Kayne Anderson Midstream/Energy Fund Announces Monthly Distribution Amounts and Dates for October, November and December 2019...
October 03 2019 - 4:45PM
Kayne Anderson Midstream/Energy Fund, Inc. (NYSE: KMF) (the “Fund”)
announced today its monthly distributions of $0.075 per share for
each of October, November and December 2019. These monthly
distributions will be payable to common stockholders pursuant to
the table below.
DeclarationDate |
Ex-Date |
Record Date |
Payment Date |
DistributionAmount |
Return ofCapital Estimate(1) |
10/3/19 |
10/23/19 |
10/24/19 |
10/31/19 |
$0.075 |
90% |
10/3/19 |
11/20/19 |
11/21/19 |
11/29/19 |
$0.075 |
90% |
10/3/19 |
12/18/19 |
12/19/19 |
12/31/19 |
$0.075 |
90% |
(1) The return of capital estimate is based on the
Fund’s anticipated earnings and profits for fiscal 2019 and does
not include a projection of gains and losses on the sale of
securities which may occur during the remainder of the year. At
this time, the Fund estimates that 90% of its annual distributions
are considered to be a non-taxable return of capital. The final
determination of the tax character of distributions will be made in
early 2020 and may differ substantially from this preliminary
information.
Kayne Anderson Midstream/Energy Fund, Inc. is a non-diversified,
closed-end management investment company registered under the
Investment Company Act of 1940, as amended, whose common stock is
traded on the NYSE. KMF’s investment objective is to provide a high
level of total return with an emphasis on cash distributions to its
stockholders by investing at least 80% of its total assets in
securities of companies in the Midstream/Energy Sector, consisting
of: (a) Midstream Master Limited Partnerships (“MLPs”), (b)
Midstream Companies, (c) Other MLPs and (d) Other Energy Companies.
KMF anticipates that the majority of its investments will consist
of investments in Midstream MLPs and Midstream Companies. See
Glossary of Key Terms in the Fund’s quarterly reports for a
description of these investment categories and for the meaning of
capitalized terms.
The Fund pays regular monthly cash distributions to common
stockholders at a level rate that may be adjusted from time to
time. The amount of monthly distributions is not guaranteed and may
vary depending on a number of factors, including changes in
portfolio holdings and market conditions. Payment of future
distributions is subject to Board of Directors approval, as well as
meeting the covenants of the Fund’s debt agreements and terms of
its preferred stock. This press release shall not constitute an
offer to sell or a solicitation to buy, nor shall there be any sale
of any securities in any jurisdiction in which such offer or sale
is not permitted. Nothing contained in this press release is
intended to recommend any investment policy or investment strategy
or take into account the specific objectives or circumstances of
any investor. Please consult with your investment, tax or legal
adviser regarding your individual circumstances prior to
investing.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains “forward- looking statements” as defined under the
U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from the Fund’s historical experience and
its present expectations or projections indicated in any
forward-looking statements. These risks include, but are not
limited to, changes in economic and political conditions;
regulatory and legal changes; MLP industry risk; leverage risk;
valuation risk; interest rate risk; tax risk; and other risks
discussed in detail in the Fund’s filings with the SEC, available
at www.sec.gov. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. The Fund undertakes no obligation to publicly update or
revise any forward-looking statements made herein. There is no
assurance that the Fund’s investment objectives will be
attained.
Contact:
KA Fund Advisors, LLC Investor Relations 877-657-3863
cef@kaynecapital.com www.kaynefunds.com
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