Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice
October 30 2020 - 5:00PM
Business Wire
This notice provides stockholders of Tortoise Power and Energy
Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding
the distribution paid on October 30, 2020 and cumulative
distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the
current distribution, payable October 30, 2020, 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.
Estimated Sources of Distributions ($)
Current
Distribution % Breakdownof the
Current
Distribution ($) Total
CumulativeDistributions for the
Fiscal Year to
Date % Breakdown of theTotal CumulativeDistributions for
the
Fiscal Year to Date Net
Investment Income
0.0317
63%
0.3453
35%
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
0.0183
37%
0.6547
65%
Total (per common share)
0.0500
100%
1.0000
100%
Average annual total return (in relation to NAV) for the 5
years ending on 9/30/2020
-4.32%
Annualized current distribution rate expressed as a percentage of
NAV as of 9/30/2020
5.15%
Cumulative total return (in relation to NAV) for the fiscal year
through 9/30/2020
-28.71%
Cumulative fiscal year distributions as a percentage of NAV as of
9/30/2020
8.59%
You should not draw any conclusions about TPZ's investment
performance from the amount of this distribution or from the terms
of TPZ's distribution policy.
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 TPZ is paid back to you. A return of capital distribution does
not necessarily reflect 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 TPZ's investment experience during the
remainder of its fiscal year and may be subject to changes based on
tax regulations. 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
Tortoise focuses on energy infrastructure and the transition to
cleaner energy. Tortoise’s solid track record of energy value chain
investment experience and research dates back more than 20 years.
As one of the earliest investors in midstream energy, Tortoise
believes it is well-positioned to be at the forefront of the global
energy evolution that is underway. 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.TortoiseEcofin.com.
Tortoise Capital Advisors is the Adviser to the Tortoise Power
and Energy Infrastructure Fund, Inc.
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.
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: https://www.businesswire.com/news/home/20201030005653/en/
Maggie Zastrow at (913) 981-1020 or
info@tortoiseadvisors.com
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