Tortoise Announces Distribution Amounts for Its Closed-End Funds
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 …
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)
OVERLAND PARK, KS / ACCESSWIRE / May 8, 2024 / Tortoise and the Board of its closed-end funds announced distributions for its closed-end funds.
Tortoise closed-end funds distribution details are as follows:
Fund | Ticker |
Distribution Amount |
Distribution Target of Average NAV |
Distribution Frequency |
Tortoise Energy Infrastructure Corp. | TYG | $0.71 | 7%-10% | Quarterly |
Tortoise Midstream Energy Fund, Inc. | NTG | $0.77 | 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 |
TYG, NTG, TTP, NDP and TPZ distributions are payable on May 31, 2024, to shareholders of record on May 24, 2024.
For book purposes, the source of distributions for each of TYG, NTG and NDP is estimated to be 0-20% ordinary income with the remainder as return of capital.
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."