Tortoise Capital Advisors Announces Distribution Amounts and Dates for Closed-End Funds (TYG, NTG, TTP, NDP, TPZ)
August 07 2017 - 6:06PM
Business Wire
The 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 $0.6550 - -
Tortoise MLP Fund, Inc. NTG $0.4225 - - Tortoise Pipeline &
Energy Fund, Inc. TTP $0.4075 - - Tortoise Energy Independence
Fund, Inc. NDP $0.4375 - -
The TYG, NTG, TTP and NDP distributions
are payable on Aug. 31, 2017 to stockholders of record on Aug. 24,
2017.
Fund Ticker
MonthlyDistributionAmount
% Changefrom
PriorDistribution
% Changefrom
PriorYear
Tortoise Power and Energy Infrastructure Fund, Inc. TPZ
$0.1250 - -
The TPZ monthly distributions are payable on Sept. 29, 2017,
Oct. 31, 2017 and Nov. 30, 2017 to stockholders of record on the
respective dates of Sept. 22, 2017, Oct. 24, 2017 and Nov. 22,
2017.
For book purposes, the source of distributions for TYG and NTG
is estimated to be 100% return of capital, and the source of
distributions for NDP is estimated to be approximately 75-80%
ordinary income, with the remainder as return of capital. For tax
purposes, the characterization will not be made until determination
of earnings and profits after year end.
You should not draw any conclusions about TTP’s or TPZ’s
investment performance from the amount of these distributions or
from the terms of TTP’s or TPZ’s distribution policy.
TTP and TPZ estimate that they have distributed more than their
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 and TPZ is paid back to you. A return of capital
distribution does not necessarily reflect TTP’s and TPZ’s
investment performance and should not be confused with “yield” or
“income.”
TTP and TPZ will report the sources for their distributions at
the time of the payment in the applicable Section 19(a) Notice. The
amounts and sources of distributions TTP and TPZ 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 TTP’s and TPZ’s investment experience
during the remainder of their fiscal years and may be subject to
changes based on tax regulations. TTP and TPZ 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.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in essential assets investing including the energy
value chain. As of June 30, 2017, the adviser had approximately
$16.1 billion of assets under management in listed closed-end
funds, mutual funds, private funds and separate 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170807006075/en/
Tortoise Capital Advisors, L.L.C.Pam Kearney,
866-362-9331Investor Relationspkearney@tortoiseadvisors.com
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