Flaherty & Crumrine Pref. Income Fd Inc. (PFD) Announces $0.08 Monthly Dividend
Flaherty & Crumrine Pref. Income Fd Inc. (NYSE:PFD) announced a monthly dividend on Friday, July 20th, Wall Street Journal reports. Stockholders of record on Friday, August 24th will be given a dividend of 0.078 per share by the real estate investment trust on Friday, August 31st. This represents a $0.94 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Thursday, August 23rd.
Flaherty & Crumrine Pref. Income Fd has decreased its dividend payment by an average of 1.7% annually over the last three years.
Shares of NYSE:PFD traded up $0.08 during midday trading on Friday, hitting $13.67. 7,578 shares of the stock were exchanged, compared to its average volume of 28,848. Flaherty & Crumrine Pref. Income Fd has a 12 month low of $13.19 and a 12 month high of $16.34.
Flaherty & Crumrine Preferred Income Fund Incorporated is a diversified, closed-end management investment company. The Fund’s investment objective is to provide its common shareholders with high current income consistent with the preservation of capital. It invests in a portfolio of preferred securities, which includes traditional preferred stocks and taxable preferred securities.
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