2023 Return of Capital and Reclassifications

Return of Capital

If a T. Rowe Price fund pays out more in distributions than it earned during the year, you do not owe tax on your share of the excess amount, which is called a "nontaxable distribution" or "return of capital." We report this type of distribution in Box 3 of Form 1099-DIV. You will need to subtract any amounts reported in Box 3 of Form 1099-DIV from the cost basis of your shares. For information on IRS Form 8937 and organizational actions affecting the basis of securities, including items such as mergers, fund liquidations, and reclassifications that affect cost basis, commonly referred to as "corporate actions," please visit our website at Corporate Actions.

Listed below are the 2023 dividends paid by the T. Rowe Price funds that have a return of capital for Form 1099-DIV purposes.

2023 Return of Capital

T. Rowe Price Fund 2023 Payment Date Per Share Amount Tax Character
Before After
Dynamic Global Bond 1/31/2023 $0.017074220 Income Dividend Return of Capital
Dynamic Global Bond 2/28/2023 $0.023859648 Income Dividend Return of Capital
Dynamic Global Bond 3/31/2023 $0.029521641 Income Dividend Return of Capital
Dynamic Global Bond 4/28/2023 $0.044039701 Income Dividend Return of Capital
Dynamic Global Bond 5/31/2023 $0.034626950 Income Dividend Return of Capital
Dynamic Global Bond 6/30/2023 $0.038125045 Income Dividend Return of Capital
Dynamic Global Bond 7/31/2023 $0.019426665 Income Dividend Return of Capital
Dynamic Global Bond 8/31/2023 $0.032463335 Income Dividend Return of Capital
Dynamic Global Bond 9/29/2023 $0.015024425 Income Dividend Return of Capital
Dynamic Global Bond 10/31/2023 $0.016846712 Income Dividend Return of Capital
Dynamic Global Bond 11/30/2023 $0.024413492 Income Dividend Return of Capital
Dynamic Global Bond - I Class 1/31/2023 $0.018233892 Income Dividend Return of Capital
Dynamic Global Bond - I Class 2/28/2023 $0.025007935 Income Dividend Return of Capital
Dynamic Global Bond - I Class 3/31/2023 $0.030729576 Income Dividend Return of Capital
Dynamic Global Bond - I Class 4/28/2023 $0.045028459 Income Dividend Return of Capital
Dynamic Global Bond - I Class 5/31/2023 $0.035708748 Income Dividend Return of Capital
Dynamic Global Bond - I Class 6/30/2023 $0.039442750 Income Dividend Return of Capital
Dynamic Global Bond - I Class 7/31/2023 $0.020574202 Income Dividend Return of Capital
Dynamic Global Bond - I Class 8/31/2023 $0.033880845 Income Dividend Return of Capital
Dynamic Global Bond - I Class 9/29/2023 $0.016634005 Income Dividend Return of Capital
Dynamic Global Bond - I Class 10/31/2023 $0.018722095 Income Dividend Return of Capital
Dynamic Global Bond - I Class 11/30/2023 $0.025597739 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 1/31/2023 $0.023260332 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 2/28/2023 $0.021827908 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 3/31/2023 $0.027702084 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 4/28/2023 $0.022054246 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 5/31/2023 $0.024260552 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 6/30/2023 $0.026399230 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 7/31/2023 $0.023405859 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 8/31/2023 $0.025429690 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 9/29/2023 $0.023538114 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 10/31/2023 $0.022238668 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 11/30/2023 $0.023237405 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 1/31/2023 $0.024277827 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 2/28/2023 $0.023096116 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 3/31/2023 $0.029016123 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 4/28/2023 $0.023258101 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 5/31/2023 $0.025647418 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 6/30/2023 $0.027848424 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 7/31/2023 $0.024532003 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 8/31/2023 $0.026692399 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 9/29/2023 $0.024861872 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 10/31/2023 $0.023594688 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 11/30/2023 $0.024539857 Income Dividend Return of Capital
