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 Tuesday, July 23rd, Wall Street Journal reports. Investors of record on Thursday, August 1st will be given a dividend of 0.1375 per share on Thursday, August 15th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 9.00%. The ex-dividend date of this dividend is Thursday, August 1st.

First Trust Intermediate Duration Preferred & Income Fund has decreased its dividend by an average of 7.4% per year over the last three years.

First Trust Intermediate Duration Preferred & Income Fund Stock Up 0.7 %

Shares of FPF stock traded up $0.13 during trading on Tuesday, reaching $18.34. 117,646 shares of the company’s stock were exchanged, compared to its average volume of 159,508. First Trust Intermediate Duration Preferred & Income Fund has a twelve month low of $13.91 and a twelve month high of $18.49. The firm’s fifty day moving average price is $17.93 and its 200-day moving average price is $17.54.

About First Trust Intermediate Duration Preferred & Income Fund

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.