Ecofin Sustainable and Social Impact Term Fund (TEAF) Announces its Upcoming Monthly Distributions

Rhea-AI Summary

Ecofin Sustainable and Social Impact Term Fund (TEAF) has announced its monthly distribution of $0.09 per share, aligning with its managed distribution target of 6-8% of the Fund's trailing average NAV. The upcoming distribution dates are March 31, 2023, April 28, 2023, and May 31, 2023, with record dates on March 24, April 21, and May 24 respectively. For accounting purposes, approximately 40-60% of the distributions are estimated to be from ordinary income, with the remainder classified as return of capital. Tax characterization will be determined after the year-end. For further details, please visit the fund's page.

Positive

• Monthly distribution of $0.09 per share aligns with managed distribution target of 6-8% of trailing average NAV.
• Upcoming payable dates on March 31, April 28, and May 31 enhance shareholder returns.

Negative

• None.

OVERLAND PARK, KS / ACCESSWIRE / February 9, 2023 / Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) announced its monthly distribution of $0.09 per share. This distribution falls within the managed distribution target range of 6-8% of the Fund's trailing average NAV.

Upcoming distribution dates

TEAF monthly distributions are payable on March 31, 2023, April 28, 2023, and May 31, 2023, to shareholders of record on the respective dates of March 24, 2023, April 21, 2023, and May 24, 2023.

For book purposes, the source of distributions for TEAF is estimated to be approximately 40 to 60% ordinary income, with the remainder as return of capital. For tax purposes, the characterization will not be made until determination of earnings and profits after year end.

For additional information on this fund, please visit https://cef.ecofininvest.com/funds/teaf/.

TCA Advisors is the adviser to Ecofin Sustainable and Social Impact Term Fund and Ecofin Advisors Limited is the fund's sub-adviser.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and TCA 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 fund'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 TCA do not assume a duty to update this forward-looking statement.

Contact Information

For more information contact Jen Ashlock at (913) 981-1020 or info@tortoiseecofin.com.

SOURCE: Ecofin

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https://www.accesswire.com/738879/Ecofin-Sustainable-and-Social-Impact-Term-Fund-TEAF-Announces-its-Upcoming-Monthly-Distributions

FAQ

What is the distribution amount announced by Ecofin Sustainable and Social Impact Term Fund (TEAF)?

Ecofin Sustainable and Social Impact Term Fund (TEAF) has announced a monthly distribution of $0.09 per share.

When are the upcoming distribution dates for TEAF?

The upcoming distribution dates for TEAF are March 31, 2023, April 28, 2023, and May 31, 2023.

What percentage of the TEAF distributions is expected to be from ordinary income?

TEAF estimates that approximately 40 to 60% of its distributions will be from ordinary income.

How will TEAF distributions be classified for tax purposes?

The tax characterization of TEAF distributions will be determined after year-end based on earnings and profits.