Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) Declares Dividend Increase – $0.11 Per Share

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (NYSE:DFP) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.1107 per share on Friday, June 28th. This represents a $1.33 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend is Friday, June 21st. This is a positive change from Flaherty & Crumrine Dynamic Preferred and Income Fund’s previous monthly dividend of $0.11.

Flaherty & Crumrine Dynamic Preferred and Income Fund has decreased its dividend payment by an average of 8.3% per year over the last three years and has increased its dividend every year for the last 1 years.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Down 0.4 %

NYSE:DFP traded down $0.07 during mid-day trading on Friday, reaching $17.94. 39,896 shares of the company’s stock traded hands, compared to its average volume of 52,048. The company has a 50 day moving average price of $18.69 and a 200-day moving average price of $17.80. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 12-month low of $15.45 and a 12-month high of $19.31.

Hedge Funds Weigh In On Flaherty & Crumrine Dynamic Preferred and Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Flaherty & Crumrine Dynamic Preferred and Income Fund by 3.2% in the 3rd quarter. Invesco Ltd. now owns 264,211 shares of the company’s stock valued at $4,431,000 after acquiring an additional 8,112 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 1.9% during the 2nd quarter. LPL Financial LLC now owns 220,516 shares of the company’s stock valued at $4,739,000 after buying an additional 4,105 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 69.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 206,733 shares of the company’s stock valued at $3,473,000 after buying an additional 84,730 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 9.9% during the 2nd quarter. Osaic Holdings Inc. now owns 65,096 shares of the company’s stock valued at $1,134,000 after buying an additional 5,885 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 1.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 62,356 shares of the company’s stock valued at $1,132,000 after buying an additional 795 shares during the period.

About Flaherty & Crumrine Dynamic Preferred and Income Fund

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc is a closed ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors.