Flaherty & Crumrine Total Return Fund Inc. Announces New Regular Monthly Dividend Rate, Payable on August 31, 2017
July 20, 2017 at 10:37 pm
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Flaherty & Crumrine Total Return Fund Inc. announced that the regular monthly dividend rate for FLC will be $0.126 per share, which equates to an annual dividend of $1.512 per share. This new monthly dividend represents a decrease of approximately 5.3% from the prior monthly dividend. The August monthly dividend will be paid on August 31, 2017 to holders of record of each fund's common stock on August 24, 2017. The expected ex-dividend date is August 22, 2017.
Flaherty & Crumrine Total Return Fund Incorporated (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide its common shareholders with high current income. Its secondary investment objective is capital appreciation. The Fund invests at least 80% of its total assets in a diversified portfolio of preferred securities and other income-producing securities, consisting of various debt securities. It invests at least 25% of its total assets in the financial sector, which is comprised of the bank, thrifts and mortgage finance, diversified financial services, consumer finance, capital markets, asset management and custody, investment banking and brokerage, insurance, and real estate investment trust (REIT) industries. The Fund also focuses its investments in other sectors, such as energy, industrials, utilities, communications and pipelines. Flaherty & Crumrine Incorporated is the investment advisor of the Fund.