PFD and PFO Announce Regular Monthly Dividends and Special Year-End Dividends
December 11 2013 - 8:04PM
Business Wire
The Boards of Directors of Flaherty & Crumrine Preferred
Income Fund Incorporated (NYSE: PFD) and Flaherty &
Crumrine Preferred Income Opportunity Fund Incorporated (NYSE:
PFO) today declared regular monthly dividends and special
year-end dividends to be paid in December.
The regular monthly dividend rate for PFD will continue to be
$0.09 per share, which equates to an annual dividend of $1.08 per
share. In addition, shareholders will receive a special year-end
dividend from net investment income of $0.08 per share.
The regular monthly dividend rate for PFO will continue to be
$0.073 per share, which equates to an annual dividend of $0.876 per
share. In addition, shareholders will receive a special year-end
dividend from net investment income of $0.073 per share.
The December monthly dividend and the special year-end dividend
will be paid on December 31, 2013 to holders of record of each
fund’s common stock on December 23, 2013. The expected ex-dividend
date is December 19, 2013. The tax breakdown of all 2013
distributions will be available early next year, but at this point
the funds anticipate that all dividends paid in 2013, including the
special year-end dividend, will be taxable as income and not
capital gains.
Past performance is not indicative of future performance. 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,
www.preferredincome.com. A distribution rate that is largely
comprised of sources other than income may not be reflective of a
fund’s performance.
PFD was organized in 1991 and PFO was organized in 1992 as
closed-end funds which invest primarily in preferred securities.
Each Fund’s investment objective for holders of its common stock is
high current income consistent with preservation of capital. PFD
and PFO 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
securities. Flaherty & Crumrine also manages three other U.S.
closed-end funds: Flaherty & Crumrine Preferred Securities
Income Fund (NYSE: FFC); Flaherty & Crumrine Total Return Fund
(NYSE: FLC); and Flaherty & Crumrine Dynamic Preferred and
Income Fund (NYSE: DFP).
PRESS, ANALYST, SHAREHOLDER INQUIRIES:Flaherty & Crumrine
IncorporatedDonald F. Crumrine or Chad Conwell, 626-795-7300
Funds' Website: www.preferredincome.com
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