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NXG Cushing Midstream Energy Fund (NYSE: SRV) delivers focused updates on midstream infrastructure investments through this dedicated news hub. Track earnings announcements, strategic acquisitions, and operational developments critical to understanding the fund's performance in energy markets.
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The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has officially changed its name to the "NXG Cushing Midstream Energy Fund" effective April 3, 2023. This alteration follows changes to the Fund's investment policies, which now focus on midstream energy investments rather than exclusively MLP investments. The Fund aims to maintain its strategy of achieving a high after-tax total return through capital appreciation and current income, investing at least 80% of net assets in midstream energy companies. No further changes to investment policies are anticipated, and no action is required from shareholders.
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.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a name change to NXG Cushing Midstream Energy Fund effective April 3, 2023. The Fund will continue to pursue its investment objective of high after-tax total returns through capital appreciation and current income. Post-change, the Fund will invest at least 80% of its net assets in midstream energy investments, transitioning from a focus on infrastructure MLPs. As of January 27, 2023, 92.42% of its net assets were already in midstream investments, suggesting minimal impact on the Fund's portfolio. This change aims to align better with market trends while maintaining its regulatory investment company status.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) and NXG NextGen Infrastructure Income Fund (NYSE: NXG) announced leadership changes effective November 30, 2022. John H. Alban retired as CEO, with Mark Rhodes, previously of Focal Point Consulting, Bank of America Merrill Lynch, and J.P. Morgan, succeeding him. The Board of Trustees expressed gratitude for Alban's service. The press release includes disclaimers about investment risks and the nature of closed-end funds, emphasizing fluctuations in net asset value and potential discounts on market value.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced monthly distributions of $0.45 per common share for December 2022 and January 2023. The record dates for these payments are December 13 and January 18, with ex-dividend dates on December 12 and January 17, and payments scheduled for December 30 and January 31
Additionally, approximately 86% of these distributions are expected to be treated as a return of capital, based on current earnings estimations.
