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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) declared a monthly dividend on Monday, October 21st, Wall Street Journal reports. Shareholders 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 6.11%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Flaherty & Crumrine Preferred Income Fund’s previous monthly dividend of $0.06.

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

Flaherty & Crumrine Preferred Income Fund Stock Down 0.1 %

Shares of PFD stock opened at $11.99 on Tuesday. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $8.54 and a 12-month high of $12.08. The stock’s 50-day moving average price is $11.66 and its 200-day moving average price is $10.84.

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.