Tortoise Capital Advisors Announces Special Distributions for Certain Closed-End Funds
December 10 2014 - 5:31PM
Business Wire
Tortoise Capital Advisors announced the following special
distributions today:
Fund
Ticker
SpecialDistributionAmount
Tortoise Power and Energy Infrastructure Fund, Inc.
TPZ $1.25 per share Tortoise Pipeline & Energy Fund,
Inc. TTP $0.15 per share
The TPZ and TTP special distributions are payable on Dec. 31,
2014 to stockholders of record on Dec. 24, 2014. The ex-dividend
date is Dec. 22, 2014. These distributions are being made at this
time in order to avoid being subject to U.S. federal income taxes.
For tax purposes, the characterization will not be made until
determination of earnings and profits after year-end. A final
determination of the characterization will be made in January
2015.
TPZ and TTP will report the source of these distributions at the
time of the payment in the applicable Section 19(a) Notice.
You should not draw any conclusions about TPZ’s or TTP’s
investment performance from the amount of these distributions or
from the terms of TPZ’s or TTP’s distribution policy.
The amounts and sources of distributions TPZ and TTP report 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 and TTP’s investment
experience during their most recently completed fiscal years and
may be subject to changes based on tax regulations. TPZ and TTP
will each send you a Form 1099-DIV for the calendar year that will
tell you how to report these distributions for federal income tax
purposes.
2014 Year-End Closed-End Fund Conference Call
TPZ and TTP, together with the other Tortoise closed-end funds,
will host a year-end conference call on Dec. 17, 2014 at 3:30 p.m.
Central, to discuss current U.S. energy industry market conditions
and Tortoise closed-end funds’ 2014 year-end results.
Participants can access the conference call by dialing
877-407-9210.
A replay of the call will be available on the company’s Website
at www.tortoiseadvisors.com or by dialing 877-660-6853 (Conference
ID # 13594177) until 11:59 p.m. Central on Dec. 17, 2015.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in listed energy investments. As of Nov. 30 2014, the
adviser had approximately $17.7 billion of assets under management
in NYSE-listed closed-end investment companies, open-end funds,
private funds 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 funds 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 funds’ 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 funds 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.
Tortoise Capital Advisors, L.L.C.Pam Kearney,
866-362-9331Investor Relationspkearney@tortoiseadvisors.com
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