First Trust Intermediate Duration Preferred & Income Fund
FPFFinancial Services · Stock · monthly payer
Forward Yield
9.17%
Annual Dividend
$1.65
Payout Ratio
65%
5-Yr Growth
0.9%
Ex-Date
Jul 1, 2026
Frequency
Monthly
Summary
As of July 2026, First Trust Intermediate Duration Preferred & Income Fund (FPF) yields 9.17% ($1.65 per share annually), with a blended fair-value estimate of $20.76 — +15% upside, so it screens as undervalued. Dividend safety grade: C (51/100).
Is FPF a good dividend stock?
MixedFirst Trust Intermediate Duration Preferred & Income Fund (FPF) pays a monthly dividend yielding 9.17% ($1.65/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
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
- 9.17%
- Payout Ratio
- 65%
- Annual Dividend
- $1.65
- 5-Yr Avg Growth
- 0.9%
- Ex-Dividend Date
- Jul 1, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- —
- Market Cap
- $1.1B
- P/E Ratio
- 7.1
- 5-Yr Total Return
- -31%
- 52-Week Range
- $17.21 – $19.75
- Dividend Safety
- C · 51/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
FPF Price — Last 12 Months
Daily close
Price Return
1 Year
-7%
3 Years
+18%
5 Years
-31%
52-Week Range
$17.21 – $19.75
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is FPF worth?
Undervaluedhigh confidenceOur blended fair-value estimate for First Trust Intermediate Duration Preferred & Income Fund is $20.76 per share, versus a market price of $17.99. That implies 15% of upside — a margin of safety of about 13%.
Fair Value
$20.76
Current Price
$17.99
Upside
+15%
Margin of Safety
13%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 0.9% annual free-cash-flow growth. We model 0.7% — so the price already assumes faster growth than we think is likely.
Assumptions: 9.3% discount rate (CAPM), 0.7% stage-1 growth, 2.5% terminal growth, $2.54 EPS, $1.65 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
FPF Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 1, 2026 | — | $0.1380 | regular |
| Jun 1, 2026 | — | $0.1380 | regular |
| May 1, 2026 | — | $0.1380 | regular |
| Apr 1, 2026 | — | $0.1380 | regular |
| Mar 2, 2026 | — | $0.1380 | regular |
| Feb 2, 2026 | — | $0.1380 | regular |
| Dec 31, 2025 | — | $0.1380 | regular |
| Dec 1, 2025 | — | $0.1380 | regular |
| Nov 3, 2025 | — | $0.1380 | regular |
| Oct 1, 2025 | — | $0.1380 | regular |
| Sep 2, 2025 | — | $0.1380 | regular |
| Aug 1, 2025 | — | $0.1380 | regular |
| Jul 1, 2025 | — | $0.1380 | regular |
| Jun 2, 2025 | — | $0.1380 | regular |
Income Calculator
At $1.65 / yr per share