Global High Income Bond 1/31/2023 $0.042058873 Income Dividend Return of Capital
Global High Income Bond 2/28/2023 $0.0397195710 Income Dividend Return of Capital
Global High Income Bond 3/31/2023 $0.048390293 Income Dividend Return of Capital
Global High Income Bond 4/28/2023 $0.041878096 Income Dividend Return of Capital
Global High Income Bond 5/31/2023 $0.045560047 Income Dividend Return of Capital
Global High Income Bond 6/30/2023 $0.048256133 Income Dividend Return of Capital
Global High Income Bond 7/31/2023 $0.044063640 Income Dividend Return of Capital
Global High Income Bond 8/31/2023 $0.047888996 Income Dividend Return of Capital
Global High Income Bond 9/29/2023 $0.048816575 Income Dividend Return of Capital
Global High Income Bond 10/31/2023 $0.048017096 Income Dividend Return of Capital
Global High Income Bond 11/30/2023 $0.047199460 Income Dividend Return of Capital
Global High Income Bond - I Class 1/31/2023 $0.042962246 Income Dividend Return of Capital
Global High Income Bond - I Class 2/28/2023 $0.040586999 Income Dividend Return of Capital
Global High Income Bond - I Class 3/31/2023 $0.049391406 Income Dividend Return of Capital
Global High Income Bond - I Class 4/28/2023 $0.042734727 Income Dividend Return of Capital
Global High Income Bond - I Class 5/31/2023 $0.046526859 Income Dividend Return of Capital
Global High Income Bond - I Class 6/30/2023 $0.049246076 Income Dividend Return of Capital
Global High Income Bond - I Class 7/31/2023 $0.044972455 Income Dividend Return of Capital
Global High Income Bond - I Class 8/31/2023 $0.048849930 Income Dividend Return of Capital
Global High Income Bond - I Class 9/29/2023 $0.049775483 Income Dividend Return of Capital
Global High Income Bond - I Class 10/31/2023 $0.048922946 Income Dividend Return of Capital
Global High Income Bond - I Class 11/30/2023 $0.048136990 Income Dividend Return of Capital
Global Real Estate 3/30/2023 $0.115300000 Income Dividend Return of Capital
Global Real Estate 6/29/2023 $0.102500000 Income Dividend Return of Capital
Global Real Estate 9/28/2023 $0.105800000 Income Dividend Return of Capital
Global Real Estate 12/19/2023 $0.091700000 Income Dividend Return of Capital
Global Real Estate - I Class 3/30/2023 $0.124100000 Income Dividend Return of Capital
Global Real Estate - I Class 6/29/2023 $0.110400000 Income Dividend Return of Capital
Global Real Estate - I Class 9/28/2023 $0.114500000 Income Dividend Return of Capital
Global Real Estate - I Class 12/19/2023 $0.100000000 Income Dividend Return of Capital
International Bond 1/31/2023 $0.009298506 Income Dividend Return of Capital
International Bond 2/28/2023 $0.007803827 Income Dividend Return of Capital
International Bond 3/31/2023 $0.013201644 Income Dividend Return of Capital
International Bond 4/28/2023 $0.015125022 Income Dividend Return of Capital
International Bond 5/31/2023 $0.017831367 Income Dividend Return of Capital
International Bond 6/30/2023 $0.022084787 Income Dividend Return of Capital
International Bond 7/31/2023 $0.016214643 Income Dividend Return of Capital
International Bond 8/31/2023 $0.016435819 Income Dividend Return of Capital
International Bond 9/29/2023 $0.013157209 Income Dividend Return of Capital
International Bond 10/31/2023 $0.016227095 Income Dividend Return of Capital
International Bond 11/30/2023 $0.015743366 Income Dividend Return of Capital
International Bond - I Class 1/31/2023 $0.010096257 Income Dividend Return of Capital
International Bond - I Class 2/28/2023 $0.008555705 Income Dividend Return of Capital
International Bond - I Class 3/31/2023 $0.014115442 Income Dividend Return of Capital
International Bond - I Class 4/28/2023 $0.015897726 Income Dividend Return of Capital
International Bond - I Class 5/31/2023 $0.018687601 Income Dividend Return of Capital
International Bond - I Class 6/30/2023 $0.022974388 Income Dividend Return of Capital
International Bond - I Class 7/31/2023 $0.017023036 Income Dividend Return of Capital
International Bond - I Class 8/31/2023 $0.017271618 Income Dividend Return of Capital
International Bond - I Class 9/29/2023 $0.013961579 Income Dividend Return of Capital
International Bond - I Class 10/31/2023 $0.016999415 Income Dividend Return of Capital
