $0.01 $1.21 $0.18
International Discovery 61% $0.64 $0.55 $0.38
International Equity Index 71% $0.28 $0.02
International Growth & Income 91% $0.35
International Stock 100% $0.13
Japan 78% $0.07 $0.12
Latin America 62% $0.58 $0.26 $1.02
New Asia 61% $0.14 $0.55
Overseas Stock 90% $0.18
1Effective 11/1/13, the Global Large-Cap Stock Fund was renamed the Global Growth Stock Fund.
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price International Bond Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Emerging Markets Bond Paid monthly $0.03
*Reflects the portion of income dividends and short-term capital gains that are eligible to be taxed as qualified dividends.
Please note that year-end estimates for Advisor and R Class funds are the same as the Investor Class funds above.
For more information on the T. Rowe Price Advisor- and R-Class funds, please visit our website for financial intermediaries at www.troweprice.com/fi/distributions.
Record and Declaration Date: December 19, 2013
Ex-Dividend and Reinvestment Date: December 20, 2013
Payment Date: December 23, 2013
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Retirement and Spectrum Funds Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Retirement 2005 32% $0.24 $0.02 $0.12
Retirement 2010 37% $0.33 $0.02 $0.26
Retirement 2015 42% $0.23 $0.02 $0.26
Retirement 2020 48% $0.30 $0.04 $0.38
Retirement 2025 52% $0.21 $0.03 $0.22
Retirement 2030 58% $0.27 $0.06 $0.35
Retirement 2035 65% $0.17 $0.05 $0.21
Retirement 2040 69% $0.23 $0.07 $0.31
Retirement 2045 69% $0.15 $0.05 $0.19
Retirement 2050 69% $0.13 $0.04 $0.18
Retirement 2055 68% $0.13 $0.04 $0.16
Retirement Income 36% Paid monthly $0.03 $0.20
Spectrum Growth 82% $0.21 $0.05 $0.67
Spectrum Income 7% Paid monthly $0.17
Spectrum International 87% $0.17 $0.02
Target Retirement 2005 41% $0.08 $0.01
Target Retirement 2010 44% $0.08 $0.01
Target Retirement 2015 50% $0.07 $0.01
Target Retirement 2020 55% $0.08 $0.02
Target Retirement 2025 59% $0.08 $0.02
Target Retirement 2030 58% $0.09 $0.03
Target Retirement 2035 64% $0.09 $0.03
Target Retirement 2040 66% $0.09 $0.03
Target Retirement 2045 69% $0.09 $0.03
Target Retirement 2050 72% $0.09 $0.03
Target Retirement 2055 60% $0.09 $0.06
*Reflects the portion of income dividends and short-term capital gains that are eligible to be taxed as qualified dividends.
Please note that year-end estimates for Advisor and R Class funds are the same as the Investor Class funds above.
For more information on the T. Rowe Price Advisor- and R-Class funds, please visit our website for financial intermediaries at www.troweprice.com/fi/distributions.
Record and Declaration Date: December 17, 2013
Ex-Dividend and Reinvestment Date: December 18, 2013
Payment Date: December 19, 2013
Preliminary Year-End Distributions
  Per Share Amounts
T. Rowe Price Variable Annuity Portfolios2 Qualified Dividend
Percentage
 (estimated)*
Income Dividends
(annual estimate)
Short-Term
Gains
Long-Term
Gains
Blue Chip Growth Portfolio 100% $0.0025
Equity Income Portfolio 100% Paid quarterly
Equity Index 500 Portfolio 99% Paid quarterly
Health Sciences Portfolio 23% $0.34 $0.97
International Stock Portfolio 100% $0.16
Mid-Cap Growth Portfolio 100% $0.03 $2.26
New America Growth Portfolio 16% $1.02 $3.37
Personal Strategy Balanced Portfolio 44% Paid quarterly $0.11 $1.26
Prime Reserve Portfolio Paid monthly $0.00004
*Reflects the portion of income dividends and short-term capital gains that are eligible to be taxed as qualified dividends.
Please note that year-end estimates for Variable Annuity-II Class funds are the same as the funds above.
2For existing clients who are considering an exchange or investment into a new portfolio and would like to request a prospectus, please call 1-800-469-6587. The prospectus includes investment objectives, risks, fees, expenses, and other information that should be read carefully before investing.
The T. Rowe Price No-Load Variable Annuity is issued by Security Benefit Life Insurance Company (Form V6021). In New York, it is issued by First Security Benefit Life Insurance and Annuity Company of New York, White Plains, New York (FSB201 - 11/96). (Security Benefit Life is not licensed in New York and does not solicit business in New York.) The Variable Annuity, which has been available since April 1995, and in New York since November 1995, has limitations; contact your representative. It is distributed by T. Rowe Price Investment Services, Inc., T. Rowe Price Insurance Agency, Inc., and T. Rowe Price Insurance Agency of Texas, Inc. The underlying portfolios are managed by T. Rowe Price Associates, Inc. The Security Benefit Group of companies and the T. Rowe Price companies are not affiliated. The Variable Annuity may not be available in all states.