Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated Announces Increased Monthly Dividend and Special Year End Dividend, Payable on December 31, 2013
December 11, 2013 at 08:04 pm
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The Board of Directors of Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated announced an increased monthly dividend rate.
The new regular monthly dividend rate for DFP will be $0.16 per share, which equates to an annual dividend of $1.92 per share. This new monthly dividend represents an increase of approximately 2.5% from the prior monthly dividend. In addition, shareholders will receive a special year-end dividend from net investment income of $0.052 per share. The December monthly dividend and the special year-end dividend will be paid on December 31, 2013 to holders of record of each fund's common stock on December 23, 2013. The expected ex-dividend date is December 19, 2013.
Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (the Fund) is a diversified, closed-end management investment company. The Fundâs investment objective is to seek total return, with an emphasis on high current income. The Fund invests at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by the United States (U.S.) and non-U.S. companies, including traditional preferred stock, hybrid and trust preferred securities that have characteristics of both equity and debt securities, contingent capital securities, subordinated debt, and senior debt. The Fund invests in various sectors, such as banking, financial services, insurance, utilities, energy, communication, and real estate investment trust (REIT). The investment manager of the Fund is Flaherty & Crumrine Incorporated.
Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated Announces Increased Monthly Dividend and Special Year End Dividend, Payable on December 31, 2013
FLAHERTY & CRUMRINE DYNAMIC PREFERRED AND INCOME FUND INC. 