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WHEATON, Ill. - First Trust Intermediate Duration Preferred & Income Fund (NYSE:FPF) announced Monday a monthly distribution of $0.1375 per share, payable on August 15, 2025, to shareholders of record as of August 1, 2025.
The distribution represents an 8.58% rate based on the fund’s July 18 net asset value of $19.23, and an 8.88% rate based on its closing market price of $18.58 on the same date. According to InvestingPro, the fund has maintained consistent dividend payments for 13 consecutive years, making it an attractive option for income-focused investors.
According to the fund’s statement, the majority or possibly all of this distribution will come from net investment income earned, though a portion may derive from net short-term realized capital gains or return of capital. The final determination of the distribution’s source and tax status will be made after the end of 2025. The fund has demonstrated strong financial health, earning a GREAT rating from InvestingPro’s comprehensive analysis system.
FPF is a diversified, closed-end management investment company that aims to provide high current income with a secondary objective of capital appreciation. The fund invests at least 80% of its managed assets in preferred and income-producing securities issued by U.S. and non-U.S. companies.
First Trust Advisors L.P. serves as the fund’s investment advisor, with Stonebridge Advisors LLC acting as sub-advisor. As of June 30, 2025, First Trust had approximately $278 billion in assets under management or supervision, while Stonebridge managed approximately $12.8 billion in assets.
The fund maintains a practice of seeking relatively stable monthly distributions, which First Trust Advisors believes may benefit the fund’s market price and premium/discount to its NAV, though this practice could potentially reduce the fund’s NAV. The strategy appears to be working well, with the fund posting a positive year-to-date return of 7.96% while maintaining relatively low price volatility, as noted by InvestingPro analysts.
This information was disclosed in a press release statement from the fund.
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