Tortoise Capital Advisors Announces Distribution Dates and Amounts for Closed-End Funds
Certain closed-end funds managed by Tortoise Capital Advisors declaredthe following distributions today.
% Change from Prior Distribution
% Change from Prior Year
Tortoise Energy Infrastructure Corp.
Tortoise Energy Capital Corp.
Tortoise North American Energy Corp.
Tortoise MLP Fund, Inc.
Tortoise Pipeline & Energy Fund, Inc.
The TYG, TYY, TYN, NTG and TTP quarterly distributions will be paid on
Sept. 4, 2012 to stockholders of record on Aug. 24, 2012. For tax
purposes, the ultimate characterization of distributions will be made
after the determination of earnings and profits after year-end. For book
purposes, the source of distributions for TYG, TYY, TYN and NTG is
estimated to be 100 percent return of capital; the source of
distribution for TTP is estimated to be approximately 60-70 percent
ordinary income with the remainder return of capital.
Tortoise Power and Energy Infrastructure Fund, Inc.
The TPZ monthly distributions will be paid on Sept. 28, 2012, Oct. 31,
2012 and Nov. 30, 2012 to stockholders of record on the respective dates
of Sept. 24, 2012, Oct. 24, 2012 and Nov. 23, 2012. TPZ will report the
sources for these monthly distributions at the time of payment in the
applicable Section 19(a) Notice.
You should not draw any conclusions about TPZ’s investment performance
from the amount of these distributions or from the terms of TPZ’s
TPZ estimates that it has distributed more than its income and capital
gains; therefore, a portion of the distribution may be a return of
capital. A return of capital may occur, for example, when some or all of
the money that you invested in TPZ is paid back to you. A return of
capital distribution does not necessarily reflect TPZ’s investment
performance and should not be confused with “yield” or “income.”
The amounts and sources of distributions TPZ reports 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 TPZ’s investment experience during the remainder of its
fiscal year and may be subject to changes based on tax regulations. TPZ
will 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 listed energy infrastructure investments. As of July 31, 2012, the
adviser had approximately $8.6 billion of assets under management in
NYSE-listed closed-end investment companies, an open-end fund and other
accounts. For more information, visit www.tortoiseadvisors.com.
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.
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.