SmarterDividends
FPF

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

First Trust Intermediate Duration Preferred & Income Fund · Financial Services · Asset Management · monthly payer

$15.79

Undervalued · +43% Add to Portfolio

As of Nov 8, 2026, First Trust Intermediate Duration Preferred & Income Fund (FPF) pays a monthly dividend of $0.1380 per share, or $1.65 a year, a 10.45% yield at its $15.79 share price. It pays every month. It has a dividend safety grade of C.

Forward Yield

10.45%

Annual Dividend

$1.65

Payout Ratio

67%

5-Yr Growth

0.9%

Ex-Date

Nov 2, 2026

Frequency

Monthly

Key facts about FPF's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 8, 2026, First Trust Intermediate Duration Preferred & Income Fund (FPF) has a forward dividend yield of 10.45%, based on an annual dividend of $1.65 per share and a share price of $15.79.
  • As of Nov 8, 2026, FPF's dividend safety grade from SmarterDividends is C (59 out of 100), which rates the dividend as borderline.
  • FPF last cut its regular dividend in 2023.
  • FPF's most recent ex-dividend date was Nov 2, 2026, for a dividend of $0.14 per share.
  • As of Nov 8, 2026, FPF pays out 67% of its trailing 12-month earnings as dividends (its payout ratio).
  • FPF's dividend has grown at an average rate of 0.9% a year over the past five years.
  • As of Nov 8, 2026, FPF's 10.45% yield is 30% above its five-year average yield of 8.05%.
  • As of Nov 8, 2026, SmarterDividends' blended fair-value estimate for FPF is $22.51 per share, 43% above the $15.79 share price, so FPF screens as undervalued.
  • First Trust Intermediate Duration Preferred & Income Fund (FPF) pays its dividend monthly, 12 times a year.
  • First Trust Intermediate Duration Preferred & Income Fund (FPF) has raised its regular dividend 5 times and cut it 6 times across the 160 payments on record since 2013. Its most recent change was a 27.8% increase to $0.138 per share, going ex-dividend on Dec 1, 2023. The last cut went ex-dividend on Mar 2, 2023.
Cite this page

SmarterDividends, "FPF Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 8, 2026, https://smarterdividends.com/stocks/FPF

Is FPF a good dividend stock?

Yes, with caveats

First Trust Intermediate Duration Preferred & Income Fund (FPF) pays a monthly dividend yielding 10.45% ($1.65/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Advantages

    Risks

    • Cut its dividend in 2023
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    10.45%
    Payout Ratio
    67%
    Annual Dividend
    $1.65
    5-Yr Avg Growth
    0.9%
    Ex-Dividend Date
    Nov 2, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    —
    Market Cap
    $960.8M
    P/E Ratio
    6.4
    5-Yr Total Return
    -36%
    52-Week Range
    $15.11 – $19.36
    Dividend Safety
    C · 59/100
    Ever Cut?
    Yes (2023)

    FPF dividend raises and cuts

    First Trust Intermediate Duration Preferred & Income Fund (FPF) has raised its regular dividend 5 times and cut it 6 times across the 160 payments on record since 2013. Its most recent change was a 27.8% increase to $0.138 per share, going ex-dividend on Dec 1, 2023. The last cut went ex-dividend on Mar 2, 2023.

    Ex-dateChangeOld → newMove
    Dec 1, 2023Raise$0.108 → $0.138+27.8%
    Mar 2, 2023Cut$0.113 → $0.108−4.4%
    Sep 1, 2022Cut$0.128 → $0.113−11.7%
    Nov 2, 2020Cut$0.133 → $0.128−3.8%
    Oct 1, 2019Cut$0.143 → $0.133−7.0%
    May 1, 2018Cut$0.153 → $0.143−6.5%
    May 1, 2017Cut$0.163 → $0.153−6.1%
    Dec 1, 2014Raise$0.158 → $0.163+3.2%
    Oct 1, 2014Raise$0.153 → $0.158+3.3%
    Dec 2, 2013Raise$0.152 → $0.153+0.7%
    Sep 3, 2013Raise$0.152 → $0.153+0.7%
    Every FPF payment →Download every raise and cut (CSV)
    FPF ex-dividend date & scheduleNext ex-date Nov 2, 2026 · full ex-dividend historyView →FPF dividend historyEvery payment, totals by year, raises and cutsView →FPF dividend calculator100 shares pay $165.00 a year, $13.75 each monthCalculate →FPF total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

    Frequently Asked Questions

    Is FPF a good dividend stock?

    Yes, with caveats. First Trust Intermediate Duration Preferred & Income Fund (FPF) pays a monthly dividend yielding 10.45% ($1.65/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

    Is FPF undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, FPF's fair value is about $22.51 versus a $15.79 share price — so it looks undervalued (+43% vs. fair value).

    Is FPF's dividend safe?

    FPF has a dividend-safety grade of C (59/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

    What is FPF's fair value?

    Our blended fair-value estimate for FPF is about $22.51 per share, roughly 43% above the current $15.79 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is FPF a buy, hold, or sell?

    We don't issue formal ratings, but on the data FPF screens as "yes, with caveats" and undervalued. First Trust Intermediate Duration Preferred & Income Fund (FPF) pays a monthly dividend yielding 10.45% ($1.65/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

    Will FPF cut its dividend?

    FPF earns a dividend-safety grade of C (59/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does FPF pay a dividend?

    Yes. First Trust Intermediate Duration Preferred & Income Fund pays a monthly dividend of about $1.65 per share annually, a forward yield of roughly 10.45%.

    How much dividend does 100 shares of FPF pay?

    At $1.65 per share a year, 100 shares of FPF pay $165.00 a year in dividends before tax, about $13.75 each month. Buying them costs about $1,579 at the Nov 8, 2026 price.

    What is FPF's dividend yield?

    As of Nov 8, 2026, FPF's forward dividend yield is 10.45%, based on a $1.65 annual dividend and a $15.79 share price.

    What is FPF's dividend per share?

    As of Nov 8, 2026, FPF pays $1.65 per share per year, distributed on a monthly basis.

    What is FPF's dividend payout ratio?

    As of Nov 8, 2026, FPF's payout ratio is 67% of trailing 12-month earnings — a moderate level that's generally sustainable.

    How many years has FPF grown its dividend?

    FPF does not currently have a long dividend-growth streak on record.

    When is the next FPF ex-dividend date?

    As of Nov 8, 2026, FPF's next ex-dividend date hasn't been announced. The most recent was Nov 2, 2026, for $0.14 per share.

    Income Calculator

    At $1.65 / yr per share

    Per payment (monthly)$13.75
    Annual$165.00
    Monthly avg$13.75
    Full FPF dividend calculator →

    Similar Dividend Stocks

    JPMJPMJPMorgan Chase & Co.1.97%Financial ServicesVVVisa Inc.0.74%Financial ServicesMAMAMastercard Incorporated0.53%Financial ServicesBACBACBank of America Corporation2.59%Financial Services

    Compare FPF

    FPF vs JPMFPF vs VFPF vs MAFPF vs BAC

    Explore more

    Lists and tools related to FPF