Flaherty & Crumrine Preferred Securities Income Fund Inc. (FFC)
Financial Services · NYQ
Fundamentals
Valuation and ratings
Flaherty & Crumrine Preferred Securities Income Fund Inc. trades at USD16.19, close to the USD17.63 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 62 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 11.0 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
FFC dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.610 | 6 |
| 2025 | USD1.17 | 12 |
| 2024 | USD1.08 | 12 |
| 2023 | USD1.05 | 12 |
| 2022 | USD1.37 | 12 |
| 2021 | USD1.53 | 12 |
| 2020 | USD1.45 | 12 |
| 2019 | USD1.36 | 12 |
| 2018 | USD1.37 | 12 |
| 2017 | USD1.49 | 12 |
| 2016 | USD1.62 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Flaherty & Crumrine Preferred Securities Income Fund Inc.
Flaherty & Crumrine Preferred Securities Income Fund Inc. is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors. The fund primarily invests in investment grade preferred securities consisting of hybrid or taxable preferreds. It employs quantitative analysis to create its portfolio. The fund benchmarks the performance of its portfolio against the Merrill Lynch 8% Capped DRD Preferred Stock Index, Merrill Lynch Hybrid Preferred Securities Index, and Merrill Lynch Adjustable Preferred Stock 7% Constrained Index. It was formerly known as Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated. Flaherty & Crumrine Preferred Securities Income Fund Inc. was formed on May 23, 2002 and is domiciled in the United States.
FFC passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Flaherty & Crumrine Preferred Securities Income Fund Inc. (FFC) undervalued?
Against our discounted cash flow estimate of USD17.63, FFC at USD16.19 is 9% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is FFC's P/E ratio?
FFC trades at 11.0 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Flaherty & Crumrine Preferred Securities Income Fund Inc. (FFC) pay a dividend?
Yes. Flaherty & Crumrine Preferred Securities Income Fund Inc. yields 7.38% at the current share price. It has paid USD1.22 per share over the trailing twelve months. It has paid a dividend in each of the last 23 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.