Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated Declares Regular Monthly and Special Dividend, Payable on December 30, 2016
December 13, 2016 at 06:32 am IST
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The boards of directors of Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated declared regular monthly dividends. In addition, the fund declared a special year-end dividend to be paid in December. The regular monthly dividend will continue to be $0.16 per share, which equates to an annual dividend of $1.92 per share.
In addition, shareholders will receive a special year-end dividend from net investment income of $0.02 per share. The December monthly dividend and the special year-end dividend will be paid on December 30, 2016 to holders of record of each fund's common stock on December 22, 2016. The expected ex-dividend date is December 20, 2016.
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 INC. 