FFC and FLC Announce Regular Monthly Dividends and Special Year-End Dividends
December 12 2011 - 4:37PM
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) today declared the regular monthly dividend and
declared a special year-end dividend to be paid in December.
The regular monthly dividend rate for FFC will continue to be
$0.136 per share, which equates to an annual dividend of $1.632 per
share. In addition, shareholders will receive a special year-end
dividend from net investment income of $0.07 per share.
The regular monthly dividend rate for FLC will continue to be
$0.1395 per share, which equates to an annual dividend of $1.674
per share. In addition, shareholders will receive a special
year-end dividend from net investment income of $0.055 per
share.
The December monthly dividend and the special year-end dividend
will be paid on December 30, 2011 to holders of record of each
fund’s common stock on December 22, 2011. The expected ex-dividend
date is December 20, 2011. The tax breakdown of all 2011
distributions will be available early next year, but at this point
the funds anticipate that all dividends paid in 2011, including the
special year-end dividend, will be taxable as income and not
capital gains.
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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