FLC Research | Milton Maxwell

FLC

Flaherty & Crumrine Total Return Fund Inc.

17.38

+0.04+0.23%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

181.74M

P/E (TTM)

10.10

Basic EPS (TTM)

1.72

Dividend Yield

0.06%

Recent Filings

8-K

Fund policy tightens ratings

1/20/17Jan 20, 2017

Flaherty & Crumrine Total Return Fund is tightening its investment policy effective February 21, 2017, to require 90% of managed assets in investment-grade rated securities or those from investment-grade issuers, up from the prior 80% focus. This shift addresses post-2008 rating evolutions that have downgraded preferred securities despite issuer credit improvements, with only 62% of the market now holding investment-grade ratings versus 90% pre-crisis. The adviser can now buy below-investment-grade preferreds from solid issuers but plans no deep junk dives. Ratings apply at purchase; downgrades post-buy won't force sales.

8-K

Portfolio manager retires

11/13/15Nov 13, 2015

Flaherty & Crumrine Total Return Fund announced Donald F. Crumrine's retirement as portfolio manager, effective December 31, 2015. R. Eric Chadwick and Bradford S. Stone will continue managing the fund. This transition ensures continuity in investment strategy amid the founder's exit.

8-K

Portfolio manager retires June 30

6/4/15Jun 4, 2015

Flaherty & Crumrine Total Return Fund announced on June 4, 2015, that portfolio manager Robert M. Ettinger will retire and step down effective June 30, 2015. R. Eric Chadwick, Bradford S. Stone, and Donald Crumrine will remain as portfolio managers. This transition ensures continuity in the fund's management team.

8-K

Funds elect new CEO, CFO

4/23/15Apr 23, 2015

On April 21, 2015, the boards of Flaherty & Crumrine's closed-end funds—DFP, FFC, and FLC—elected R. Eric Chadwick as Chief Executive Officer and President, replacing Donald F. Crumrine as principal executive officer while Crumrine remains Chairman. Bradford S. Stone steps in as Chief Financial Officer and Vice President, succeeding Chadwick, who held that role since 2004 for FFC and FLC, and 2013 for DFP. Leadership shifts preserve continuity. All other officers and portfolio managers stay unchanged.

8-K

Fund policy tweaks add flexibility

2/3/11Feb 3, 2011

Flaherty & Crumrine Total Return Fund announced tweaks to its investment policies, effective April 4, 2011, adding Fitch Ratings to determine investment-grade status and allowing up to 20% in below-investment-grade securities from issuers with investment-grade senior debt. This expands flexibility, reducing deemed below-grade holdings from 16.6% to 12.3% as of January 31, 2011. The adviser has no plans to chase B-rated junk. Yet risks rise with potential for higher vulnerability to defaults.

About

Flaherty & Crumrine Total Return Fund Inc. is a closed-ended balanced mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in stocks of companies operating across utilities and banking sectors. The fund primarily invests in investment-grade securities consisting of preferred securities and other income-producing securities comprising of various debt securities. It benchmarks the performance of its portfolio against the Barclays Capital U.S. Aggregate Index and the S&P 500 Index. The fund was formerly known as Flaherty & Crumrine/Claymore Total Return Fund, Inc. Flaherty & Crumrine Total Return Fund Inc. was formed on August 26, 2003 and is domiciled in the United States.

CEO

Mr. Donald Frasier Crumrine CFA

IPO

8/27/2003

Website

https://www.flahertyfunds.com/funds/flc-total-return-fund/

Sector

Financial Services

Industry

Asset Management