0000894024 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:C000005435Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:C000166314Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:C000012104Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:C000225815Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member rr:RiskLoseMoneyMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:Dividend-payingstocksMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:MarketconditionsMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:StockinvestingMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:Large-andmid-capstocksMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:SectorexposureMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:ForeigninvestingMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:ActivemanagementMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:CybersecuritybreachesMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member rr:AfterTaxesOnDistributionsMember cik0000894024:C000005435Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member rr:AfterTaxesOnDistributionsAndSalesMember cik0000894024:C000005435Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:Russell3000IndexMember 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:Russell3000Index1Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:Russell3000Index2Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:Russell3000Index3Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:SP500Index4Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:SP500Index5Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:SP500Index6Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:LipperLarge-CapCoreFundsIndex7Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:LipperLarge-CapCoreFundsIndex8Member 2024-12-31 2024-12-31 0000894024 cik0000894024:S000002075Member cik0000894024:LipperLarge-CapCoreFundsIndex9Member 2024-12-31 2024-12-31 iso4217:USD pure utr:Y T. Rowe Price Dividend Growth Fund, Inc. 2025-03-01 Dividend Growth Fund Investment Objective(s) The fund seeks dividend income and long-term capital growth primarily through investments in stocks. Fees and Expenses This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the fund. You may also incur brokerage commissions and other charges when buying or selling shares of the fund, which are not reflected in the table or example below. Shareholder fees (fees paid directly from your investment) 20 0 0 0 Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0048 0.0048 0.0048 0.0048 0 0 0.0025 0 0.0016 0.0002 0.0016 0.0001 0.0064 0.0050 0.0089 0.0049 0 0 0 -0.0049 0.0064 0.0050 0.0089 0.0000 Example This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that your investment has a 5% return each year, and that the fund’s operating expenses remain the same. The example also assumes that any current expense limitation arrangement remains in place for the period noted in the previous table; therefore, the figures have been adjusted to reflect fee waivers or expense reimbursements only in the periods for which the expense limitation arrangement is expected to continue. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 65 205 357 798 51 160 280 628 91 284 493 1096 0 0 0 0 Portfolio Turnover The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 10.0% of the average value of its portfolio. Portfolio Turnover 0.100 Principal Investment Strategies The fund normally invests at least 65% of the fund’s total assets in stocks, with an emphasis on stocks that have a strong track record of paying dividends or that are expected to increase their dividends over time. The adviser believes that a track record of dividend increases can be an excellent indicator of financial health and growth prospects, and that over the long term, income can contribute significantly to total return. Dividends can also help reduce the fund’s volatility during periods of market turbulence and help offset losses when stock prices are falling. The adviser’s research analysts look for stocks with sustainable, above-average growth in earnings and dividends. When appropriate, the portfolio manager may attempt to buy stocks when they are temporarily out of favor or undervalued by the market. Holdings tend to be in large- and mid-cap companies. At times, the fund may have a significant portion of its assets invested in the same economic sector. In selecting investments, the adviser generally favors companies that it believes possess one or more of the following:· either a track record of, or the potential for, above-average earnings and dividend growth;· a competitive current dividend yield;· a sound balance sheet and solid cash flow to support future dividend increases;· a sustainable competitive advantage and leading market position; and· attractive valuations, such as low price/earnings, price/cash flow, or price/sales ratios.While most assets are typically invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with its objective(s). Principal Risks The fund’s share price fluctuates, which means you could lose money by investing in the fund. Dividend-paying stocks: The fund’s emphasis on dividend-paying stocks could cause the fund to underperform similar funds that invest without consideration of a company’s track record of paying dividends. Stocks of companies with a history of paying dividends may not participate in a broad market advance to the same degree as most other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce or eliminate its dividend. Market conditions: The value of the fund’s investments may decrease, sometimes rapidly or unexpectedly, due to factors affecting an issuer held by the fund, particular industries, or the overall securities markets. A variety of factors can increase the volatility of the fund’s holdings and markets generally, including economic, political, or regulatory developments, recessions, inflation, rapid interest rate changes, war, military conflict, acts of terrorism, natural disasters, and outbreaks of infectious illnesses or other widespread public health issues (such as the coronavirus pandemic) and related governmental and public responses (including sanctions). Certain events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others. Government intervention in markets may impact interest rates, market volatility, and security pricing. These adverse developments may cause broad declines in market value due to short-term market movements or for significantly longer periods during more prolonged market downturns. Stock investing: Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. There is a chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising and falling prices. The value of stocks held by the fund may decline due to general weakness or volatility in the stock markets in which the fund invests or because of factors that