Tortoise Capital Advisors Announces Distribution Dates and Amounts for Closed-End Funds
August 06 2012 - 12:52PM
Business Wire
Certain closed-end funds managed by Tortoise Capital Advisors
declared the following distributions today.
Fund Ticker
DistributionAmount
% Changefrom
PriorDistribution
% Changefrom
PriorYear
Tortoise Energy Infrastructure Corp. TYG $0.5625 0.4% 1.8%
Tortoise Energy Capital Corp. TYY $0.4150 0.6% 2.5%
Tortoise North American Energy Corp. TYN $0.3900 0.6% 2.6%
Tortoise MLP Fund, Inc. NTG $0.4150 0.6% 1.2% Tortoise
Pipeline & Energy Fund, Inc. TTP $0.4075 0.3% N/A
The TYG, TYY, TYN, NTG and TTP quarterly distributions will be
paid on Sept. 4, 2012 to stockholders of record on Aug. 24, 2012.
For tax purposes, the ultimate characterization of distributions
will be made after the determination of earnings and profits after
year-end. For book purposes, the source of distributions for TYG,
TYY, TYN and NTG is estimated to be 100 percent return of capital;
the source of distribution for TTP is estimated to be approximately
60-70 percent ordinary income with the remainder return of
capital.
Fund Ticker
DistributionAmount
Tortoise Power and EnergyInfrastructure
Fund, Inc.
TPZ
$0.1250
The TPZ monthly distributions will be paid on Sept. 28, 2012,
Oct. 31, 2012 and Nov. 30, 2012 to stockholders of record on the
respective dates of Sept. 24, 2012, Oct. 24, 2012 and Nov. 23,
2012. TPZ will report the sources for these monthly distributions
at the time of payment in the applicable Section 19(a) Notice.
You should not draw any conclusions about TPZ’s investment
performance from the amount of these distributions or from the
terms of TPZ’s distribution policy.
TPZ estimates that it has distributed more than its income and
capital gains; therefore, a portion of the distribution may be a
return of capital. A return of capital may occur, for example, when
some or all of the money that you invested in TPZ is paid back to
you. A return of capital distribution does not necessarily reflect
TPZ’s investment performance and should not be confused with
“yield” or “income.”
The amounts and sources of distributions TPZ reports are only
estimates and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon TPZ’s investment experience during the
remainder of its fiscal year and may be subject to changes based on
tax regulations. TPZ will send you a Form 1099-DIV for the calendar
year that will tell you how to report these distributions for
federal income tax purposes.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in listed energy infrastructure investments. As of
July 31, 2012, the adviser had approximately $8.6 billion of assets
under management in NYSE-listed closed-end investment companies, an
open-end fund and other accounts. For more information, visit
www.tortoiseadvisors.com.
Forward-Looking Statement
This press release contains certain statements that may include
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the company and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the company’s reports that are filed
with the Securities and Exchange Commission. You should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Other than as required
by law, the company and Tortoise Capital Advisors do not assume a
duty to update this forward-looking statement.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
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