PFD, PFO, FFC, FLC and DFP Announce Dividends for November

Flaherty & Crumrine Preferred and Income Fund Incorporated (PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (FFC), Flaherty & Crumrine Total Return Fund Incorporated (FLC), and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (DFP) recently announced their per share dividends for November 2025. The dividends are as follows: PFD at $0.0647, PFO at $0.0525, FFC at $0.0977, FLC at $0.1000, and DFP at $0.1223. All dividends will be paid on November 28, 2025, to shareholders on record as of November 20, 2025.

Each fund's fiscal year concludes on November 30, 2025, and detailed tax breakdowns of the distributions will be made available early in 2026. As part of their commitment to transparency, any portion of the distribution sourced from returns of capital, rather than income, will be disclosed in the Section 19(a)-1 letter accessible through the SEC Filings and News section of the funds’ website.

PFD, PFO, and FFC focus on generating high current income while preserving capital through investments in preferred and other income-producing securities. FLC not only seeks high current income but also aims for capital appreciation. DFP targets total return with an emphasis on high current income.

These funds are managed by Flaherty & Crumrine Incorporated, an independent adviser established in 1983, specializing in the management of preferred and related income-producing securities. Investors are encouraged to evaluate the funds' investment objectives, risks, charges, and expenses before investing. For more information, visit their website at www.preferredincome.com.

As we approach November 2025, Flaherty & Crumrine’s funds (PFD, PFO, FFC, FLC, and DFP) have announced notable dividend distributions, reflecting their commitment to delivering steady income to investors. Here's a breakdown of each fund's declared dividends: PFD at $0.0647, PFO at $0.0525, FFC at $0.0977, FLC at $0.1000, and DFP at $0.1223. These dividends signal stability and an attractive yield, especially in a potentially volatile market environment.

Investors should consider the investment strategies of each fund. PFD, PFO, and FFC focus on preferred and income-producing securities aimed at high current income while preserving capital. This makes them suitable for conservative investors seeking reliable income streams. In contrast, FLC places significant emphasis on capital appreciation alongside income, which may appeal to investors looking for moderate growth. DFP aims for total returns with a focus on high current income, making it an ideal choice for those wanting a blend of growth and yield.

The payment date is set for November 28, 2025, with a record date of November 20, indicating a timely opportunity for investors to secure these dividends. However, being mindful of the tax implications is crucial, as future distributions may incorporate return of capital elements. Therefore, flexibility in investment strategy is advisable based on potential changes in tax legislation in 2026.

Overall, these dividend announcements reflect a stable income generation capability for Flaherty & Crumrine’s funds. With careful consideration of each fund’s investment objective and the prevailing market conditions, investors can strategically position themselves to benefit from these upcoming payouts, positioning their portfolios to capture both income and potential capital appreciation.