Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (DFP) to Issue Monthly Dividend of $0.11 on June 28th

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Friday, June 21st will be given a dividend of 0.1107 per share on Friday, June 28th. This represents a $1.33 dividend on an annualized basis and a yield of 7.40%. The ex-dividend date is Friday, June 21st. This is an increase from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11.

Flaherty & Crumrine Dynamic Preferred and Income Fund has decreased its dividend by an average of 8.3% annually over the last three years and has raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Dynamic Preferred and Income Fund Price Performance

DFP stock opened at $17.94 on Friday. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 52 week low of $15.45 and a 52 week high of $19.31. The company’s 50-day moving average price is $18.68 and its 200 day moving average price is $17.82.

Institutional Trading of Flaherty & Crumrine Dynamic Preferred and Income Fund

Several institutional investors and hedge funds have recently modified their holdings of DFP. US Bancorp DE purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the second quarter valued at about $33,000. Comerica Bank purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the third quarter valued at about $42,000. FMR LLC purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the first quarter valued at about $122,000. Money Concepts Capital Corp purchased a new stake in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund in the fourth quarter valued at about $159,000. Finally, Bank of America Corp DE raised its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 12.5% in the fourth quarter. Bank of America Corp DE now owns 9,631 shares of the company’s stock valued at $180,000 after buying an additional 1,070 shares during the last quarter.

Flaherty & Crumrine Dynamic Preferred and Income Fund Company Profile

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc is a closed ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors.