NXG Cushing® Midstream Energy Fund (NYSE: SRV) Announces Distributions
The NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced monthly distributions of $0.45 per common share for September, October, and November 2024. These distributions are payable to common shareholders on specific dates, with an estimated 100% return of capital. The Fund, a closed-end management investment company, focuses on midstream energy investments, aiming for high after-tax total returns from capital appreciation and current income. It invests at least 80% of its net assets in midstream energy companies involved in various aspects of energy infrastructure. The Fund's shares are traded on the NYSE under the symbol 'SRV'.
Il NXG Cushing® Midstream Energy Fund (NYSE: SRV) ha annunciato distribuzioni mensili di $0.45 per azione ordinaria per settembre, ottobre e novembre 2024. Queste distribuzioni sono pagabili agli azionisti ordinari in date specifiche, con un ritorno di capitale stimato del 100%. Il fondo, una società di investimento a gestione chiusa, si concentra su investimenti nell'energia midstream, puntando a elevati ritorni totali dopo le tasse provenienti dall'apprezzamento del capitale e dal reddito attuale. Investe almeno l'80% delle sue attivi netti in aziende di energia midstream coinvolte in vari aspetti delle infrastrutture energetiche. Le azioni del fondo sono quotate al NYSE con il simbolo 'SRV'.
El NXG Cushing® Midstream Energy Fund (NYSE: SRV) ha anunciado distribuciones mensuales de $0.45 por acción ordinaria para septiembre, octubre y noviembre de 2024. Estas distribuciones se pagarán a los accionistas ordinarios en fechas específicas, con un retorno de capital estimado del 100%. El fondo, una compañía de inversión de gestión cerrada, se enfoca en inversiones en energía midstream, buscando altos rendimientos totales después de impuestos provenientes de la apreciación del capital y del ingreso actual. Invierte al menos el 80% de sus activos netos en empresas de energía midstream involucradas en diversos aspectos de la infraestructura energética. Las acciones del fondo se negocian en la NYSE bajo el símbolo 'SRV'.
NXG Cushing® Midstream Energy Fund (NYSE: SRV)는 2024년 9월, 10월, 11월에 대해 주당 $0.45의 월 배당금을 발표했습니다. 이러한 배당금은 특정 날짜에 일반 주주에게 지급되며, 자본의 100% 반환이 예상됩니다. 이 펀드는 폐쇄형 관리 투자 회사로, 중간 에너지 투자에 중점을 두고 있으며, 자본 상승 및 현재 수익에서 높은 세후 총 수익을 목표로 하고 있습니다. 펀드는 최소한 80%의 순자산을 에너지 인프라의 다양한 측면에 연관된 중간 에너지 회사에 투자합니다. 펀드의 주식은 NYSE에서 'SRV' 기호로 거래됩니다.
Le NXG Cushing® Midstream Energy Fund (NYSE: SRV) a annoncé des distributions mensuelles de 0,45 $ par action ordinaire pour septembre, octobre et novembre 2024. Ces distributions seront versées aux actionnaires ordinaires à des dates spécifiques, avec un retour de capital estimé à 100%. Le fonds, une société d'investissement à capital fermé, se concentre sur les investissements dans l'énergie midstream, visant des rendements totaux élevés après impôts provenant de l'appréciation du capital et des revenus actuels. Il investit au moins 80% de ses actifs nets dans des entreprises d'énergie midstream impliquées dans divers aspects des infrastructures énergétiques. Les actions du fonds sont négociées à la NYSE sous le symbole 'SRV'.
Der NXG Cushing® Midstream Energy Fund (NYSE: SRV) hat monatliche Ausschüttungen von 0,45 $ pro Stammaktie für September, Oktober und November 2024 angekündigt. Diese Ausschüttungen werden an die Stammaktionäre zu bestimmten Daten ausgezahlt, mit einer geschätzten 100% Rückzahlung des Kapitals. Der Fonds, ein geschlossener Management-Investmentfonds, konzentriert sich auf Investitionen im Midstream-Energiebereich, mit dem Ziel, hohe nachsteuerliche Gesamtrenditen aus Kapitalwertsteigerungen und laufenden Erträgen zu erzielen. Der Fonds investiert mindestens 80% seines Nettovermögens in Midstream-Energieunternehmen, die in verschiedenen Aspekten der Energieinfrastruktur tätig sind. Die Anteile des Fonds werden an der NYSE unter dem Symbol 'SRV' gehandelt.
- Consistent monthly distributions of $0.45 per common share
- 100% of distributions estimated to be return of capital, potentially tax-advantageous for shareholders
- Clear investment focus on midstream energy sector, providing targeted exposure for investors
- Non-diversified investment strategy increases sector-specific risks
- Closed-end funds often trade at a discount to their net asset value
- Return of capital distributions may indicate the fund is not generating sufficient income from its investments
Record Date | Ex-Dividend Date | Payment Date | Distribution Amount | Return of Capital Estimate1 |
9/17/2024 | 9/17/2024 | 9/30/2024 | 100 % | |
10/15/2024 | 10/15/2024 | 10/31/2024 | 100 % | |
11/15/2024 | 11/15/2024 | 11/29/2024 | 100 % | |
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
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
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 NXG Investment Management
Cushing® Asset Management, LP ("
Contact:
Blake Nelson
NXG Investment Management
214-692-6334
www.nxgim.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 NXG Investment Management 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
View original content:https://www.prnewswire.com/news-releases/nxg-cushing-midstream-energy-fund-nyse-srv-announces-distributions-302235660.html
SOURCE NXG Investment Management
FAQ
What is the monthly distribution amount for NXG Cushing® Midstream Energy Fund (SRV) in 2024?
What percentage of SRV's distributions are estimated to be return of capital in 2024?
What is the primary investment focus of the NXG Cushing® Midstream Energy Fund (SRV)?
When will the final tax status of SRV's 2024 distributions be determined?
