Shares of T. Rowe Price (TROW - Get Report) will trade ex-dividend Monday, Dec. 14. To qualify for a dividend check, investors must own shares of the financial services company on or before its ex-dividend date. That's the day T. Rowe management will finalize its roster of shareholders to whom it will send dividend payments.

But unless you have a high frustration threshold, I wouldn't hold T. Rowe Price stock once you collect that dividend.

T. Rowe Price is scheduled to pay its 52-cent quarterly dividend on Wednesday, Dec. 30 to shareholders of record as of Tuesday, Dec. 15. This amounts to roughly eight trading days (excluding Christmas) between the pay date and record date -- a relatively short period of time.

Based on the stock price of around $73.75, the dividend yields about 2.82% annually -- some 82 basis points higher than the 2.00% yield paid out by the average stock in the S&P 500 (SPX) index.

Sure, it's a decent yield to collect. But once the dividend has been paid, holding T. Rowe Price shares, which are down 14% in 2015 and 12% in the past 12 months, doesn't make sense. (Those declines include a 4% rise in the shares just in the past three months.) All told, T. Rowe Price shares have advanced just 13.7% in the past three years, trailing both the Dow Jones Industrial Average (DJI) (up 34% in three years) and the S&P 500 index (up 45% in three years).

Headquartered in Baltimore, T. Rowe Price provides investment advisory services to both individual investors and institutional investors in sponsored mutual funds and other managed investment portfolios. Founded by Thomas Rowe Price, Jr., in 1937, the company's assets under management come from a diversified client base, including U.S.-based defined contribution retirement plans. But it's a highly competitive and crowded space, causing T. Rowe Price to miss Wall Street's earnings targets in three out of five quarters.

And based on fiscal 2016 consensus estimates of $4.79 a share, which would make for 4.8% earnings growth, that's not enough earnings power to risk on a chronically underperforming stock. Not to mention, T. Rowe Price's projected 2016 earnings growth is below the 5% growth average for the S&P 500 index.

In other words, you could roll the dice on stocks in the S&P 500 and could get a better performing stock, better earnings growth prospects and a decent dividend yield. Better still, you could save yourself years of frustration.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.