UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06179

Flaherty & Crumrine Preferred Income Fund Incorporated
(Exact name of registrant as specified in charter)

301 E. Colorado Boulevard, Suite 720
Pasadena, CA 91101
(Address of principal executive offices) (Zip code)

R. Eric Chadwick
Flaherty & Crumrine Incorporated
301 E. Colorado Boulevard, Suite 720
Pasadena, CA 91101
(Name and address of agent for service)

Registrant's telephone number, including area code: 626-795-7300

Date of fiscal year end: November 30

Date of reporting period: July 1, 2015 – June 30, 2016

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


PROXY VOTING RECORD

FOR PERIOD JULY 1, 2015 TO JUNE 30, 2016

REGISTRANT NAME: Flaherty & Crumrine Preferred Income Fund Incorporated
INVESTMENT COMPANY ACT FILE NUMBER: 811 - 06179
REPORTING PERIOD:              07/01/2015 - 06/30/2016
REGISTRANT ADDRESS: 301 E. Colorado Boulevard, Suite 720, Pasadena, California 91101
NAME OF SERIES (AS APPLICABLE): __________________________________

Issuer of Portfolio Security

Exchange
Ticker
Symbol

CUSIP #

Shareholder
Meeting Date

Summary of Matter Voted On

Who Proposed
Matter: Issuer /
Shareholder

Whether
Fund Cast
Vote on
Matter

Fund's Vote For or
Against Proposal,
or Abstain; For or
Withhold
Regarding Election
of Directors

Whether Vote
Was For or
Against
Management

CIT Group Inc CIT 125581801 5/10/2016 Change voting requirement for removal of directors to simple from supermajority Issuer No N/A N/A
CIT Group Inc CIT 125581801 5/10/2016 Approve amendment to remove Article Twelfth Issuer No N/A N/A
CIT Group Inc CIT 125581801 5/10/2016 Approve executive compensation Issuer No N/A N/A
CIT Group Inc CIT 125581801 5/10/2016 Approve the 2016 omnibus incentive plan Issuer No N/A N/A
CIT Group Inc CIT 125581801 5/10/2016 Approve directors Issuer No N/A N/A
CIT Group Inc CIT 125581801 5/10/2016 Approve auditor Issuer No N/A N/A
FT REAL ESTATE SECS CO FHN 302663208 5/9/2016 Approve directors Issuer Yes Withhold All For
Kinder Morgan Incorporated KMI 49456B101 5/10/2016 Annual sustainability report Security Holder No N/A N/A
Kinder Morgan Incorporated KMI 49456B101 5/10/2016 Approve auditor Issuer No N/A N/A
Kinder Morgan Incorporated KMI 49456B101 5/10/2016 Approve directors Issuer No N/A N/A
Kinder Morgan Incorporated KMI 49456B101 5/10/2016 Report on company's response to climate change Security Holder No N/A N/A
Kinder Morgan Incorporated KMI 49456B101 5/10/2016 Report on diversity of board of directors Security Holder No N/A N/A
Kinder Morgan Incorporated KMI 49456B101 5/10/2016 Report on ethane emissions Security Holder No N/A N/A
PARTNERRE LTD PRE G68603508 11/19/2015 Approve meeting adjournment to solicit additional proxies Issuer No N/A N/A
PARTNERRE LTD PRE G68603508 11/19/2015 Approve merger Issuer No N/A N/A
WMI Holdings Corporation WMIH 92936P100 6/1/2016 Approve auditor Issuer No N/A N/A
WMI Holdings Corporation WMIH 92936P100 6/1/2016 Approve directors Issuer No N/A N/A
WMI Holdings Corporation WMIH 92936P100 6/1/2016 Approve executive compensation Issuer No N/A N/A
*Complete for each series of the Registrant, as applicable.


SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant         Flaherty & Crumrine Preferred Income Fund Incorporated

By (Signature and Title)*        /s/R. Eric Chadwick
        R. Eric Chadwick, Chief Executive Officer and President
      (principal executive officer)

Date        8/29/16

*Print the name and title of each signing officer under his or her signature.