Kayne Anderson Midstream/Energy Fund Announces Distribution of $0.35 per Share for Q1 2017
April 03 2017 - 8:38AM
Business Wire
Kayne Anderson Midstream/Energy Fund, Inc. (the “Fund”) (NYSE:
KMF) announced today its quarterly distribution of $0.35 per share
for the quarter ended February 28, 2017.
The distribution will be payable on April 21, 2017 to common
stockholders of record on April 13, 2017, with an ex-dividend date
of April 11, 2017. The Fund estimates that 70% of this distribution
will be treated as a return of capital for tax purposes. This
estimate is based on the Fund’s anticipated earnings and profits
for fiscal 2017 and its accumulated earnings and profits as of
February 28, 2017 (including gains and losses on sales of
securities during the three months ended February 28, 2017). The
Fund’s estimate does not include a projection of gains or losses on
the sale of securities for the remainder of fiscal 2017. The final
determination of the tax character of the distribution will be made
in early 2018 when the Fund can determine its actual earnings and
profits for the full year (including gains and losses on the sale
of securities for the remainder of fiscal 2017) and may differ
substantially from this preliminary information.
Kayne Anderson Midstream/Energy Fund, Inc. is a non-diversified,
closed-end management investment company registered under the
Investment Company Act of 1940, whose common stock is traded on the
New York Stock Exchange. The Fund’s investment objective is to
provide a high level of total return with an emphasis on making
quarterly cash distributions to its stockholders by investing at
least 80% of its total assets in securities of companies in the
Midstream/Energy Sector, consisting of: (a) Midstream Master
Limited Partnerships (“MLPs”), (b) Midstream Companies, (c) Other
MLPs and (d) Other Energy Companies. The Fund anticipates that the
majority of its investments will consist of investments in
Midstream MLPs and Midstream Companies. See Glossary of Key Terms
on page ii of the Prospectus for definitions of certain key
terms.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains "forward-looking statements" as defined under the
U.S. federal securities laws. Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "will" and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from the Fund’s historical experience and
its present expectations or projections indicated in any
forward-looking statements. These risks include, but are not
limited to, changes in economic and political conditions;
regulatory and legal changes; MLP industry risk; leverage risk;
valuation risk; interest rate risk; tax risk; and other risks
discussed in the Fund’s filings with the SEC. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. The Fund undertakes no obligation to
publicly update or revise any forward-looking statements made
herein. There is no assurance that the Fund’s investment objective
will be attained.
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version on businesswire.com: http://www.businesswire.com/news/home/20170403005759/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com
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