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

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Friday, June 21st will be paid a dividend of 0.0583 per share by the real estate investment trust on Friday, June 28th. This represents a $0.70 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend is Friday, June 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 payment by an average of 10.7% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Preferred Income Fund Stock Up 0.2 %

Shares of NYSE PFD opened at $9.93 on Friday. Flaherty & Crumrine Preferred Income Fund has a 12-month low of $8.53 and a 12-month high of $10.92. The company has a 50-day moving average of $10.29 and a 200 day moving average of $9.89.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

Several large investors have recently bought and sold shares of the business. Comerica Bank grew its stake in Flaherty & Crumrine Preferred Income Fund by 226.7% during the 4th quarter. Comerica Bank now owns 7,481 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 5,191 shares in the last quarter. Royal Bank of Canada grew its stake in Flaherty & Crumrine Preferred Income Fund by 8.0% during the 4th quarter. Royal Bank of Canada now owns 59,665 shares of the real estate investment trust’s stock valued at $589,000 after acquiring an additional 4,411 shares in the last quarter. UBS Group AG grew its stake in Flaherty & Crumrine Preferred Income Fund by 30.5% during the 3rd quarter. UBS Group AG now owns 178,049 shares of the real estate investment trust’s stock valued at $1,626,000 after acquiring an additional 41,636 shares in the last quarter. Wells Fargo & Company MN grew its stake in Flaherty & Crumrine Preferred Income Fund by 52.8% during the 2nd quarter. Wells Fargo & Company MN now owns 25,115 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 8,675 shares in the last quarter. Finally, Centaurus Financial Inc. grew its stake in Flaherty & Crumrine Preferred Income Fund by 15.8% during the 1st quarter. Centaurus Financial Inc. now owns 100,069 shares of the real estate investment trust’s stock valued at $1,062,000 after acquiring an additional 13,633 shares in the last quarter.

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.