Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc. Provide Section 19(a) Notice
LEAWOOD, KS / ACCESSWIRE / August 31, 2023 / This notice provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the distributions paid on August 31, 2023, and cumulative distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distributions, payable August 31, 2023, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.
Tortoise Pipeline & Energy Fund, Inc.
| Estimated Sources of Distributions | ||||
| ($) Current Distribution | % Breakdown of the Current Distribution | ($) Total Cumulative Distributions for the Fiscal Year to Date | % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date | |
| Net Investment Income | 0.0385 | 7% | 0.1006 | 6% |
| Net Realized Short-Term Capital Gains | 0.0000 | 0% | 0.0044 | 0% |
| Net Realized Long-Term Capital Gains | 0.4425 | 75% | 1.0521 | 59% |
| Return of Capital | 0.1090 | 18% | 0.6129 | 35% |
| Total (per common share) | 0.5900 | 100% | 1.7700 | 100% |
| Average annual total return (in relation to NAV) for the 5 years ending on 7/31/2023 | -8.49% |
| Annualized current distribution rate expressed as a percentage of NAV as of 7/31/2023 | 6.87% |
| Cumulative total return (in relation to NAV) for the fiscal year through 7/31/2023 | 3.18% |
| Cumulative fiscal year distributions as a percentage of NAV as 7/31/2023 | 5.16% |
Tortoise Power and Energy Infrastructure Fund, Inc.
| Estimated Sources of Distributions | ||||
| ($) Current Distribution | % Breakdown of the Current Distribution | ($) Total Cumulative Distributions for the Fiscal Year to Date | % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date | |
| Net Investment Income | 0.0265 | 25% | 0.2346 | 25% |
| Net Realized Short-Term Capital Gains | 0.0002 | 0% | 0.0022 | 0% |
| Net Realized Long-Term Capital Gains | 0.0474 | 45% | 0.3419 | 36% |
| Return of Capital | 0.0309 | 29% | 0.3663 | 39% |
| Total (per common share) | 0.1050 | 100% | 0.9450 | 100% |
| Average annual total return (in relation to NAV) for the 5 years ending on 7/31/2023 | 2.24% |
| Annualized current distribution rate expressed as a percentage of NAV as of 7/31/2023 | 7.88% |
| Cumulative total return (in relation to NAV) for the fiscal year through 7/31/2023 | 7.47% |
| Cumulative fiscal year distributions as a percentage of NAV as of 7/31/2023 | 5.91% |
You should not draw any conclusions about TTP's or TPZ's investment performance from the amount of this distribution or from the terms of TTP's and TPZ's distribution policies.