DFP CEF — Flaherty & Crumrine Dynamic Preferred and Income Fund

Flaherty & Crumrine Dynamic Preferred and Income Fund (DFP)

Updated November 6, 2026.

DFP is a CEF. Its distribution rate is 8.22%, its trailing-12-month yield is 8.22%, its expense ratio is 1.7754%. Dividend Vision Distribution Safety Score™ is 64/100 (Generally safe). Total return is 110.1% over the past 13.5 years, 347.2 points behind SPY at 457.3%.

Flaherty & Crumrine Dynamic Preferred and Income Fund is a closed-end fund that seeks total return with an emphasis on high current income by investing primarily in preferred stocks, hybrid securities, convertible securities, and corporate bonds, with concentration in the banking and insurance sectors. The fund distributes income monthly at a high distribution rate. This fund appeals to income-focused investors seeking regular cash distributions from a diversified portfolio of fixed-income and preferred securities.

DFP performance versus SPY

As of Nov 5, 2026

Total return is 110.1% over the past 13.5 years, 347.2 points behind SPY at 457.3%. Over the past year its total return — price change plus distributions reinvested — is -6.5%. Its deepest 1-year drawdown was 11.4%.

DFP key facts

Distribution Safety Score™

64 · Generally safe

Safety-Adjusted Yield

5.26%

Issuer

Flaherty & Crumrine

Asset type

CEF

Asset class

Fixed Income

Inception date

05/24/2013

Expense ratio

1.7754%

Distribution rate

8.22%

Distribution frequency

Monthly

Trailing yield

8.22%

5-year average yield

7.53

Last close

$19.18 (as of 2026-11-06)

NAV

$21.33

Premium / discount

Premium not shown · NAV date unknown

Market cap

$386,938,496

Average volume

68,046

Dividend

$0.1314

Ex-dividend date

11/20/2026

Payment date

11/30/2026

Beta

0.3678

AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage. ?

How Dividend Vision calculates yield and returns

Distribution rate (8.22%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (8.22%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Flaherty & Crumrine or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DFP risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 11.4%.

Who may consider DFP — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on DFP

• All tickers starting with D

Tagged: Preferred Stock, Fixed Income, CEF.

Frequently asked questions

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