Tortoise Announces Distribution Amounts and Dates for TTP, TPZ and TEAF

TTP, TPZ and TEAF declared the following distributions:

Fund

Ticker

Distribution
Amount

Tortoise Pipeline & Energy Fund, Inc.

TTP

$0.1600

Tortoise Power and Energy Infrastructure Fund, Inc.

TPZ

$0.0500

Tortoise Essential Assets Income Term Fund

TEAF

$0.0750

The Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) quarterly distribution is payable on August 31, 2020 to stockholders of record on August 24, 2020.

The Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) August monthly distribution is payable on August 31, 2020 to shareholders of record on August 24, 2020.

The Tortoise Essential Assets Income Term Fund (NYSE: TEAF) monthly distributions are payable on September 30, 2020, October 30, 2020 and November 30, 2020 to stockholders of record on the respective dates of September 23, 2020, October 23, 2020 and November 23, 2020.

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.