FFC and FLC Announce Increased Regular Monthly Dividends
20 July 2011 - 8:06AM
Business Wire
The Boards of Directors of Flaherty & Crumrine/Claymore
Preferred Securities Income Fund Incorporated (NYSE: FFC)
and Flaherty & Crumrine/Claymore Total Return Fund Incorporated
(NYSE: FLC) today approved new regular monthly dividend
amounts to be paid in August.
The new regular monthly dividend rate for FFC will be $0.136 per
share, which equates to an annual dividend of $1.632 per share.
This new monthly dividend represents an increase of approximately
4.6% over the prior monthly dividend.
The new regular monthly dividend rate for FLC will be $0.1395
per share, which equates to an annual dividend of $1.674 per share.
This new monthly dividend represents an increase of approximately
3.3% over the prior monthly dividend.
The August monthly dividend will be paid on August 31, 2011.
Record and expected ex-dividend dates will be announced early next
month.
Donald F. Crumrine, Chairman of the Boards of the funds, said
“We are very pleased that both funds continue to deliver on their
objectives of high current income. The continued recovery of the
funds’ net asset values allowed them to increase their borrowings
throughout the first half of the fiscal year. Earnings from that
additional borrowing, together with very low borrowing costs,
allows the funds to earn additional income that can be distributed
to shareholders.”
FFC and FLC were organized in 2003 as closed-end, diversified
investment companies. FFC invests primarily in preferred 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. FFC and FLC 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 two other U.S. closed-end funds: Flaherty & Crumrine
Preferred Income Fund (NYSE: PFD); and Flaherty & Crumrine
Preferred Income Opportunity Fund (NYSE: PFO).
Website: www.fcclaymore.com
Flaherty and Crumrine To... (NYSE:FLC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Flaherty and Crumrine To... (NYSE:FLC)
Historical Stock Chart
From Oct 2023 to Oct 2024