DALLAS, July 1, 2020
/PRNewswire/ -- The Cushing® MLP &
Infrastructure Total Return Fund (NYSE: SRV) (the
"Fund") declared its monthly distribution of $0.12 per common share for each of July and
August 2020. These monthly
distributions will be payable to common shareholders pursuant to
the table below:
Ex-Date
|
Record
Date
|
Payment
Date
|
Distribution
Amount
|
Return of Capital
Estimate1
|
7/13/20
|
7/14/20
|
7/31/20
|
$0.12
|
0%
|
8/14/20
|
8/17/20
|
8/31/20
|
$0.12
|
0%
|
|
|
|
|
|
1The return of capital estimate is based on the
Fund's anticipated earnings and profits for fiscal 2020 and does
not include a projection of gains and losses on the sale of
securities which may occur during the remainder of the year.
It is currently anticipated, but not certain, that approximately 0%
of the Fund's distribution will be treated as a return of capital.
The final determination of such amounts will be made and reported
to shareholders in early 2021, after the end of the calendar year
when the Fund determines its earnings and profits for the year. The
final tax status of the distribution may differ substantially from
this preliminary information.
Each distribution shall be paid on the payment date unless the
payment of such distribution is deferred by the Fund's Board of
Trustees upon a determination that such deferral is required in
order to comply with applicable law or to ensure that the Fund
remains solvent and able to pay its debts as they become due and
continue as a going concern.
ADDITIONAL INFORMATION ABOUT THE FUND
The Fund is a non-diversified, closed-end management investment
company with an investment objective of seeking a high after-tax
total return from a combination of capital appreciation and current
income. The Fund seeks to achieve its investment objective by
investing, under normal market conditions, at least 80% of its net
assets, plus any borrowings for investment purposes, in a portfolio
of energy infrastructure master limited partnerships ("MLPs") and
MLP-related investments. The Fund will invest no more than
25% of its Managed Assets in securities of MLPs that qualify as
publicly traded partnerships under the Internal Revenue Code. The
Fund's shares are traded on the New York Stock Exchange under the
symbol "SRV."
There can be no assurance that the Fund will achieve its
investment objectives. Investments in the Fund involve operating
expenses and fees. The net asset value of the Fund will fluctuate
with the value of the underlying securities. It is important to
note that closed-end funds trade on their market value, not net
asset value, and closed-end funds often trade at a discount to
their net asset value.
Future distributions will be made by the Fund if and when
declared by the Fund's Board of Trustees, based on a consideration
of number of factors, including the Fund's continued compliance
with terms and financial covenants of its senior securities, the
Fund's net investment income, financial performance and available
cash. There can be no assurance that the amount or timing of
distributions in the future will be equal or similar to that
described herein or that the Board of Trustees will not decide to
suspend or discontinue the payment of distributions in the
future.
ABOUT CUSHING® ASSET
MANAGEMENT, LP
Cushing, a subsidiary of Swank
Capital, is an SEC-registered investment adviser headquartered in
Dallas, Texas. Cushing serves as investment adviser to
affiliated funds and managed accounts providing active management
in markets where inefficiencies exist.
Contact:
Blake
Nelson
Cushing® Asset
Management, LP
214-692-6334
www.cushingasset.com
Source: Cushing® Asset
Management, LP
IMPORTANT INFORMATION
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.
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 Cushing
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 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 Funds and Cushing do not assume a duty to update this
forward-looking statement.
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SOURCE Cushing® Asset Management, LP