Tortoise Pipeline & Energy Fund, Inc. Announces Upcoming Distribution
February 09 2016 - 4:56PM
Business Wire
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today
declared a first quarter 2016 distribution of $0.4075 per share.
The distribution is payable on Feb. 29, 2016 to stockholders of
record on Feb. 22, 2016. The ex-dividend date is Feb. 18, 2016.
“This time last year, we communicated that TTP’s quarterly
distributions for 2015 would include a baseline distribution amount
from distributable cash flow (DCF) and a portion of the capital
gains required to be distributed during the year,” said Brad Adams,
CEO of Tortoise’s closed-end funds. “The first quarter 2016
distribution reflects our historical baseline distribution
supported by DCF, however, we do not anticipate the same level of
capital gains following recent market declines. The elimination of
the capital gain component results in a $0.0425 or 9.4% reduction
as compared to last quarter.”
You should not draw any conclusions about TTP’s investment
performance from the amount of these distributions or from the
terms of TTP’s distribution policy. TTP estimates that it has
distributed more than its income and net realized capital gains;
therefore, a portion of the distribution may be return of capital.
A return of capital may occur, for example, when some or all of the
money that you invested in TTP is paid back to you. A return of
capital distribution does not necessarily reflect TTP’s investment
performance and should not be confused with “yield” or
“income”.
TTP will report the sources for its distributions at the time of
payment in the applicable Section 19(a) Notice. The amounts and
sources of distributions TTP 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
TTP’s investment experience during the remainder of its fiscal year
and may be subject to changes based on tax regulations. TTP 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 Pipeline & Energy Fund, Inc.
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) is a
non-diversified, closed-end management investment company that
seeks to obtain a high level of total return with an emphasis on
current distributions. TTP invests primarily in equity securities
of pipeline companies that transport natural gas, natural gas
liquids (NGLs), crude oil and refined products and, to a lesser
extent, in other energy infrastructure companies.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in energy investments. As of Jan. 31, 2016, the
adviser had approximately $11.6 billion of assets under management
across the energy value chain in listed closed-end funds, mutual
funds, private funds and separate accounts. For more information,
visit www.tortoiseadvisors.com.
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.
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 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 any forward-looking statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20160209006780/en/
Tortoise Capital Advisors, L.L.C.Pam Kearney,
866-362-9331Investor and Public
Relationspkearney@tortoiseadvisors.com
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