International Bond - I Class 11/30/2023 $0.016546486 Income Dividend Return of Capital
International Bond (USD Hedged) 1/31/2023 $0.010744725 Income Dividend Return of Capital
International Bond (USD Hedged) 2/28/2023 $0.009324616 Income Dividend Return of Capital
International Bond (USD Hedged) 3/31/2023 $0.014353432 Income Dividend Return of Capital
International Bond (USD Hedged) 4/28/2023 $0.016603501 Income Dividend Return of Capital
International Bond (USD Hedged) 5/31/2023 $0.019819080 Income Dividend Return of Capital
International Bond (USD Hedged) 6/30/2023 $0.024139244 Income Dividend Return of Capital
International Bond (USD Hedged) 7/31/2023 $0.017430020 Income Dividend Return of Capital
International Bond Fund(USD Hedged) 8/31/2023 $0.0179133110 Income Dividend Return of Capital
International Bond (USD Hedged) 9/29/2023 $0.014238768 Income Dividend Return of Capital
International Bond (USD Hedged) 10/31/2023 $0.017527799 Income Dividend Return of Capital
International Bond (USD Hedged) 11/30/2023 $0.018530083 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 1/31/2023 $0.012147208 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 2/28/2023 $0.010919835 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 3/31/2023 $0.016041138 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 4/28/2023 $0.018190364 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 5/31/2023 $0.021291172 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 6/30/2023 $0.026109006 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 7/31/2023 $0.018897779 Income Dividend Return of Capital
International Bond Fund(USD Hedged) - I Class 8/31/2023 $0.019290096 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 9/29/2023 $0.015226167 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 10/31/2023 $0.019121745 Income Dividend Return of Capital
International Bond (USD Hedged) - I Class 11/30/2023 $0.020226843 Income Dividend Return of Capital
Retirement Income 2020 1/19/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 2/17/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 3/17/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 4/19/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 5/17/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 6/20/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 7/19/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 8/17/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 9/19/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 10/18/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 11/17/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 12/19/2023 $0.042300000 Income Dividend Return of Capital
Retirement Income 2020 12/28/2023 $0.119900000 Long-Term Capital Gain Return of Capital
Total Return 1/31/2023 $0.029796341 Income Dividend Return of Capital
Total Return 2/28/2023 $0.030892559 Income Dividend Return of Capital
Total Return 3/31/2023 $0.036171688 Income Dividend Return of Capital
Total Return 4/28/2023 $0.031917162 Income Dividend Return of Capital
Total Return - I Class 1/31/2023 $0.030727942 Income Dividend Return of Capital
Total Return - I Class 2/28/2023 $0.031786657 Income Dividend Return of Capital
Total Return - I Class 3/31/2023 $0.037225278 Income Dividend Return of Capital
Total Return - I Class 4/28/2023 $0.032819599 Income Dividend Return of Capital

Reclassifications

A reclassification means that the tax character of the dividend on your Form 1099-DIV is different than the tax character reported on your statement, which reported the dividend to you. Tax character indicates whether the dividend is from taxable or tax-exempt income or is a short-term or long-term gain.

Listed below are the 2023 dividends paid by the T. Rowe Price funds that have been reclassified for Form 1099-DIV purposes.

T. Rowe Price Fund 2023 Payment Date Per Share Amount Tax Character
Before After
Real Estate 12/18/2023 $0.093700000 Income Dividend Long-Term Capital Gain
Real Estate - I Class 12/28/2023 $0.100000000 Income Dividend Long-Term Capital Gain

*Amounts after reclassification only represent the reclassified amount and not necessarily the fund’s total per share for that category.

For more information on Advisor, R, Institutional, and Portfolio funds, please visit our website for financial intermediaries.

202401-3308524

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