First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) to Issue $0.14 Monthly Dividend

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Tuesday, January 21st,Wall Street Journal reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.1375 per share on Tuesday, February 18th. This represents a $1.65 annualized dividend and a yield of 8.89%. The ex-dividend date is Monday, February 3rd.

First Trust Intermediate Duration Preferred & Income Fund has increased its dividend payment by an average of 2.6% per year over the last three years.

First Trust Intermediate Duration Preferred & Income Fund Trading Down 0.8 %

Shares of FPF stock traded down $0.16 on Wednesday, reaching $18.56. 141,376 shares of the stock were exchanged, compared to its average volume of 137,198. The firm has a 50 day moving average of $18.42 and a two-hundred day moving average of $18.64. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $16.50 and a 1-year high of $19.74.

About First Trust Intermediate Duration Preferred & Income Fund

First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.