Cushing® NextGen Infrastructure Income Fund (NYSE: SZC) Announces Distributions

Rhea-AI Summary

The Cushing NextGen Infrastructure Income Fund (SZC) announced monthly distributions of $0.2132 per common share for June, July, and August 2022. The record dates for these distributions are June 14, July 18, and August 16, with payment dates on June 30, July 29, and August 31, respectively. Approximately 72% of the distributions are estimated to be returns of capital. The Fund invests primarily in infrastructure-related securities, targeting a high total return with an emphasis on current income. The Fund's future distributions are not guaranteed and depend on multiple factors.

Positive

• Monthly distribution declared at $0.2132 per share for three consecutive months.
• High estimated return of capital at 72% for the distributions.

Negative

• No assurance of future distributions; they may be suspended or discontinued.
• Fluctuating net asset value tied to underlying securities and potential market discount.

DALLAS, June 1, 2022 /PRNewswire/ -- The Cushing^® NextGen Infrastructure Income Fund (the "Fund") declared its monthly distribution of $0.2132 per common share for each of June, July, and August, 2022. 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
6/14/22	6/13/22	6/30/22	$0.2132	72%
7/18/22	7/15/22	7/29/22	$0.2132	72%
8/16/22	8/15/22	8/31/22	$0.2132	72%

^{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 94% 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.

ADDITIONAL INFORMATION ABOUT THE FUND

The Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high total return with an emphasis on 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 equity and debt securities of infrastructure companies, including: (i) energy infrastructure companies, (ii) industrial infrastructure companies, (iii) sustainable infrastructure companies, and (iv) technology and communication infrastructure companies. The Fund will invest no more than 25% of its Managed Assets in securities of energy master limited partnerships ("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 "SZC."

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 Funds 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 dividend amount for SZC for June, July, and August 2022?

The Cushing NextGen Infrastructure Income Fund (SZC) declared a monthly distribution of $0.2132 per share for June, July, and August 2022.

When are the payment dates for the SZC distributions?

Payment dates for the distributions are June 30, July 29, and August 31, 2022.

What percentage of the SZC distribution is a return of capital?

Approximately 72% of the SZC distribution is estimated to be a return of capital.

What factors influence future distributions of the SZC fund?

Future distributions of the SZC fund depend on net investment income, financial performance, and compliance with covenants of its financing facility.

How does the net asset value of SZC affect its share price?

The net asset value of SZC fluctuates with the underlying securities, and closed-end funds often trade at a discount to their net asset value.