Kayne Anderson MLP Investment Company Announces Distribution of $0.48 per Share for Q3 2009 & Maintains Distribution Guidance...
September 18 2009 - 4:18PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) announced today its quarterly distribution of $0.48 per share
for the period June 1, 2009 to August 31, 2009 and stated that it
expects to maintain its quarterly distribution at $0.48 per share
for the remainder of fiscal year 2009.
The distribution for the quarter ended August 31, 2009 will be
payable on October 9, 2009 to common stockholders of record on
October 5, 2009, with an ex-dividend date of October 1, 2009. It is
anticipated that substantially all of this distribution will be
treated as a return of capital for tax purposes. The final
determination of such amount will be made in early 2010 when the
Company can determine its earnings and profits. The final tax
status of the distribution may differ substantially from this
preliminary information.
“We are happy to announce that we have fully invested the
proceeds of our recent equity offering, along with proceeds from
additional borrowings, in additional portfolio securities. Based on
the cash and other investment income expected to be generated by
our current portfolio, we expect to maintain a quarterly
distribution of $0.48 for the remainder of fiscal year 2009,”
McCarthy stated.
“Payment of future distributions is subject to board approval,
as well as meeting the covenants of our senior debt and the asset
coverage requirements of the 1940 Act. Of course, should MLP
distributions be less than our expectations, we would re-evaluate
the appropriate distribution rate at that time," stated Mr.
McCarthy.
Kayne Anderson MLP Investment Company is a non-diversified,
closed-end management investment company registered under the
Investment Company Act of 1940, whose common stock is traded on the
NYSE. The Company's investment objective is to obtain a high
after-tax total return by investing at least 85% of its total
assets in energy-related master limited partnerships and their
affiliates, and in other companies that, as their principal
business, operate assets used in the gathering, transporting,
processing, storing, refining, distributing, mining or marketing
natural gas, natural gas liquids (including propane), crude oil,
refined petroleum products or coal.
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 Company'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 Company'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 Company undertakes no
obligation to publicly update or revise any forward-looking
statements made herein. There is no assurance that the Company's
investment objectives will be attained.
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