BlackRock Floating Rate Income Strategies Fund, Inc.

FRA

Financial Services · Asset Management · Stock · monthly payer

$9.87

Fairly valued · +3% Add to Portfolio

Forward Yield

15.06%

Annual Dividend

$1.49

Payout Ratio

383%

5-Yr Growth

10.0%

Ex-Date

Nov 13, 2026

Frequency

Monthly

Key facts about FRA's dividend

Data as of Oct 27, 2026 · Source: SmarterDividends data

As of Oct 27, 2026, BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) has a forward dividend yield of 15.06%, based on an annual dividend of $1.49 per share and a share price of $9.87.
As of Oct 27, 2026, FRA's dividend safety grade from SmarterDividends is C (55 out of 100), which rates the dividend as borderline.
FRA last cut its regular dividend in 2021.
FRA's next ex-dividend date is Nov 13, 2026, with payment on Nov 30, 2026. Shares must be owned before that date to receive the dividend.
As of Oct 27, 2026, FRA pays out 383% of its trailing 12-month earnings as dividends (its payout ratio).
FRA's dividend has grown at an average rate of 10.0% a year over the past five years.
As of Oct 27, 2026, FRA's 15.06% yield is 63% above its five-year average yield of 9.27%.
As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for FRA is $10.19 per share, 3% above the $9.87 share price, so FRA screens as fairly valued.
BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) pays its dividend monthly, 12 times a year.
BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) has raised its regular dividend 17 times and cut it 12 times across the 273 payments on record since 2004. Its most recent change was a 6.0% increase to $0.124 per share, going ex-dividend on Dec 14, 2023. The last cut went ex-dividend on Dec 14, 2020.

Cite this page

SmarterDividends, "FRA Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/FRA

Summary

As of Oct 27, 2026, BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) yields 15.06% ($1.49 a year per share) and has a dividend safety grade of C (55/100).

Is FRA a good dividend stock?

Mixed

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) pays a monthly dividend yielding 15.06% ($1.49/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

Strong 10.0% 5-yr dividend growth

Risks

Cut its dividend in 2021
Elevated payout ratio (383%)
Very high yield can signal elevated risk
Share price is down over the past 5 years

Key Data

Dividend Yield: 15.06%
Payout Ratio: 383%
Annual Dividend: $1.49
5-Yr Avg Growth: 10.0%
Ex-Dividend Date: Nov 13, 2026
Years of Growth: 0
Frequency: monthly
Beta: 0.43
Market Cap: $349.7M
P/E Ratio: 25.3
5-Yr Total Return: -27%
52-Week Range: $9.65 – $12.71
Dividend Safety: C · 55/100
Ever Cut?: Yes (2021)

FRA dividend raises and cuts

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) has raised its regular dividend 17 times and cut it 12 times across the 273 payments on record since 2004. Its most recent change was a 6.0% increase to $0.124 per share, going ex-dividend on Dec 14, 2023. The last cut went ex-dividend on Dec 14, 2020.

Ex-date	Change	Old → new	Move
Dec 14, 2023	Raise	$0.117 → $0.124	+6.0%
Jun 14, 2023	Raise	$0.112 → $0.117	+4.5%
Mar 14, 2023	Raise	$0.0800 → $0.112	+40.0%
Oct 13, 2022	Raise	$0.0670 → $0.0800	+19.4%
Dec 14, 2020	Cut	$0.0790 → $0.0670	−15.2%
Oct 11, 2019	Raise	$0.0700 → $0.0790	+12.9%
Mar 14, 2019	Raise	$0.0650 → $0.0700	+7.7%
Jul 13, 2018	Raise	$0.0610 → $0.0650	+6.6%
Oct 13, 2015	Cut	$0.0670 → $0.0610	−9.0%
Oct 10, 2014	Cut	$0.0700 → $0.0670	−4.3%
Mar 12, 2014	Cut	$0.0760 → $0.0700	−7.9%
Dec 11, 2013	Raise	$0.0750 → $0.0760	+1.3%

