First Trust Intermediate Duration Preferred & Income Fund Declares its Monthly Common Share Distribution of $0.1425 Per
Share for December
First Trust Intermediate Duration Preferred & Income Fund (the "Fund") (NYSE: FPF) has declared the Fund’s regularly
scheduled monthly common share distribution in the amount of $0.1425 per share payable on December 17, 2018, to shareholders of
record as of December 4, 2018. The ex-dividend date is expected to be December 3, 2018. The monthly distribution information for
the Fund appears below.
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First Trust Intermediate Duration Preferred & Income Fund
(FPF):
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Distribution per share: |
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$ |
0.1425 |
Distribution Rate based on the November 19, 2018 NAV of $22.38: |
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7.64% |
Distribution Rate based on the November 19, 2018 closing market price of $20.03: |
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8.54% |
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The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of
this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source
and tax status of all 2018 distributions will be made after the end of 2018 and will be provided on Form 1099-DIV.
The Fund is a non-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 will seek 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.
First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor. FTA
and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide
a variety of investment services. FTA has collective assets under management or supervision of approximately $123 billion as of
October 31, 2018 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed
accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of
mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.
Stonebridge Advisors LLC ("Stonebridge"), the Fund's investment sub-advisor, is a registered investment advisor specializing in
preferred and hybrid securities. Stonebridge was formed in December 2004 by First Trust Portfolios L.P. and Stonebridge Asset
Management, LLC. The company had assets under management or supervision of approximately $8.5 billion as of October 31, 2018. These
assets come from separate managed accounts, unified managed accounts, unit investment trusts, an open-end mutual fund, actively
managed exchange-traded funds, and the Fund.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund’s
investment objectives will be achieved. The Fund may not be appropriate for all investors.
Principal Risk Factors: The Fund is subject to risks, including the fact that it is a non-diversified closed-end management
investment company.
Preferred/hybrid and debt securities in which the Fund invests are subject to various risks, including credit risk, interest
rate risk, and call risk. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend,
interest and/or principal payments when due and that the value of a security may decline as a result. Credit risk may be heightened
for the Fund because it invests in below investment grade securities, which involve greater risks than investment grade securities,
including the possibility of dividend or interest deferral, default or bankruptcy. Interest rate risk is the risk that the value of
fixed-rate securities in the Fund will decline because of rising market interest rates. Call risk is the risk that performance
could be adversely impacted if an issuer calls higher-yielding debt instruments held by the Fund.
Because the Fund is concentrated in the financials sector, it will be more susceptible to adverse economic or regulatory
occurrences affecting this sector, such as changes in interest rates, loan concentration and competition.
Investment in non-U.S. securities is subject to the risk of currency fluctuations and to economic and political risks associated
with such foreign countries.
Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
The risks of investing in the Fund are spelled out in the prospectus, shareholder reports and other regulatory filings.
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By
providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and
the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor.
Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the
financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising
independent judgment with respect to its retirement plan clients.
The Fund's daily closing New York Stock Exchange price and net asset value per share as well as other information can be found
at
www.ftportfolios.com or by calling 1-800-988-5891.
First Trust Intermediate Duration Preferred & Income Fund
Press Inquiries: Jane Doyle 630-765-8775
Analyst Inquiries: Jeff Margolin 630-915-6784
Broker Inquiries: Jeff Margolin 630-915-6784
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