News Press Releases

Tortoise Announces Distribution Amounts and Dates for TYG, TTP, NDP, TPZ

TYG, TTP, NDP, TPZ | August 6, 2018

Tortoise Announces Distribution Amounts and Dates for TYG, TTP, NDP, TPZ

TYG, TTP, NDP and TPZ 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 Pipeline & Energy Fund, Inc.	TTP	$0.4075	-	-
Tortoise Energy Independence Fund, Inc.	NDP	$0.4375	-	-

The TYG, TTP and NDP distributions are payable on Aug. 31, 2018 to stockholders of record on Aug. 24, 2018. As previously declared and announced on June 14, 2018 in conjunction with the fund’s rights offering, the NTG distribution of $.4225 is payable on Aug. 31, 2018 to stockholders of record on July 03, 2018.

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 Sept. 28, 2018, Oct. 31, 2018 and Nov. 30, 2018 to stockholders of record on the respective dates of Sept. 21, 2018, Oct. 24, 2018 and Nov. 23, 2018.

For book purposes, the source of distributions for TYG is estimated to be 100% return of capital, and the source of distributions for NDP is estimated to be approximately 75-85% 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

Tortoise specializes in essential assets and income. Tortoise invests in assets and services that serve essential needs in society and can also serve essential client needs, such as diversification and income. Tortoise’s energy investing expertise across the energy value chain, including infrastructure and MLPs, dates back more than 15 years. Through a variety of investment vehicles, Tortoise provides access to a wide range of client solutions, focused on their evolving needs. For more information, please visit www.tortoiseadvisors.com.

Tortoise Capital Advisors, L.L.C. (the “Adviser”) is the Adviser to the funds.

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.

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 company 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 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 company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.