affect a particular company or industry. Large- and mid-cap stocks: Securities issued by large- and mid-cap companies tend to be less volatile than securities issued by small-cap companies. However, large-cap companies may not be able to attain the high growth rates of successful small-cap companies, especially during strong economic periods, and may be unable to respond as quickly to competitive challenges. The fund’s share price could fluctuate more than the share price of a fund that invests only in large-cap companies as stocks of mid-cap companies entail greater risk and are usually more volatile than stocks of large-cap companies. Sector exposure: Issuers in the same economic sector may be similarly affected by economic or market events, making the fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly. Foreign investing: Non-U.S. securities tend to be more volatile and have lower overall liquidity and trading volume than investments in U.S. securities and may lose value because of adverse local, political, social, or economic developments overseas, or due to changes in the exchange rates between foreign currencies and the U.S. dollar. Further, securities of non-U.S. issuers are subject to trading markets with potential governmental interference, varying regulatory, auditing, and accounting standards, and settlement and clearance practices that differ from those of U.S. issuers. Investment in non-U.S. securities also carries currency risk. Any attempts to hedge currency risk could be unsuccessful. Such investments may have higher transaction costs compared with U.S. markets. The fund’s overall foreign investing risk is increased to the extent it has exposure to emerging markets. Active management: The fund’s overall investment program and holdings selected by the fund’s investment adviser may underperform the broad markets, relevant indices, or other funds with similar objectives and investment strategies. Cybersecurity breaches: The fund could be harmed by intentional cyberattacks and other cybersecurity breaches, including unauthorized access to the fund’s assets, confidential information, or other proprietary information. In addition, a cybersecurity breach could cause one of the fund’s service providers or financial intermediaries to suffer unauthorized data access, data corruption, or loss of operational functionality. Performance The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Investor Class. Returns for other share classes vary since they have different expenses. The following performance information provides some indication of the risks of investing in the fund. The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Investor Class. Returns for other share classes vary since they have different expenses. The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the table may also include one or more indexes that more closely aligns to the fund’s investment strategy (Strategy Benchmark(s)). The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results. Calendar Year Returns <table cellpadding="0" cellspacing="0" style="border-collapse:collapse" width="100%"><tr style="font-size:1pt;"><td style="width:9.02%;"> </td><td style="width:14.01%;"> </td><td style="width:14.99%;"> </td><td style="width:13%;"> </td><td style="width:.49%;"> </td><td style="width:14.99%;"> </td><td style="width:14.99%;"> </td><td style="width:13%;"> </td><td style="width:5.5%;"> </td></tr><tr><td style="vertical-align:top; font-size:1pt;"> </td><td style="vertical-align:top; font-size:1pt;"> </td><td style="vertical-align:top;">Quarter Ended</td><td style="vertical-align:top;">TotalReturn</td><td style="vertical-align:top; font-size:1pt;"> </td><td style="vertical-align:top; font-size:1pt;"> </td><td style="vertical-align:top;">Quarter Ended</td><td style="vertical-align:top;">Total Return</td><td style="vertical-align:top; font-size:1pt;"> </td></tr><tr><td style="vertical-align:top; font-size:1pt;"> </td><td style="vertical-align:top; background-color:#E6E6E6;">Best Quarter</td><td style="vertical-align:top; background-color:#E6E6E6;">6/30/20</td><td style="vertical-align:top; background-color:#E6E6E6;">15.92%</td><td style="vertical-align:top; font-size:1pt;"> </td><td style="vertical-align:top; background-color:#E6E6E6;">Worst Quarter</td><td style="vertical-align:top; background-color:#E6E6E6;">3/31/20</td><td style="vertical-align:top; background-color:#E6E6E6;">-18.66%</td><td style="vertical-align:top; font-size:1pt;"> </td></tr></table> Best Quarter 2020-06-30 0.1592 Worst Quarter 2020-03-31 -0.1866 The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the table may also include one or more indexes that more closely aligns to the fund’s investment strategy (Strategy Benchmark(s)).In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. After-tax returns are shown only for the Investor Class and will differ for other share classes. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. After-tax returns are shown only for the Investor Class and will differ for other share classes. Average Annual Total Returns Periods ended December 31, 2024 1992-12-30 0.1350 0.1071 0.1138 0.1231 0.0996 0.1054 0.0887 0.0843 0.0921 2015-12-17 0.1365 0.1085 0.1255 2005-12-29 0.1321 0.1041 0.1108 2021-02-22 0.1423 0.1061 Russell 3000® Index Russell 3000® Index (reflects no deduction for fees, expenses, or taxes) 0.1394 0.2381 0.1386 0.1255 0.1135 S&P 500 Index (reflects no deduction for fees, expenses, or taxes) 0.1444 0.2502 0.1453 0.1310 0.1313 Lipper Large-Cap Core Funds Index 0.1338 0.2349 0.1333 0.1193 0.1202 Updated performance information is available through troweprice.com. troweprice.com 485BPOS 2024-12-31 0000894024 false 2025-02-25 2025-03-01 N-1A ~ http://troweprice.com/20241231/role/RRSchedule4 ~ ~ http://troweprice.com/20241231/role/RRSchedule5 ~ ~ http://troweprice.com/20241231/role/RRSchedule6 ~ ~ http://troweprice.com/20241231/role/RRBarChart7 ~ ~ http://troweprice.com/20241231/role/RRSchedule8 ~ 0.0236 0.1162 0.1932 -0.0106 0.3102 0.1393 0.2604 -0.1023 0.1365 0.135 ~ http://troweprice.com/20241231/role/RRSchedule9 ~ Subject to certain exceptions and account minimums, accounts are charged an annual $20 fee. T. Rowe Price Associates, Inc., has contractually agreed to waive and/or bear all the Z Class’ expenses (excluding interest; expenses related to borrowings, taxes, and brokerage; nonrecurring, extraordinary expenses; and acquired fund fees and expenses) in their entirety. T. Rowe Price Associates, Inc., expects this fee waiver and/or expense reimbursement arrangement to remain in place indefinitely, and the agreement may only be amended or terminated with approval by the fund’s Board of Directors. Due to new SEC Rules on shareholder reporting, the fund adopted a new broad-based securities market index, referred to as the Regulatory Benchmark. Return since 12/17/15. Return since 2/22/21.