Tortoise Announces Distribution Amounts for Its Closed-End Funds
OVERLAND PARK, KS / ACCESSWIRE / February 7, 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 | Distribution Target | Distribution |
| 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 February 29, 2024, to shareholders of record on February 22, 2024.
For book purposes, the source of distributions for TYG is estimated to be 0-10% ordinary income with the remainder as return of capital. Each of NTG and NDP is estimated to be 10-20% 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."
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.
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise's track record of energy value chain investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseAdvisors.com.