Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek total return, with an emphasis on high current income. The Fund invests at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by the United States (U.S.) and non-U.S. companies, including traditional preferred stock, hybrid and trust preferred securities that have characteristics of both equity and debt securities, contingent capital securities, subordinated debt and senior debt. The Fund invests in various sectors, such as banking, financial services, insurance, utilities, energy, communication and real estate investment trust (REIT). Its investment advisor is Flaherty & Crumrine Incorporated.
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