Kayne Anderson Midstream/Energy Fund Announces Distribution of $0.09 per Share for Q3 2020

Rhea-AI Summary

Kayne Anderson Midstream/Energy Fund, Inc. (KMF) announced a quarterly distribution of $0.09 per share for the quarter ending August 31, 2020. This payment is scheduled for September 30, 2020. The Fund intends to declare the next distribution in December 2020, subject to Board approval and compliance with debt covenants. The distribution amount may vary based on factors like portfolio changes and market conditions. Notably, the return of capital estimate is 0%, reflecting anticipated earnings for fiscal 2020. Forward-looking statements include risks affecting investment objectives.

Positive

• Quarterly distribution of $0.09 per share announced.
• Distribution payable on September 30, 2020.

Negative

• Next distribution subject to Board of Directors' approval.
• Future payments depend on covenants of debt agreements and preferred stock terms.

HOUSTON, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson Midstream/Energy Fund, Inc. (NYSE: KMF) (the “Fund”) announced today a quarterly distribution of $0.09 per share for the fiscal quarter ended August 31, 2020. This distribution is payable to common stockholders on September 30, 2020 (as outlined in the table below).

The Fund expects the next distribution to be declared and paid in December 2020. Payment of future distributions is subject to the Board of Directors’ approval, as well as meeting the covenants of the Fund’s debt agreements and terms of its preferred stock.

Ex-Date	Record Date	Payment Date	Distribution Amount	Return of Capital Estimate(1)
9/21/20	9/22/20	9/30/20	$0.09	0%

_{(1)  The return of capital estimate is based on the Fund’s anticipated earnings and profits for fiscal 2020. The final determination of the tax character of distributions will be made in early 2021 and may differ substantially from this preliminary information.}

Kayne Anderson Midstream/Energy Fund, Inc. is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. KMF’s investment objective is to provide a high level of total return with an emphasis on cash distributions to its stockholders by investing at least 80% of its total assets in securities of companies in the Midstream/Energy Sector, consisting of: (a) Midstream Master Limited Partnerships (“MLPs”), (b) Midstream Companies, (c) Other MLPs and (d) Other Energy Companies. KMF anticipates that the majority of its investments will consist of investments in Midstream MLPs and Midstream Companies. See Glossary of Key Terms in the Fund’s quarterly reports for a description of these investment categories and for the meaning of capitalized terms.

The Fund pays cash distributions to common stockholders at a rate that may be adjusted from time to time. The amount of distributions is not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or take into account the specific objectives or circumstances of any investor. Please consult with your investment, tax or legal adviser regarding your individual circumstances prior to investing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains “forward-looking statements” as defined under the U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Fund’s filings with the SEC, available at www.sec.gov. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained.

KA Fund Advisors, LLC
Investor Relations
877-657-3863
cef@kaynecapital.com
www.kaynefunds.com

FAQ

What is the latest distribution amount for KMF?

The latest quarterly distribution amount for Kayne Anderson Midstream/Energy Fund (KMF) is $0.09 per share.

When is the KMF distribution payment date?

The distribution payment date for KMF is September 30, 2020.

What is the return of capital estimate for KMF?

The return of capital estimate for KMF is 0%, based on anticipated earnings for fiscal 2020.

When is the next distribution declaration for KMF expected?

The next distribution for KMF is expected to be declared in December 2020.

Are future distributions for KMF guaranteed?

No, future distributions for KMF are not guaranteed and may vary based on market conditions and portfolio holdings.