PFD, PFO, FFC, FLC and DFP Announce February, March and April Dividends

The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have declared per share dividends for February, March and April 2022 as detailed below:

February

March

April

PFD

$0.0825

PFO

$0.0670

FFC

$0.1240

FLC

$0.1280

DFP

$0.1580

Payment Date

February 28, 2022

March 31, 2022

April 29, 2022

Record Date

February 18, 2022

March 24, 2022

April 22, 2022

Ex-Dividend Date

February 17, 2022

March 23, 2022

April 21, 2022

Each fund’s fiscal year ends on November 30, 2022. The tax breakdown of all 2022 distributions will be available early in 2023, but at this point each fund anticipates that each of its dividends detailed above will consist of net investment income and not capital gains or return of capital.

Website: www.preferredincome.com

Past performance is not indicative of future performance. An investor should consider the fund’s investment objective, risks, charges and expenses carefully before investing.

To the extent any portion of the distribution is estimated to be sourced from something other than income, such as return of capital, the source would be disclosed on a Section 19(a)-1 letter located under the “SEC Filings and News” section of the funds’ website. The actual amounts and sources of the amounts for tax reporting purposes will depend upon a fund’s investment performance during the remainder of its fiscal year and may be subject to change based on tax regulations. A distribution rate that is largely comprised of sources other than income may not be reflective of a fund’s performance.

PFD, PFO and FFC invest primarily in preferred and other income-producing securities with an investment objective of high current income consistent with preservation of capital. FLC invests primarily in preferred and other income-producing securities with a primary investment objective of high current income and a secondary objective of capital appreciation. DFP invests primarily in preferred and other income-producing securities with an investment objective of total return, with an emphasis on high current income. PFD, PFO, FFC, FLC and DFP are managed by Flaherty & Crumrine Incorporated, an independent investment adviser which was founded in 1983 to specialize in the management of portfolios of preferred and related income-producing securities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005987/en/

Flaherty & Crumrine Incorporated Chad Conwell, 626-795-7300

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