Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Plans Dividend Increase – $0.07 Per Share

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Thursday, July 23rd. Investors of record on Monday, August 24th will be paid a dividend of 0.0703 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 24th. This is a 2.0% increase from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.07.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of PFD stock opened at $11.39 on Friday. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $10.98 and a 12-month high of $12.16. The firm’s 50 day moving average is $11.49 and its 200 day moving average is $11.60.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund (NYSE: PFD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income by investing primarily in preferred securities. The fund’s portfolio typically includes both U.S. and global preferred stocks, hybrid capital instruments and other fixed-income securities that pay fixed or adjustable dividends. It may also invest in investment-grade and below-investment-grade issues to capture yield opportunities across credit quality tiers.

Since its inception in 2006, PFD has aimed to deliver attractive after-tax total returns by actively managing interest-rate and credit-risk exposure.