Flaherty & Crumrine Total Return Fund (FLC) Declares $0.09 Dividend

Flaherty & Crumrine Total Return Fund said on April 20, 2023 that its board of directors declared a regular monthly dividend of $0.09 per share ($1.07 annualized). Previously, the company paid $0.10 per share.

Shares must be purchased before the ex-div date of May 22, 2023 to qualify for the dividend. Shareholders of record as of May 23, 2023 will receive the payment on May 31, 2023.

At the current share price of $14.88 / share, the stock's dividend yield is 7.18%. Looking back five years and taking a sample every week, the average dividend yield has been 7.09%, the lowest has been 5.76%, and the highest has been 11.55%. The standard deviation of yields is 0.80 (n=196).

The current dividend yield is 0.11 standard deviations above the historical average.

The company's 3-Year dividend growth rate is -0.17%.

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What is the Fund Sentiment?

There are 37 funds or institutions reporting positions in Flaherty & Crumrine Total Return Fund. This is an increase of 7 owner(s) or 23.33% in the last quarter. Average portfolio weight of all funds dedicated to FLC is 0.03%, a decrease of 19.06%. Total shares owned by institutions increased in the last three months by 4.93% to 1,119K shares.

What are Other Shareholders Doing?

Bank Of America holds 302K shares. In it's prior filing, the firm reported owning 370K shares, representing a decrease of 22.83%. The firm decreased its portfolio allocation in FLC by 99.92% over the last quarter.

Sowell Financial Services holds 217K shares. In it's prior filing, the firm reported owning 232K shares, representing a decrease of 7.14%. The firm decreased its portfolio allocation in FLC by 99.94% over the last quarter.

Invesco holds 126K shares. In it's prior filing, the firm reported owning 104K shares, representing an increase of 17.29%. The firm decreased its portfolio allocation in FLC by 99.99% over the last quarter.

PCEF - Invesco CEF Income Composite ETF holds 106K shares. In it's prior filing, the firm reported owning 84K shares, representing an increase of 20.46%. The firm increased its portfolio allocation in FLC by 19.05% over the last quarter.

LPL Financial holds 102K shares. In it's prior filing, the firm reported owning 99K shares, representing an increase of 3.59%. The firm decreased its portfolio allocation in FLC by 7.02% over the last quarter.

Flaherty & Crumrine Total Return Fund Background Information
(This description is provided by the company.)

The Fund’s investment objective is high current income for holders of its common stock. Under normal market conditions, the Fund invests at least 50% of its “Managed Assets” in a portfolio of preferred securities issued by U.S. and non-U.S. companies, including traditional preferred stock, trust preferred securities, and hybrid securities that have characteristics of both equity and debt securities.

This story originally appeared on Fintel.