Cushing® MLP & Infrastructure Total Return Fund (NYSE: SRV) Announces Distributions

Rhea-AI Summary

The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has declared monthly distributions of $0.45 per common share for February through May 2023. Key dates include the record date of 2/15/2023, ex-dividend date of 2/14/2023, and payment date of 2/28/2023. Approximately 86% of these distributions are anticipated to be treated as a return of capital, based on current earnings and profits projections. The Fund focuses on investing in energy infrastructure and midstream investments, aiming for a high after-tax total return. It operates as a closed-end investment company.

Positive

• Monthly distributions of $0.45 per share for four consecutive months.
• Expected returns of capital estimated at 86% of distributions.

Negative

• No guarantees of achieving investment objectives.
• Potential market price trading at a discount to net asset value.

DALLAS, Feb. 1, 2023 /PRNewswire/ -- The Cushing® MLP & Infrastructure Total Return Fund (NYSE: SRV) (the "Fund") declared monthly distributions of $0.45 per common share for each of February, March, April, and May 2023.  These monthly distributions will be payable to common shareholders pursuant to the table below:

Record Date	Ex-Dividend Date	Payment Date	Distribution Amount	Return of Capital Estimate1
2/15/2023	2/14/2023	2/28/2023	$0.45	86 %
3/15/2023	3/14/2023	3/31/2023	$0.45	86 %
4/18/2023	4/17/2023	4/28/2023	$0.45	86 %
5/15/2023	5/12/2023	5/31/2023	$0.45	86 %

¹The return of capital estimate is based on the Fund's current anticipated earnings and profits for the fiscal year and does not include a projection of gains and losses on the sale of securities which may occur during the remainder of the year.  It is currently anticipated, but not certain, that approximately 86% of the Fund's distributions will be treated as a return of capital. The final determination of such amounts will be made and reported to shareholders in early 2024, after the end of the calendar year when the Fund determines its earnings and profits for the year. The final tax status of each distribution may differ substantially from this preliminary information.

The distribution shall be paid on the payment date unless the payment of such distribution is deferred by the Fund's Board of Trustees upon a determination that such deferral is required in order to comply with applicable law or to ensure that the Fund remains solvent and able to pay its debts as they become due and continue as a going concern.

ADDITIONAL INFORMATION ABOUT THE FUND

The Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high after-tax total return from a combination of capital appreciation and current income. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in a portfolio of energy infrastructure midstream and related investments. The Fund will invest no more than 25% of its Managed Assets in securities of MLPs that qualify as publicly traded partnerships under the Internal Revenue Code. The Fund's shares are traded on the New York Stock Exchange under the symbol "SRV."

There can be no assurance that the Fund will achieve its investment objectives. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value.

ABOUT CUSHING® ASSET MANAGEMENT, LP

Cushing is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts. Cushing is doing business as NXG Investment Management providing Next Generation investment strategies to investors seeking long-term growth in companies focused on a clean and sustainable future as well as traditional and transformational infrastructure companies.

Contact:
Blake Nelson
Cushing® Asset Management, LP
214-692-6334
www.nxgim.com
www.cushingcef.com

IMPORTANT INFORMATION

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Fund and Cushing believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and Cushing do not assume a duty to update this forward-looking statement.

 

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SOURCE Cushing® Asset Management, LP

FAQ

What is the distribution amount announced by SRV for early 2023?

The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a distribution of $0.45 per common share for February, March, April, and May 2023.

When will the distributions for SRV be paid?

Distributions for SRV will be paid on the following dates: February 28, March 31, April 28, and May 31, 2023.

What percentage of the SRV distribution is expected to be a return of capital?

Approximately 86% of the SRV distributions is expected to be treated as a return of capital.

What are the key record and ex-dividend dates for SRV in 2023?

The key record dates for SRV are February 15, March 15, April 18, and May 15, 2023, with ex-dividend dates the day prior.

Is there a risk associated with investing in SRV?

Investing in SRV involves risks, including the potential that the fund may not achieve its investment objectives and may trade at a discount to its net asset value.