Welcome to our dedicated page for Kayne Anderson Energy Infrastructure Fund news (Ticker: KYN), a resource for investors and traders seeking the latest updates and insights on Kayne Anderson Energy Infrastructure Fund stock.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company committed to delivering a high after-tax total return, with a particular focus on cash distributions to its stockholders. Registered under the Investment Company Act of 1940, KYN strategically invests at least 80% of its total assets in securities of Energy Infrastructure companies. The fund primarily targets entities involved in the midstream energy sector, which includes pipelines, storage, and other energy infrastructure assets.
Recently, KYN has been navigating significant corporate activities, including a merger with Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF). This merger, approved by stockholders and set to be finalized on November 13, 2023, aims to enhance the combined entity's ability to capitalize on long-term growth opportunities in the energy infrastructure sector. KMF stockholders had the option to receive either newly issued common stock of KYN or cash, subject to proration procedures to ensure a balanced allocation.
KYN is managed by KA Fund Advisors, LLC, a subsidiary of Kayne Anderson Capital Advisors, L.P., which brings extensive expertise in the energy sector. The fund is designed to offer investors exposure to the robust and stable cash flows generated by energy infrastructure assets, which are often less sensitive to commodity price fluctuations compared to other energy investments.
Financially, KYN emerged post-merger with total assets approximating $2.3 billion and a net asset value (NAV) of about $1.7 billion. The effective NAV per share was $9.95 with approximately 169.1 million shares outstanding. This strong financial footing is a testament to KYN's strategic investment approach and commitment to shareholder value.
KYN’s investment strategy and recent achievements highlight its continued dedication to providing robust returns and consistent cash distributions. Investors seeking a reliable income stream backed by essential energy infrastructure assets find KYN a compelling option in their portfolios.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a quarterly distribution of $0.21 per share for the fiscal quarter ending February 28, 2023, marking a 5% increase from the previous distribution of $0.20. This distribution is payable to common stockholders on April 17, 2023, with an ex-dividend date of April 6, 2023. The estimated return of capital is projected at 20%. The company, focused on providing high after-tax total returns, invests at least 80% of its assets in Energy Infrastructure Companies. However, distribution amounts may vary based on market conditions and changes in portfolio holdings.
On March 2, 2023, Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) unveiled its financial status as of February 28, 2023. The fund reported net assets of $1.4 billion and a net asset value per share of $10.06. Its asset coverage ratios were notably strong, with a 577% coverage ratio for senior securities and a 424% ratio for total leverage. As of the reporting date, the company had 136,131,530 common shares outstanding. The vast majority (84%) of its long-term investments were in midstream energy companies. This summary reflects the fund's ongoing commitment to providing substantial returns to its shareholders.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a new $175 million unsecured revolving credit facility, set to mature on February 23, 2024. This replaces its previous $200 million facility that was due on February 24, 2023. The interest rate is based on SOFR plus a spread of 1.40% to 2.25%, currently set at SOFR plus 1.40% due to the company’s asset coverage ratios. No borrowings were outstanding as of the announcement date. The fund aims to provide high after-tax total returns, primarily through investments in energy infrastructure companies, with at least 80% of its total assets allocated to this sector.
Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) reported its net assets at $1.4 billion and net asset value per share of $10.32 as of January 31, 2023. The asset coverage ratio for senior securities was 546%, while total leverage coverage sat at 411%. The total assets amounted to $1.98 billion, with major investments allocated to Midstream Energy Companies (83%), Utility Companies (9%), and Renewable Infrastructure (7%). The company had 136,131,530 common shares outstanding.
On January 26, 2023, Kayne Anderson Fund Advisors announced the availability of annual reports for its funds, Kayne Anderson Energy Infrastructure Fund (KYN) and Kayne Anderson NextGen Energy & Infrastructure Fund (KMF), for the fiscal year ending November 30, 2022. These reports can be accessed online at www.kaynefunds.com. KYN and KMF aim to provide high after-tax total returns by investing primarily in energy infrastructure and next-generation energy companies. Shareholders can request hard copies of the reports via phone or email. Forward-looking statements are included, cautioning investors about various risks that could affect performance.
On January 24, 2023, KA Fund Advisors announced the tax characterization of 2022 distributions for Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF). KYN reported that 100% of its distributions are qualified dividends, while KMF disclosed that 21% of its distributions are qualified dividends and 79% are nondividend distributions (return of capital). No ordinary dividends or capital gains distributions were reported for either fund. Investors are encouraged to consult their tax advisors for specific implications related to these distributions.
Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) reported its financial position as of December 31, 2022, revealing net assets of $1.4 billion and a net asset value per share of $10.06. The asset coverage ratio for senior securities was 520%, while total leverage reached 395%. The fund's long-term investments are primarily in midstream energy companies (83%). The total assets were valued at $1.94 billion, with total liabilities at $111.1 million. The firm aims to provide high after-tax returns and cash distributions to shareholders.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) has announced a quarterly distribution of $0.20 per share for the fiscal period ending November 30, 2022. This distribution will be payable on January 11, 2023, with the ex-date set for January 3, 2023 and the record date on January 4, 2023. The Company aims to achieve high after-tax total returns by investing at least 80% of its assets in Energy Infrastructure Companies. The return of capital is estimated at 20%. Distribution amounts may vary due to portfolio changes and market conditions.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) released its unaudited statement of assets and liabilities as of November 30, 2022. The fund reported net assets of $1.4 billion with a net asset value per share of $10.64. Asset coverage ratios under the Investment Company Act showed robust financial health, with a 602% coverage for senior securities and 443% for total leverage. The fund holds investments primarily in midstream energy companies (83%), and its top holdings include Energy Transfer LP and MPLX LP, reflecting a diverse energy infrastructure portfolio.
Kayne Anderson Energy Infrastructure Fund (KYN) announced its unaudited assets and net asset value as of October 31, 2022. The Company reported net assets of $1.4 billion and a net asset value per share of $10.33. The asset coverage ratio for senior securities was 582%, while total leverage stood at 430%. Total long-term investments amounted to $1.95 billion, with midstream energy companies constituting 84% of the portfolio. Notably, KYN had 136,131,530 common shares outstanding.
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