Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO) Increases Dividend to $0.06 Per Share

Key Points

• PFO raised its monthly dividend to $0.0556 per share, representing an annualized yield of about 7.2% and a 1.8% increase from the prior $0.05; the record and ex-dividend date is May 21 and the payment date is May 29.
• The shares opened at $9.32 (down 0.2%), with a 50-day/200-day moving average of $9.33/$9.49 and a 52-week range of $8.01–$9.90.
• PFO is a closed-end fund that primarily invests in preferred and hybrid securities to provide high current income while managing credit and interest-rate risk through broad diversification.

Flaherty & Crumrine Preferred and Income Fund Inc. (NYSE:PFO - Get Free Report) announced a monthly dividend on Thursday, April 16th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.0556 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Thursday, May 21st. This is a 1.8% increase from Flaherty & Crumrine Preferred and Income Fund's previous monthly dividend of $0.05.

Flaherty & Crumrine Preferred and Income Fund Trading Down 0.2%

NYSE:PFO opened at $9.32 on Friday. The company's 50 day moving average price is $9.33 and its 200-day moving average price is $9.49. Flaherty & Crumrine Preferred and Income Fund has a 52 week low of $8.01 and a 52 week high of $9.90.

Flaherty & Crumrine Preferred and Income Fund Company Profile

Flaherty & Crumrine Preferred and Income Fund NYSE: PFO is a closed-end management investment company designed to provide investors with a high level of current income. The fund focuses its portfolio primarily on preferred and participating securities, including traditional preferred shares, convertible preferred instruments, trust preferred issues and other hybrid securities issued by corporations and financial institutions.

Through broad diversification across industry sectors and geographies, PFO aims to manage credit and interest-rate risk while pursuing attractive yield opportunities.

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