Cushing® MLP & Infrastructure Total Return Fund (NYSE: SRV) Announces 25% Distribution Increase

Rhea-AI Summary

The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a 25% increase in its monthly distributions from $0.12 to $0.15 per share for February to May 2022. Shareholders will receive these distributions on set payment dates, with approximately 97% expected to be treated as a return of capital. Additionally, the Fund's management fees will be waived for the next year. The declaration anticipates compliance with financial covenants and consideration of net income and available cash.

Positive

• 25% increase in monthly distributions to $0.15 per share.
• 97% of distributions expected to be treated as a return of capital.
• Waiver of management fees for the next twelve months.

Negative

• None.

DALLAS, Feb. 1, 2022 /PRNewswire/ -- The Cushing^® MLP & Infrastructure Total Return Fund (NYSE: SRV) (the "Fund") declared monthly distributions of $0.15 per common share for each of February, March, April and May, 2022. These distributions are a 25% increase over the previous distributions of $0.12 per month. 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
2/15/22	2/14/22	2/28/22	$0.15	97%
3/15/22	3/14/22	3/31/22	$0.15	97%
4/18/22	4/14/22	4/29/22	$0.15	97%
5/16/22	5/13/22	5/31/22	$0.15	97%

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 97% 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 2023, 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.

Each 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.

In addition, the Fund's Board of Trustees has approved a continuation of the waiver of the Fund's management fees in the amount of 0.25% of the Fund's Managed Assets for the next twelve months.

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 master limited partnerships ("MLPs") and MLP-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.

Future distributions will be made by the Fund if and when declared by the Fund's Board of Trustees, based on a consideration of number of factors, including the Fund's continued compliance with terms and financial covenants of its leverage financing facility, , the Fund's net investment income, financial performance and available cash.  There can be no assurance that the amount or timing of distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of distributions in the future.

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.

Contact:
Blake Nelson
Cushing^® Asset Management, LP
214-692-6334
www.cushingasset.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 increase for SRV in 2022?

The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) increased its monthly distribution by 25% from $0.12 to $0.15 per share.

When will the distributions for SRV be paid?

Distributions for SRV will be paid on the last day of February, March, April, and May 2022.

What percentage of SRV's distributions is expected to be a return of capital?

Approximately 97% of SRV's distributions are expected to be treated as a return of capital.

Is there a management fee waiver for SRV?

Yes, the Fund's Board of Trustees has approved a waiver of management fees for the next twelve months.

What are the payment dates for SRV distributions?

Payment dates are scheduled for February 28, March 31, April 29, and May 31, 2022.