Tortoise Capital Announces Closed-End Fund Distributions

ACCESSWIRE · Tortoise Capital

In This Article:

Distribution Amounts and Dates Declared for:

  • Tortoise Energy Infrastructure Corp. (NYSE:TYG)

  • Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

  • Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)

  • Tortoise Energy Independence Fund, Inc. (NYSE:NDP)

  • Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

  • Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF)

OVERLAND PARK, KS / ACCESSWIRE / November 4, 2024 / Tortoise Capital announced distributions declared by its closed-end funds.

Tortoise Capital closed-end funds distribution details are as follows:

Fund

Ticker

Distribution
Amount

Distribution Target of Average NAV

Distribution

Frequency

Tortoise Energy Infrastructure Corp.

TYG

$0.78

7%-10%

Quarterly

Tortoise Midstream Energy Fund, Inc.

NTG

$0.81

7%-10%

Quarterly

Tortoise Pipeline & Energy Fund, Inc.

TTP

$0.59

7%-10%

Quarterly

Tortoise Energy Independence Fund, Inc.

NDP

$0.63

7%-10%

Quarterly

Tortoise Power and Energy Infrastructure Fund, Inc.

TPZ

$0.105

7%-10%

Monthly

Tortoise Sustainable and Social Impact Term Fund

TEAF

$0.09

6%-8%

Monthly

TYG, NTG, TTP, NDP and TPZ distributions are payable on Nov. 29, 2024, to shareholders of record on Nov. 22, 2024. TEAF monthly distributions are payable on December 31, 2024, January 31, 2025, and February 28, 2025, to shareholders of record on the respective dates of December 24, 2024, January 24, 2025, and February 21, 2025.

For book purposes, the source of distributions for TYG is estimated to be 10-20% ordinary income and NTG is estimated to be 0-20% ordinary income with the remainder as return of capital, and NDP is estimated to be approximately 10-20% ordinary income, with the remainder as return of capital. For TEAF, the source of distributions is estimated to be approximately 40 to 50% ordinary income, with the remainder as return of capital.

Investors 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 invested in TTP and TPZ is paid back to the investor. 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.