All or a portion of your ordinary income dividend from a mutual fund may be taxed at a reduced capital gains rate rather than the higher marginal rates applicable to ordinary income. The amount of your dividend subject to this lower rate is reported in Box 1b of your Form 1099-DIV mailed in January 2016. The tax forms for the T. Rowe Price Real Assets, Real Estate, Global Real Estate, and Small-Cap Value Funds mail in February.

The tables below report the percentage of the ordinary dividend paid by the T. Rowe Price funds that qualify for the lower dividend rate. The data is provided here for informational purposes only and to assist you in your tax planning. In preparing your tax return, please use the amount in Box 1b of your Form 1099-DIV.

To treat a dividend as qualifying for lower rates, you must have held your shares on which you received the dividend for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date of the distribution. You may find your fund's ex-dividend date here.

In addition, the ordinary dividend of a mutual fund (the amount included in Box 1a of Form 1099-DIV) includes net short-term capital gains and foreign taxes paid, which may not qualify for the lower rates. As a result, the percentage of the Box 1a amount that qualifies for the lower tax rate can vary widely from year to year, depending on the amount of short-term gains and foreign taxes reported by the fund.

If you own a fund that has more than one distribution during the year, the amount reported in Box 1b of your Form 1099-DIV will be based on the qualifying percentage for each distribution.

Calculations based on the percentages below may yield amounts that differ from the amounts on your Form 1099-DIV due to rounding.

Qualified Dividend Income Percentage Tables
T. Rowe Price Domestic Stock Funds
  Qualified Dividend Income Percentage1
Balanced (All Quarters) 55.98%
Blue Chip Growth N/A
Capital Appreciation 27.00%
Capital Opportunity 95.91%
Diversified Mid-Cap Growth 87.83%
Diversified Small-Cap Growth 100.00%
Dividend Growth (All Quarters) 100.00%
Equity Income (All Quarters) 100.00%
Equity Index 500 (All Quarters) 100.00%
Extended Equity Market Index 74.93%
Financial Services 100.00%
Growth & Income (All Quarters) 100.00%
Growth Stock N/A
Health Sciences 28.14%
Media & Telecommunications 63.50%
Mid-Cap Growth 93.25%
Mid-Cap Value 88.62%
New America Growth 72.97%
New Era 71.04%
New Horizons N/A
Personal Strategy Balanced (All Quarters) 48.10%
Personal Strategy Growth 75.90%
Personal Strategy Income (All Quarters) 31.17%
Real Assets 94.82%
Real Estate (All Quarters) 2.02%
Science & Technology 8.84%
Small-Cap Stock 100.00%
Small-Cap Value 100.00%
Tax-Efficient Equity 100.00%
Total Equity Market Index 100.00%
U.S. Large-Cap Core 93.66%
Value 98.63%
T. Rowe Price Taxable Bond Funds
  Qualified Dividend Income Percentage1
Corporate Income
Credit Opportunities 1.42%
Floating Rate
High Yield 0.74%
Inflation Protected Bond
Limited Duration Inflation Focused Bond N/A
New Income 0.01%
Prime Reserve
Short-Term Bond
Summit Cash Reserves
Ultra Short-Term Bond
U.S. Bond Enhanced Index
U.S. Treasury Intermediate
U.S. Treasury Long-Term
U.S. Treasury Money
T. Rowe Price Tax-Free Bond Funds
  Qualified Dividend Income Percentage1
California Tax-Free Bond N/A
California Tax-Free Money N/A
Georgia Tax-Free Bond N/A
Intermediate Tax-Free High Yield
Maryland Short-Term Tax-Free Bond N/A
Maryland Tax-Free Bond
Maryland Tax-Free Money N/A
New Jersey Tax-Free Bond
New York Tax-Free Bond
New York Tax-Free Money N/A
Summit Municipal Income
Summit Municipal Intermediate
Summit Municipal Money Market N/A
Tax-Exempt Money N/A
Tax-Free High Yield 55.25%
Tax-Free Income N/A
Tax-Free Short-Intermediate N/A
Virginia Tax-Free Bond 0.36%
T. Rowe Price International/Global Stock and Bond Funds
  Qualified Dividend Income Percentage1
International/Global Stock Funds
Africa & Middle East 39.40%
Asia Opportunities 100.00%
Emerging Europe 84.11%
Emerging Markets Stock 100.00%
Emerging Markets Value Stock
European Stock 100.00%
Global Allocation 54.44%
Global Growth Stock 36.87%
Global Industrials 100.00%
Global Real Estate (All Quarters) 45.32%
Global Stock 100.00%
Global Technology 2.90%
International Concentrated Equity 87.23%
International Discovery 72.54%
International Equity Index 75.58%
International Growth & Income 98.19%
International Stock 100.00%
Japan 100.00%
Latin America 100.00%
New Asia 55.73%
Overseas Stock 93.83%
International/Global Bond Funds
Emerging Markets Bond
Emerging Markets Corporate Bond
Emerging Markets Local Currency Bond
Global High Income Bond 0.18%
Global Multi-Sector Bond2 0.41%
Global Unconstrained Bond
International Bond
T. Rowe Price Retirement and Spectrum Funds
  Qualified Dividend Income Percentage1
Retirement 2005 34.08%
Retirement 2010 40.77%
Retirement 2015 45.66%
Retirement 2020 52.61%
Retirement 2025 58.79%
Retirement 2030 66.34%
Retirement 2035 75.70%
Retirement 2040 83.00%
Retirement 2045 84.50%
Retirement 2050 83.65%
Retirement 2055 84.87%
Retirement 2060 80.41%
Retirement Balanced 42.77%
Spectrum Growth 94.33%
Spectrum Income 8.30%
Spectrum International 94.86%
Target Retirement 2005 32.69%
Target Retirement 2010 34.86%
Target Retirement 2015 39.69%
Target Retirement 2020 44.06%
Target Retirement 2025 47.29%
Target Retirement 2030 54.55%
Target Retirement 2035 56.12%
Target Retirement 2040 62.87%
Target Retirement 2045 69.32%
Target Retirement 2050 76.71%
Target Retirement 2055 81.21%
Target Retirement 2060 82.25%

1This percentage applies to the sum of your income dividend plus short-term capital gain distribution and foreign tax paid for the calendar year as reported in Box 1a of your IRS Form 1099-DIV.

2Formerly T. Rowe Price Strategic Income Fund.

Percentages are the same for all fund classes (Investor, Advisor, R, and I classes and Portfolio and Portfolio—II classes). For more information, please visit our website for financial intermediaries at

N/A indicates that a fund did not pay a dividend or short-term capital gain, or pass through foreign tax paid.

A dash indicates that the fund paid a dividend, but it was not qualified dividend income.