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 given a dividend of 0.1107 per share on Friday, June 28th. This represents a $1.33 dividend on an annualized basis 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 raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Dynamic Preferred and Income Fund Stock Performance

DFP stock opened at $17.94 on Friday. Flaherty & Crumrine Dynamic Preferred and Income Fund has a 52-week low of $15.45 and a 52-week high of $19.31. The company has a 50-day moving average of $18.68 and a two-hundred day moving average of $17.81.

Institutional Investors Weigh In On Flaherty & Crumrine Dynamic Preferred and Income Fund

A number of hedge funds have recently bought and sold shares of the company. US Bancorp DE acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the second quarter valued at about $33,000. Comerica Bank acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the third quarter valued at about $42,000. FMR LLC acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the first quarter valued at about $122,000. Money Concepts Capital Corp acquired a new position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund during the fourth quarter valued at about $159,000. Finally, Bank of America Corp DE raised its position in shares of Flaherty & Crumrine Dynamic Preferred and Income Fund by 12.5% during the fourth quarter. Bank of America Corp DE now owns 9,631 shares of the company’s stock valued at $180,000 after buying an additional 1,070 shares during the last quarter.

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.