Flaherty & Crumrine Investment Grade Preferred Income Fund Declares Special Year End Distribution
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TORONTO, Dec. 19, 2019 (GLOBE NEWSWIRE) -- (TSX: FFI.UN) For the year ended December 31, 2019, Flaherty & Crumrine Investment Grade Preferred Income Fund (the “Fund”) estimates that it will generate income of approximately $0.02 per unit in excess of its previously announced distributions for the year. As a result, the Fund is pleased to announce a special cash distribution of $0.02 per unit to unitholders of record at the close of business on December 31, 2019. The special cash distribution will be paid on or before January 15, 2020.
Special year-end distributions have been paid by the Fund in eight of the last nine years as income also exceeded regular annual distributions during those years. The Fund has paid out $17.17 per unit in cash distributions since inception through to November 30, 2019.
Unitholders are reminded that the Fund offers a distribution reinvestment plan (“DRIP”) which provides unitholders with the ability to automatically reinvest distributions and realize the benefits of compound growth of their investment. Unitholders can enroll in a DRIP program by contacting their investment advisor.
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Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
