TEAF Announces 2022 Fund Tax Characterization of Distributions, Release of Annual Report
Ecofin Sustainable and Social Impact Term Fund (TEAF) has announced the tax characterization of its 2022 distributions to common stockholders. The distributions were classified as 35% qualified dividend income, 9% ordinary income, and 56% return of capital. Additionally, TEAF released its 2022 annual stockholders' report, accessible online or by request. The fund's adviser, TCA Advisors, emphasizes that the press release does not act as an offer to sell or buy securities. It also contains forward-looking statements that involve risks and uncertainties, which may not reflect actual results.
- 35% of distributions are characterized as qualified dividend income, potentially benefiting shareholders' tax situations.
- The release of the 2022 annual report provides transparency and additional insights to investors.
- 56% of distributions are characterized as return of capital, which may signal lower earnings sustainability.
- The high percentage of return of capital could indicate potential risks for future distribution growth.
OVERLAND PARK, KS / ACCESSWIRE / February 7, 2023 / Today Ecofin Sustainable and Social Impact Term Fund (TEAF) announced the tax characterization of 2022 distributions paid to its common stockholders.
2022 Tax Characterization of Distributions
For tax purposes, TEAFs' 2022 distributions were characterized as
Additional information regarding the tax characterization of the 2022 distributions is available at www.TortoiseEcofin.com.
A copy of the information is also available upon request by calling (866) 362-9331.
Nothing contained herein or therein should be construed as tax advice. Consult your tax advisor for more information. Furthermore, you may not rely upon any information herein or therein for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code.
Annual Report
The adviser also announced today the release of the 2022 annual stockholders' report. The annual report is available online at https://cef.ecofininvest.com/funds/teaf/. Please call (866) 362-9331 or email info@tortoiseecofin.com to request a hard copy of this report free of charge.
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.
Safe harbor statement
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.
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 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 funds and Tortoise Capital Advisors 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 funds and Tortoise Capital Advisors 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/738486/TEAF-Announces-2022-Fund-Tax-Characterization-of-Distributions-Release-of-Annual-Report
FAQ
What percentage of TEAF's 2022 distributions are classified as qualified dividend income?
What is the total return of capital percentage for TEAF's 2022 distributions?
Where can I find TEAF's 2022 annual stockholders' report?
