FFC and FLC Announce Increased Monthly Dividends
July 20 2010 - 6:15PM
Business Wire
The Boards of Directors of Flaherty & Crumrine/Claymore
Preferred Securities Income Fund Incorporated (NYSE: FFC)
and Flaherty & Crumrine/Claymore Total Return Fund Incorporated
(NYSE: FLC) have approved new dividend amounts on their
common stock as detailed below.
The new monthly dividend rate for FFC will be $0.125 per share,
which equates to an annual dividend of $1.50 per share. This new
monthly dividend represents an increase of approximately 4.2% over
the prior monthly dividend.
The new monthly dividend rate for FLC will be $0.132 per share,
which equates to an annual dividend of $1.584 per share. This new
monthly dividend represents an increase of approximately 5.6% over
the prior monthly dividend.
These dividend rates will be effective with the dividends to be
paid on August 31, 2010. Record and expected ex-dividend dates will
be announced early next month.
FFC and FLC were organized in 2003 as closed-end, diversified
investment companies. FFC invests primarily in preferred securities
with an investment objective of high current income consistent with
preservation of capital. FLC invests primarily in preferred and
other income-producing securities with a primary investment
objective of high current income and a secondary objective of
capital appreciation. FFC and FLC are managed by Flaherty &
Crumrine Incorporated, an independent investment adviser which was
founded in 1983 to specialize in the management of portfolios of
preferred and related securities. Flaherty & Crumrine also
manages two other U.S. closed-end funds: Flaherty & Crumrine
Preferred Income Fund (NYSE: PFD); and Flaherty & Crumrine
Preferred Income Opportunity Fund (NYSE: PFO).
Website: www.fcclaymore.com
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