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DFP · Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.

Know the company

Company overview

Flaherty & Crumrine Dynamic Preferred and Income Fund owns preferred and other income securities, with substantial exposure to financial companies. Company payments provide income, while bank credit and rate moves affect the portfolio value.

Business: Preferred securities CEF
Listing: DFP · New York Stock Exchange
Reporting period: 2026-05-31
Dividend schedule: Monthly

How the business works

Preferred dividends and bond interest become net investment income after expenses and financing. Changes in company strength, call terms and security prices can move NAV separately.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: financial report supporting reported earnings

Dividend & earnings snapshot

Dividend payments

Per common share

$0.1314Reviewed declaration · Payment Oct 30, 2026

Regular dividend

Announced Jul 23, 2026

Dates and company reports

Announcement: Jul 23, 2026
Declaration: Jul 23, 2026
Ex-dividend: Not confirmed
Record: Oct 23, 2026
Payment: Oct 30, 2026

Dividend declaration for payment Oct 30, 2026 · www.preferredincome.com · Announced Jul 23, 2026

Extras are shown separately and are not assumed to repeat.

Reported earnings

Each measure shown separately, per share

Net investment income$0.78

Dec 1, 2025 to May 31, 2026

Distribution yield7.99%Sourced distributions divided by dated market price

Reported annual income yield6.60%Reported net investment income $1.4100 per share for 2024-12-01 to 2025-11-30, divided by approved 2025-11-28 market price $21.3500. Excludes capital gains; historical, not a current yield or forecast.

Reported annual investment income$1.41Per share for 2025 FY. Excludes investment gains.

Annual dividend$1.58Current regular payment annualized per share

Dividend payment history

Date or month	Per share
Sep 30, 2026	$0.1314
Aug 31, 2026	$0.1314

Reported earnings and sources

Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.

Reporting period	Per share	Source
Dec 1, 2025 to May 31, 2026	$0.78	SEC Announced Jul 31, 2026

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Dec 1, 2025 to May 31, 2026	$22.52	-1.23%	$0.80	+2.61%	DFP SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Dec 1, 2024 to Nov 30, 2025	$22.80	+1.97%	$1.44	+9.30%	DFP SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Dec 1, 2023 to Nov 30, 2024	$22.36	+13.50%	$1.31	+21.43%	DFP SEC financial highlights. Reported cash includes all components; partial periods are not annualized.

View older history (up to 7 years)

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Dec 1, 2022 to Nov 30, 2023	$19.70	-5.56%	$1.60	+3.02%	DFP SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Dec 1, 2021 to Nov 30, 2022	$20.86	-22.25%	$1.74	-16.05%	DFP SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Dec 1, 2020 to Nov 30, 2021	$26.83	+1.21%	$1.96	Not available	Fund financial highlights for the exact share class and reporting period.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

How to read DFP income

Dividends and interest after fund expenses help explain the cash available for distributions. Gains and return of capital remain separate.

Watch payment suspensions, refinancing and any borrowing costs. Higher yields can come with greater credit or interest-rate risk.

Income and distributions

Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Dividends and interest after fund expenses help explain the cash available for distributions. Gains and return of capital remain separate.

Reporting period	Net investment income/share	Total distributions/share	Income coverage
2025-12-01 to 2026-05-31	$0.78	$0.80	97.5%
2024-12-01 to 2025-11-30	$1.41	$1.44	97.9%
2023-12-01 to 2024-11-30	$1.26	$1.31	96.2%

View older history (up to 7 years)

Reporting period	Net investment income/share	Total distributions/share	Income coverage
2022-12-01 to 2023-11-30	$1.25	$1.60	78.1%
2021-12-01 to 2022-11-30	$1.68	$1.74	96.6%
2020-12-01 to 2021-11-30	$1.85	$1.96	94.4%

The assets behind the earnings

How DFP makes money

Financial snapshot: 2026-05-31. Research reviewed 2026-09-18. Compare results for the reporting periods shown. Historical results are not a forecast.

The assets it owns

$454.714 million net assets264 holdings · As of 5/31/2026

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2025-12-01 through 2026-05-31 · $ per share

Fund net investment income per common share; actual reporting period, not annualized$0.7800

For the six months ended May 31, 2026, DFP reported $0.78 of net investment income per common share and $0.80 of common distributions. Those amounts were close for the same period; the next report will show whether that relationship held.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: financial report supporting reported earnings

The income-producing business

Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: financial report supporting reported earnings

Financing can amplify income and losses

The portfolio information checked September 11, 2026 reports effective leverage of 37.94%.

Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: net assets and portfolio information, checked 2026-09-11

What the reported earnings support

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. reported $0.7800 per share for 2025-12-01 through 2026-05-31, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: financial report supporting reported earnings

Portfolio risk

Losses or weaker cash generation in preferred and financial-sector securities can reduce the resources available for future distributions.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: financial report supporting reported earnings

Distribution sustainability

A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Flaherty & Crumrine Dynamic Preferred and Income Fund Inc.: financial report supporting reported earnings

What would change the earnings picture?

Compare the next matching income and cash figures, then watch financial companies, preferred calls, financing costs and NAV.

Net asset value (NAV)

NAV per share$21.47Sep 29, 2026

Market price$18.97Sep 29, 2026

PREMIUM / DISCOUNT TO NAV11.64% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Fly High context

Compare the next matching income and cash figures, then watch financial companies, preferred calls, financing costs and NAV.

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U.S. federal · Tax year 2025

Dividend tax treatment

The fund designated all 2025 distributions as ordinary dividends. The mix can change from year to year.

This company information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.

Total ordinary dividends: 100%
Qualified dividends: Not confirmed
Capital-gain distributions: 0%
Return of capital: 0%

Tax year: 2025.

Tax details and source

Total ordinary dividends (includes qualified): 100%
Section 199A portion (within ordinary dividends): Not confirmed
Exempt-interest distributions: 0%
Reporting form: Form 1099-DIV
Source date: Not stated

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

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