First Trust Intermediate Duration Preferred & Income Fund Increases its Monthly Common Share Distribution to $0.1375 Per Share for December

First Trust Intermediate Duration Preferred & Income Fund (the "Fund") (NYSE: FPF) has increased its regularly scheduled monthly common share distribution to $0.1375 per share from $0.1075 per share. The distribution will be payable on December 15, 2023, to shareholders of record as of December 4, 2023. The ex-dividend date is expected to be December 1, 2023. The monthly distribution information for the Fund appears below.

First Trust Intermediate Duration Preferred & Income Fund (FPF):

       

Distribution per share:

       

$0.1375

Distribution Rate based on the November 17, 2023 NAV of $17.53:

       

9.41%

Distribution Rate based on the November 17, 2023 closing market price of $15.23:

       

10.83%

Increase from previous distribution of $0.1075:

       

27.91%

 

       

 

This distribution will be paid out of net investment income earned by the Fund and return of capital. The final determination of the source and tax status of all 2023 distributions will be made after the end of 2023 and will be provided on Form 1099-DIV.

The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically. First Trust Advisors L.P. ("FTA") believes the practice may benefit the Fund's market price and premium/discount to the Fund's NAV. The practice has no impact on the Fund's investment strategy and may reduce the Fund's NAV.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. The Fund has a secondary objective of capital appreciation. The Fund seeks to achieve its investment objectives by investing in preferred and other income-producing securities. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by U.S. and non-U.S. companies, including traditional preferred securities, hybrid preferred securities that have investment and economic characteristics of both preferred securities and debt securities, floating-rate and fixed-to-floating rate preferred securities, debt securities, convertible securities and contingent convertible securities.