PASADENA, Calif.--(BUSINESS WIRE)--The Board of Directors of Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP or the “Fund”), a closed-end management investment company, declared its initial monthly dividend of $0.156. The Fund’s initial monthly dividend equates to a 7.49% distribution yield based upon the Fund’s initial offer price of $25.00 and an 8.18% yield on net asset value as of June 21, 2013.
The Fund’s July dividend will be paid on July 31, 2013 to shareholders of record as of July 12, 2013. The expected ex-dividend date is July 10, 2013.
The Board of Directors of the Fund has also declared the Fund’s monthly dividend for August 2013 and September 2013 in the amount of $0.156 per share.
The Fund’s August 2013 dividend will be paid on August 30, 2013 to shareholders of record as of August 23, 2013. The expected ex-dividend date for the Fund’s August dividend is August 21, 2013. The Fund’s September 2013 dividend will be paid on September 30, 2013 to shareholders of record as of September 23, 2013. The expected ex-dividend date for the Fund’s September dividend is September 19, 2013.