Show all 29 changes since 2004

Ex-date	Change	Old → new	Move
Oct 11, 2013	Cut	$0.0760 → $0.0750	−1.3%
Sep 12, 2013	Raise	$0.0750 → $0.0760	+1.3%
Jul 11, 2013	Cut	$0.0770 → $0.0750	−2.6%
Jun 11, 2010	Cut	$0.0820 → $0.0770	−6.1%
Sep 11, 2009	Cut	$0.0900 → $0.0820	−8.9%
Jun 11, 2009	Cut	$0.105 → $0.0900	−14.3%
Mar 12, 2009	Cut	$0.115 → $0.105	−8.7%
Feb 11, 2009	Cut	$0.123 → $0.115	−6.5%
Dec 29, 2008	Raise	$0.115 → $0.123	+7.0%
Nov 12, 2008	Cut	$0.125 → $0.115	−8.0%
Sep 12, 2007	Raise	$0.121 → $0.125	+3.3%
Sep 13, 2006	Raise	$0.113 → $0.121	+7.1%
Jun 9, 2006	Raise	$0.108 → $0.113	+4.6%
Sep 12, 2005	Raise	$0.104 → $0.108	+3.8%
Jul 12, 2005	Raise	$0.0960 → $0.104	+8.3%
Feb 11, 2005	Raise	$0.0870 → $0.0960	+10.3%
Dec 8, 2004	Raise	$0.0750 → $0.0870	+16.0%

Every FRA payment →Download every raise and cut (CSV)

FRA ex-dividend date & scheduleNext ex-date Nov 13, 2026 · full ex-dividend historyView →FRA dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is FRA a good dividend stock?

Mixed. BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) pays a monthly dividend yielding 15.06% ($1.49/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.

Is FRA undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, FRA's fair value is about $10.19 versus a $9.87 share price — so it looks fairly valued (+3% vs. fair value).

Is FRA's dividend safe?

FRA has a dividend-safety grade of C (55/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2021, debt and yield-versus-history.

What is FRA's fair value?

Our blended fair-value estimate for FRA is about $10.19 per share, roughly 3% above the current $9.87 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is FRA a buy, hold, or sell?

We don't issue formal ratings, but on the data FRA screens as "mixed" and fairly valued. BlackRock Floating Rate Income Strategies Fund, Inc. (FRA) pays a monthly dividend yielding 15.06% ($1.49/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. This is research for your own analysis, not investment advice.

Will FRA cut its dividend?

FRA earns a dividend-safety grade of C (55/100), and has cut its dividend before (last in 2021). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does FRA pay a dividend?

Yes. BlackRock Floating Rate Income Strategies Fund, Inc. pays a monthly dividend of about $1.49 per share annually, a forward yield of roughly 15.06%.

What is FRA's dividend yield?

As of Oct 27, 2026, FRA's forward dividend yield is 15.06%, based on a $1.49 annual dividend and a $9.87 share price.

What is FRA's dividend per share?

As of Oct 27, 2026, FRA pays $1.49 per share per year, distributed on a monthly basis.

What is FRA's dividend payout ratio?

As of Oct 27, 2026, FRA's payout ratio is 383% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has FRA grown its dividend?

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

When is the next FRA ex-dividend date?

As of Oct 27, 2026, the next ex-dividend date on record for FRA is Nov 13, 2026.

Dividend Growth

Total dividends per share by year

Dividend History

Full FRA dividend history →

Ex-Date	Pay Date	Amount	Type
Oct 15, 2026	Oct 30, 2026	$0.1240	regular
Sep 15, 2026	Sep 30, 2026	$0.1240	regular
Aug 14, 2026	Aug 31, 2026	$0.1240	regular
Jul 15, 2026	Jul 31, 2026	$0.1240	regular
Jun 15, 2026	Jun 30, 2026	$0.1240	regular
May 15, 2026	May 29, 2026	$0.1240	regular
Apr 15, 2026	Apr 30, 2026	$0.1240	regular
Mar 13, 2026	Mar 31, 2026	$0.1240	regular
Feb 13, 2026	Feb 27, 2026	$0.1240	regular
Jan 20, 2026	Jan 30, 2026	$0.1240	regular
Dec 22, 2025	Dec 31, 2025	$0.1240	regular
Nov 14, 2025	Nov 28, 2025	$0.1240	regular
Oct 15, 2025	Oct 31, 2025	$0.1240	regular
Sep 15, 2025	Sep 30, 2025	$0.1240	regular