First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) to Issue $0.14 Monthly Dividend

First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) declared a monthly dividend on Monday, April 22nd, Wall Street Journal reports. Shareholders of record on Thursday, May 2nd will be given a dividend of 0.1375 per share on Wednesday, May 15th. This represents a $1.65 annualized dividend and a yield of 9.61%. The ex-dividend date of this dividend is Wednesday, May 1st.

First Trust Intermediate Duration Preferred & Income Fund has decreased its dividend by an average of 4.8% annually over the last three years.

First Trust Intermediate Duration Preferred & Income Fund Stock Performance

FPF opened at $17.17 on Wednesday. The company’s fifty day moving average price is $17.49 and its two-hundred day moving average price is $16.40. First Trust Intermediate Duration Preferred & Income Fund has a 1-year low of $13.91 and a 1-year high of $18.09.

First Trust Intermediate Duration Preferred & Income Fund Company Profile

First Trust Intermediate Duration Preferred & Income Fund is a closed end fixed income mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Stonebridge Advisors, LLC. It invests in fixed income markets. The fund will also invest in below investment-grade securities like junk or high-yield securities.