Tortoise Capital Advisors Announces Distribution Amounts and Dates for Closed-End Funds (TYG, NTG, TTP, NDP, TPZ)
The closed-end funds managed by Tortoise Capital Advisors declared the following distributions today:
| Fund |
|
|
Ticker |
|
|
Distribution
Amount
|
|
|
% Change
from Prior
Distribution
|
|
|
% Change
from Prior
Year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tortoise Energy Infrastructure Corp. |
|
|
TYG |
|
|
$0.6550 |
|
|
- |
|
|
- |
| Tortoise MLP Fund, Inc. |
|
|
NTG |
|
|
$0.4225 |
|
|
- |
|
|
- |
| Tortoise Pipeline & Energy Fund, Inc. |
|
|
TTP |
|
|
$0.4075 |
|
|
- |
|
|
- |
| Tortoise Energy Independence Fund, Inc. |
|
|
NDP |
|
|
$0.4375 |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
The TYG, NTG, TTP and NDP distributions are payable on May 31, 2017 to stockholders of record on May 24, 2017.
| Fund |
|
|
Ticker |
|
|
Monthly
Distribution
Amount
|
|
|
% Change
from Prior
Distribution
|
|
|
% Change
from Prior
Year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tortoise Power and Energy Infrastructure Fund, Inc. |
|
|
TPZ |
|
|
$0.1250 |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
The TPZ monthly distributions are payable on June 30, 2017, July 31, 2017 and August 31, 2017 to stockholders of record on the
respective dates of June 23, 2017, July 24, 2017 and August 24, 2017.
For book purposes, the source of distributions for TYG and NTG is estimated to be 100 percent return of capital, and the source
of distributions for NDP is estimated to be approximately 75-80 percent ordinary income, with the remainder as return of capital.
For tax purposes, the characterization will not be made until determination of earnings and profits after year end.
You should not draw any conclusions about TTP’s or TPZ’s investment performance from the amount of these distributions or from
the terms of TTP’s or TPZ’s distribution policy.
TTP and TPZ estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of
the distribution may be return of capital. A return of capital may occur, for example, when some or all of the money that you
invested in TTP and TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP’s and TPZ’s
investment performance and should not be confused with “yield” or “income.”
TTP and TPZ will report the sources for their distributions at the time of the payment in the applicable Section 19(a) Notice.
The amounts and sources of distributions TTP and TPZ report 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’s and TPZ’s investment
experience during the remainder of their fiscal years and may be subject to changes based on tax regulations. TTP and TPZ will each
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 Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager specializing in essential assets investing including the energy value
chain. As of April 30, 2017, the adviser had approximately $17.0 billion of assets under management in listed closed-end funds,
mutual funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com.
Forward-Looking Statement
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 funds’ 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.
Tortoise Capital Advisors, L.L.C.
Pam Kearney, 866-362-9331
Investor Relations
pkearney@tortoiseadvisors.com
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