This notice provides stockholders of Tortoise Pipeline &
Energy Fund, Inc. (NYSE: TTP) and Tortoise Power and Energy
Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding
the distributions paid on Aug. 30, 2019 and cumulative
distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the
current distributions, payable Aug. 30, 2019 and the cumulative
distributions paid this fiscal year to date from the following
sources: net investment income, net realized short-term capital
gains, net realized long-term capital gains and return of capital.
All amounts are expressed per common share.
Tortoise Pipeline & Energy Fund, Inc.
Estimated Sources of
Distributions
($) Current Distribution
% Breakdown of the Current
Distribution
($) Total Cumulative
Distributions for the Fiscal Year to Date
% Breakdown of the Total
Cumulative Distributions for the Fiscal Year to Date
Net Investment Income
0.0000
0
%
0.0000
0
%
Net Realized Short-Term Capital Gains
0.0000
0
%
0.0000
0
%
Net Realized Long-Term Capital Gains
0.0000
0
%
0.0000
0
%
Return of Capital
0.2850
100
%
1.1000
100
%
Total (per common share)
0.2850
100
%
1.1000
100
%
Average annual total return (in relation
to NAV) for the 5 years ending on 7/31/2019
-8.72
%
Annualized current distribution rate
expressed as a percentage of NAV as of 7/31/2019
10.46
%
Cumulative total return (in relation to
NAV) for the fiscal year through 7/31/2019
1.11
%
Cumulative fiscal year distributions as a
percentage of NAV as of 7/31/2019
7.06
%
Tortoise Power and Energy Infrastructure Fund, Inc.
Estimated Sources of
Distributions
($) Current Distribution
% Breakdown of the Current
Distribution
($) Total Cumulative
Distributions for the Fiscal Year to Date
% Breakdown of the Total
Cumulative Distributions for the Fiscal Year to Date
Net Investment Income
0.0312
25
%
0.2784
25
%
Net Realized Short-Term Capital Gains
0.0010
1
%
0.0141
1
%
Net Realized Long-Term Capital Gains
0.0045
4
%
0.0608
5
%
Return of Capital
0.0883
70
%
0.7717
69
%
Total (per common share)
0.1250
100
%
1.1250
100
%
Average annual total return (in relation
to NAV) for the 5 years ending on 7/31/2019
-0.29
%
Annualized current distribution rate
expressed as a percentage of NAV as of 7/31/2019
7.52
%
Cumulative total return (in relation to
NAV) for the fiscal year through 7/31/2019
6.69
%
Cumulative fiscal year distributions as a
percentage of NAV as of 7/31/2019
5.64
%
You should not draw any conclusions about TTP or TPZ’s
investment performance from the amount of this distribution or from
the terms of TTP and TPZ’s distribution policies.
Each of TTP and TPZ estimates that it has distributed more than
its income and net realized capital gains; therefore, a portion of
your 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 TTP and/or TPZ is paid back to you. A return of capital
distribution does not necessarily reflect TTP or TPZ’s investment
performance and should not be confused with "yield" or
"income."
The amounts and sources of distributions reported 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 and TPZ's investment experience
during the remainder of its fiscal year and may be subject to
changes based on tax regulations. TTP and/or 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 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 Power and Energy Infrastructure Fund,
Inc.
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)
invests in a portfolio of fixed income and equity securities issued
by power and energy infrastructure companies. TPZ’s objective is to
provide stockholders a high level of current income, with a
secondary objective of capital appreciation.
About Tortoise
Tortoise invests in essential assets – those assets and services
that are indispensable to the economy and society. With a steady
wins approach and a long-term perspective, Tortoise strives to make
a positive impact on clients and communities. To learn more, please
visit www.tortoiseadvisors.com.
Tortoise Capital Advisors is the Adviser to Tortoise Pipeline
& Energy Fund, Inc. and Tortoise Power and Energy
Infrastructure Fund, Inc.
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.
Cautionary Statement Regarding Forward-Looking
Statements
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 fund’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 funds and Tortoise Capital Advisors do not assume a duty to
update this forward-looking statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190830005017/en/
Tortoise Pam Kearney, Investor and Public Relations (866)
362-9331 pkearney@tortoiseadvisors.com
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