Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) Plans Dividend Increase – $0.06 Per Share

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) announced a monthly dividend on Monday, October 21st, Wall Street Journal reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 0.061 per share by the real estate investment trust on Friday, November 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Thursday, November 21st. This is a boost from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

Flaherty & Crumrine Preferred Income Fund has decreased its dividend by an average of 10.7% per year over the last three years.

Flaherty & Crumrine Preferred Income Fund Stock Performance

Shares of NYSE:PFD traded down $0.01 during midday trading on Monday, hitting $11.99. 21,135 shares of the stock were exchanged, compared to its average volume of 34,245. The business’s 50-day moving average price is $11.64 and its 200 day moving average price is $10.83. Flaherty & Crumrine Preferred Income Fund has a 12 month low of $8.54 and a 12 month high of $12.08.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.