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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Thursday, October 17th,Wall Street Journal reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.061 per share by the real estate investment trust on Friday, November 29th. This represents a $0.73 annualized dividend and a dividend yield of 6.47%. 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% annually over the last three years.

Flaherty & Crumrine Preferred Income Fund Price Performance

NYSE:PFD opened at $11.32 on Tuesday. Flaherty & Crumrine Preferred Income Fund has a 1 year low of $9.42 and a 1 year high of $12.08. The business has a fifty day moving average of $11.74 and a 200-day moving average of $11.05.

About Flaherty & Crumrine Preferred Income Fund

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.