Where does PFF's income come from?

an index fund holding U.S. dollar-denominated preferred and hybrid securities — the stock-bond hybrids banks and utilities issue for fixed dividends. The fund distributes the interest its holdings pay, monthly.

What are preferred securities, and why the higher yield?

Preferreds sit between bonds and common stock: fixed dividends that must be paid before common dividends, but behind bondholders in a bankruptcy and often perpetual with no maturity date. That subordination — plus concentration in financial issuers — is what the extra yield over investment-grade bonds pays for.

How often does PFF pay dividends?

Monthly, and it has paid since May 2007.

Why do PFF's payments change from month to month?

Because the underlying yields do. As bonds mature and new ones enter at prevailing rates — and as rates themselves move — the fund's income drifts with the rate cycle. The year-by-year table above is effectively a history of that cycle.

PFF Dividend History & Next Ex-Dividend Date

Q: When is PFF's next ex-dividend date?

PFF pays monthly, so the next ex-dividend date typically falls about a month after the previous one. Exact dates are announced by the fund shortly before each payout. This page computes the expected window from PFF's live payment data and shows the most recent ex-dividend dates and amounts. You must own shares before the ex-dividend date to receive that payout.

← All dividend history charts

PFF Dividend — Quick Facts

Pays: monthly.
First paid: May 2007 — every payment since is charted below.
What it is: an index fund holding U.S. dollar-denominated preferred and hybrid securities — the stock-bond hybrids banks and utilities issue for fixed dividends.
Fee: 0.45% expense ratio (issuer page).
Know the name: officially the iShares Preferred and Income Securities ETF (the old "U.S. Preferred Stock" name persists around the web).

Bond-fund income is the market's most transparent: the fund passes through what its holdings yield, so the chart below is really a chart of interest rates as lived by income investors — no option overlays, no engineered payouts.

Every Dividend Payment, Over Time

PFF pays monthly. Each point below is one dividend since May 2007.

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PFF Payment Schedule & Next Ex-Dividend Date

Recent Ex-Dividend Dates	Dividend / Share

"Next expected" is estimated from PFF's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.

The Income That Needs No Tricks

Most funds on this site manufacture yield — options sold, leverage added, payouts engineered. PFF just owns debt and forwards the interest. That makes its chart the honest baseline: whatever an option-income fund pays above this is the price of the extra risk it carries.

Watch how differently it moves from the equity-income funds — overlay PFF against any of them on the compare tool, and find its next payday on the live dividend calendar.

Year-by-Year Table

Year	Total Dividends / Share	Payments	Change vs Prior Year

Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.

When Is PFF's Next Ex-Dividend Date?

PFF pays monthly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from PFF's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.

PFF's Record So Far

PFF — the iShares Preferred and Income Securities ETF — launched in March 2007 and has paid monthly since May 2007. The chart above shows every declared dividend.

The Hybrid Asset Class

PFF has passed through preferred dividends monthly since 2007 — a record that includes the one stress test that matters for this asset class: 2008-09, when financial-sector preferreds were at the center of the storm. The long chart shows both the asset class's steady decades and its bad year, which is exactly the ratio a preferred investor should study.

Reading the Chart Honestly

For a bond fund, the payment line tracks interest rates and the share price tracks them inversely — judge the package on total return for your holding period, not either line alone. The compare tool puts PFF beside anything else we track.

See Every Fund's Next Payday

The live dividend calendar computes expected ex-dividend windows for every fund we track — one page, all the paydays.

Open the Dividend Calendar

Educational content only — not financial advice. Payout history is provided by a third-party data source and may contain errors, omissions, or delays; verify against official sources before relying on it. Past distributions do not guarantee future payments. This is not a recommendation to buy or sell any security.