Kayne Anderson Closed-End Funds Announce 2021 Tax Characterization of Distributions and Filing of Annual Reports

Rhea-AI Summary

On January 28, 2022, Kayne Anderson announced the tax characterization of 2021 distributions for Kayne Anderson Energy Infrastructure Fund (KYN) and Kayne Anderson NextGen Energy & Infrastructure Fund (KMF). Notably, 100% of the distributions for both funds are categorized as nondividend distributions (return of capital). This classification may influence investors' tax obligations. Additionally, the annual reports for KYN and KMF for the year ending November 30, 2021, are available online. Investors are encouraged to consult their tax advisors for personalized advice.

Positive

• 100% of distributions for KYN and KMF classified as nondividend distributions (return of capital).

Negative

• None.

HOUSTON, Jan. 28, 2022 (GLOBE NEWSWIRE) --

2021 Tax Characterization of Distributions

KA Fund Advisors, LLC (“Kayne Anderson”), which serves as the adviser to Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) announced today the tax characterization of 2021 distributions to stockholders.

		KYN Common Shares			KMF Common Shares
Ordinary dividends		-			-
Qualified dividends		-			-
Capital gains distributions		-			-
Nondividend distributions (return of capital)		100	%		100	%
		100	%		100	%

Additional information regarding the tax characterization of KYN’s and KMF’s 2021 distributions is available at www.kaynefunds.com.

2021 Annual Reports

Kayne Anderson also announced that copies of KYN and KMF’s annual report for the fiscal year ended November 30, 2021, are available online at www.kaynefunds.com. To request a hard copy of these reports, free of charge, please call 877-657-3863 or email cef@kaynecapital.com.

This information is provided for general informational purposes only. It does not constitute, and should not be construed as, tax, legal, investment, or other professional advice and cannot be used or relied upon for the purpose of avoiding tax penalties. Investors should consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) 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. The company's investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the company's most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) 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. The fund's investment objective is to provide a high level of total return with an emphasis on making cash distributions to its stockholders. KMF seeks to achieve its investment objective by investing at least 80% of its total assets in securities of Energy Companies and Infrastructure Companies. The fund anticipates that the majority of its investments will consist of investments in" NextGen" companies, which we define as Energy Companies and Infrastructure Companies that are meaningfully participating in or benefitting from the Energy Transition. See Glossary of Key Terms in the fund's most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

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 consider any investor's specific objectives or circumstances. Please consult with your investment, tax, or legal adviser regarding your individual circumstances before investing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the company's filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's investment objectives will be attained.

Contact: Investor Relations at 877-657-3863 or cef@kaynecapital.com

FAQ

What are the tax implications of KYN and KMF's 2021 distributions?

Both KYN and KMF reported that 100% of their 2021 distributions are categorized as nondividend distributions, which could impact investors' tax liabilities.

Where can I find KYN and KMF's annual reports?

The annual reports for KYN and KMF for the fiscal year ending November 30, 2021, can be found on Kayne Anderson's website.

When was the tax characterization announcement for KYN and KMF made?

The tax characterization announcement for KYN and KMF was made on January 28, 2022.

What is the significance of nondividend distributions for stockholders?

Nondividend distributions are classified as a return of capital, which can affect the tax treatment for stockholders, potentially reducing their tax liabilities.