Kayne Anderson MLP/Midstream Investment Company Announces Distribution of $0.15 per Share for Q3 2020

Rhea-AI Summary

Kayne Anderson MLP/Midstream Investment Company (KYN) announced a quarterly distribution of $0.15 per share for the period ending August 31, 2020, payable to shareholders on September 30, 2020. The ex-dividend date is September 21, 2020 and the record date is September 22, 2020. The Company anticipates declaring the next distribution in December 2020, subject to Board approval and compliance with debt covenants. The distribution is categorized as a return of capital, estimated at 100% based on fiscal 2020 earnings.

Positive

• Quarterly distribution of $0.15 per share reflects ongoing income generation.
• 100% of the current distribution is categorized as a return of capital, preserving shareholder value.
• Next distribution expected in December 2020, indicating a planned ongoing commitment to shareholders.

Negative

• Future distributions are contingent on Board approval and debt covenant compliance, introducing uncertainty.
• The amount and timing of future distributions may vary based on market conditions and portfolio adjustments.

HOUSTON, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) (the “Company”) announced today a quarterly distribution of $0.15 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 Company 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 Company’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	$0.15		100%

^{(1)  The return of capital estimate is based on the Company’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 MLP/Midstream Investment Company 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. KYN’s investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates (“MLPs”), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal (collectively with MLPs, “Midstream Energy Companies”).

The Company 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 Company’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 Company’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 Company 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.

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

FAQ

What is the quarterly distribution amount for KYN announced on September 10, 2020?

The quarterly distribution amount for KYN is $0.15 per share.

When will KYN's distribution be paid to shareholders?

The distribution will be paid to shareholders on September 30, 2020.

What is the ex-dividend date for KYN's distribution?

The ex-dividend date for KYN's distribution is September 21, 2020.

Is the KYN distribution guaranteed?

No, the amount of distributions is not guaranteed and may vary based on market conditions and portfolio changes.

What is the expected date for KYN's next distribution declaration?

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