Tortoise Announces 2019 Closed-End Fund Tax Characterization of Distributions and Release of Combined Annual Report
January 27 2020 - 9:20PM
Business Wire
Tortoise today announced the tax characterization of 2019
distributions paid to common stockholders of:
Tortoise Energy Infrastructure Corp. (NYSE: TYG) Tortoise
Midstream Energy Fund, Inc. (NYSE: NTG) Tortoise Pipeline &
Energy Fund, Inc. (NYSE: TTP) Tortoise Energy Independence Fund,
Inc. (NYSE: NDP) Tortoise Power and Energy Infrastructure Fund,
Inc. (NYSE: TPZ) Tortoise Essential Assets Income Term Fund (NYSE:
TEAF)
2019 Tax Characterization of
Distributions
TYG
NTG
TTP
NDP
TPZ
TEAF
Qualified Dividend Income
21%
0%
0%
0%
11%
26%
Ordinary Dividend Income
0%
0%
0%
0%
63%
25%
Return of Capital
79%
100%
100%
100%
19%
49%
Long-Term Capital Gain
N/A
N/A
0%
0%
7%
0%
Additional information regarding the tax characterization of the
2019 distributions is available at www.tortoiseadvisors.com. A copy
of the information is also available upon request by calling (866)
362-9331.
Nothing contained herein or therein should be construed as tax
advice. Consult your tax advisor for more information. Furthermore,
you may not rely upon any information herein or therein for the
purpose of avoiding any penalties that may be imposed under the
Internal Revenue Code.
Annual Report
The adviser also announced today the release of the combined
2019 annual stockholders' report including all of these funds.
The annual report is available online at
www.tortoiseadvisors.com. Please call (866) 362-9331 or email
info@tortoiseadvisors.com to request a hard copy of this report
free of charge.
About Tortoise
Tortoise invests in essential assets – those real 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. For
additional information, please visit 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.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200127005764/en/
Tortoise Pam Kearney, Investor and Public Relations (866)
362-9331 pkearney@tortoiseadvisors.com
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