FLC CEF — Flaherty & Crumrine Total Return Fund

Flaherty & Crumrine Total Return Fund (FLC)

FLC is a CEF. its distribution rate is 7.97%, its trailing-12-month yield is 7.88%, its expense ratio is 1.64%. Dividend Vision Distribution Safety Score™ is 67/100 (Generally safe). Total return is 333.1% over the past 23.1 years, 731.4 points behind SPY at 1064.5%.

At the current 7.97% distribution rate, a $10,000 investment would generate approximately $797 per year, or $66.42 per month.

FLC performance versus SPY

Price and return data through 2026-09-21.

Total return is 333.1% over the past 23.1 years, 731.4 points behind SPY at 1064.5%. Over the past year its total return — price change plus distributions reinvested — is -3.1%. Its deepest 1-year drawdown was 8.3%.

FLC key facts

Distribution Safety Score™

67 · Generally safe

Safety-Adjusted Yield

5.34%

Issuer

Flaherty & Crumrine

Asset type

CEF

Asset class

Fixed Income

Inception date

08/29/2003

Expense ratio

1.64%

Distribution rate

7.97%

Distribution frequency

Monthly

Trailing yield

7.88%

5-year average yield

7.31

Last close

$16.12 (as of 2026-09-21)

NAV

$18.26

Premium / discount

11.72% discount

Market cap

$168,563,968

Average volume

60300.0

Last dividend

$0.107

Last ex-dividend date

08/24/2026 (as of 2026-08-24)

Last payment date

08/31/2026 (as of 2026-08-31)

Beta

0.641

How Dividend Vision calculates yield and returns

Distribution rate (7.97%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (7.88%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. 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.

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.

FLC risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.3%.

Who may consider FLC — 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.

Frequently asked questions

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