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Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice

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Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) has released its Section 19(a) notice detailing the sources of distributions paid on October 31, 2024. The current distribution of $0.1050 per share comprises 16% from net investment income and 84% from return of capital. The fund's performance metrics show an average annual total return of 7.69% for the five years ending September 30, 2024, and a cumulative total return of 23.09% for the fiscal year through September 30, 2024. The annualized distribution rate stands at 6.73% of NAV.

Il Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) ha rilasciato il suo avviso di Sezione 19(a) che dettaglia le fonti delle distribuzioni pagate il 31 ottobre 2024. La distribuzione attuale di $0.1050 per azione è composta per il 16% da reddito netto da investimenti e per l'84% da restituzione di capitale. Le metriche di performance del fondo mostrano un rendimento annuale totale medio del 7,69% per i cinque anni terminati il 30 settembre 2024, e un rendimento totale cumulativo del 23,09% per l'anno fiscale fino al 30 settembre 2024. Il tasso di distribuzione annualizzato è del 6,73% del NAV.

El Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) ha publicado su aviso de Sección 19(a) detallando las fuentes de las distribuciones pagadas el 31 de octubre de 2024. La distribución actual de $0.1050 por acción se compone en un 16% de ingresos netos de inversiones y en un 84% de devolución de capital. Las métricas de rendimiento del fondo muestran un rendimiento total promedio anual del 7.69% para los cinco años que terminan el 30 de septiembre de 2024, y un rendimiento total acumulado del 23.09% para el año fiscal hasta el 30 de septiembre de 2024. La tasa de distribución anualizada se sitúa en el 6.73% del NAV.

토르토이즈 파워 및 에너지 인프라 펀드(NYSE:TPZ)는 2024년 10월 31일에 지급된 분배금의 출처를 상세히 설명하는 섹션 19(a) 통지를 발표했습니다. 현재 주당 $0.1050의 분배금은 순투자소득의 16%와 자본환급의 84%로 구성되어 있습니다. 이 펀드의 성과 지표는 2024년 9월 30일로 종료된 5년 동안의 연평균 총 수익률이 7.69%임을 보여주며, 2024년 9월 30일까지의 회계연도 동안의 총 누적 수익률이 23.09%임을 나타냅니다. 연환산 분배율은 NAV의 6.73%로 설정되어 있습니다.

Le Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) a publié son avis de Section 19(a) détaillant les sources des distributions versées le 31 octobre 2024. La distribution actuelle de $0.1050 par action se compose de 16 % de revenus nets d'investissement et de 84 % de retour de capital. Les indicateurs de performance du fonds montrent un rendement total annuel moyen de 7,69 % pour les cinq ans se terminant le 30 septembre 2024, et un rendement total cumulé de 23,09 % pour l'exercice jusqu'au 30 septembre 2024. Le taux de distribution annualisé s'élève à 6,73 % de la valeur liquidative (NAV).

Der Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) hat seine Mitteilung gemäß Abschnitt 19(a) veröffentlicht, in der die Quellen der am 31. Oktober 2024 gezahlten Ausschüttungen detailliert beschrieben werden. Die aktuelle Ausschüttung von $0.1050 pro Aktie setzt sich zu 16% aus Nettoeinkünften aus Investitionen und zu 84% aus Kapitalrückflüssen zusammen. Die Leistungskennzahlen des Fonds zeigen eine durchschnittliche jährliche Gesamtrendite von 7,69% für die fünf Jahre, die am 30. September 2024 enden, sowie eine kumulative Gesamtrendite von 23,09% für das Haushaltsjahr bis zum 30. September 2024. Der annualisierte Ausschüttungssatz beträgt 6,73% des NAV.

Positive
  • Five-year average annual total return of 7.69%
  • Strong fiscal year cumulative total return of 23.09%
  • Consistent distribution rate of 6.73% of NAV
Negative
  • 84% of current distribution consists of return of capital rather than earnings
  • Fund is distributing more than its income and realized capital gains

Insights

This routine Section 19(a) notice details TPZ's distribution characteristics without presenting material changes to the fund's strategy or performance. The key metrics show an average 5-year return of 7.69% and a current distribution rate of 6.73% of NAV. Most notably, 84% of the current distribution comes from return of capital rather than investment income, which could be concerning for long-term sustainability.

The fund's fiscal year-to-date performance shows a strong total return of 23.09%, though distributions continue to exceed traditional income sources. While the distribution remains stable at $0.105 per share, investors should monitor the high return of capital component, as it effectively represents a return of their initial investment rather than genuine investment returns.

OVERLAND PARK, KS / ACCESSWIRE / October 31, 2024 / This required notice under Section 19(a) of the Investment Company Act of 1940 provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the sources of the distributions paid on Oct. 31, 2024, and cumulative distributions paid fiscal year-to-date.

The following table sets forth the estimated amounts of the current distributions, payable Oct. 31, 2024, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.

Tortoise Power and Energy Infrastructure Fund, Inc.

Estimated Sources of Distributions

($) Current Distribution

% Breakdown of the Current Distribution

($) Total Cumulative Distributions for the Fiscal Year to Date

% Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date

Net Investment Income

0.0163

16%

0.2540

22%

Net Realized Short-Term Capital Gains

0.0000

0%

0.0000

0%

Net Realized Long-Term Capital Gains

0.0000

0%

0.0000

0%

Return of Capital

0.0887

84%

0.9010

78%

Total (per common share)

0.1050

100%

1.1550

100%

Average annual total return (in relation to NAV) for the five years ending on September 30, 2024

7.69%

Annualized current distribution rate expressed as a percentage of NAV as of September 30, 2024

6.73%

Cumulative total return (in relation to NAV) for the fiscal year through September 30, 2024

23.09%

Cumulative fiscal year distributions as a percentage of NAV as of September 30, 2024

6.17%

You should not draw any conclusions about TPZ's investment performance from the amount of this distribution or from the terms of TPZ's distribution policies.

TPZ estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TPZ is paid back to you. A return of capital distribution does not necessarily reflect TPZ's investment performance and should not be confused with "yield" or "income."

The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ's investment experience during the remainder of their fiscal years and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Tortoise Capital Advisors is the adviser to the Tortoise Power and Energy Infrastructure Fund, Inc.

For additional information on this fund, please visit cef.tortoiseadvisors.com.

About Tortoise Capital

With approximately $8.5 billion in assets under management as of September 30, 2024, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well-positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered fund manager that invests primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit www.TortoiseAdvisors.com.

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.

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.

Media Contacts

Margaret Kirch Cohen/Richard Chimberg
Newton Park PR
+1 847-507-2229
+1 617-312-4281
margaret@newtonparkpr.com
rich@newtonparkpr.com

SOURCE: Tortoise Capital



View the original press release on accesswire.com

FAQ

What is TPZ's current distribution amount per share for October 31, 2024?

TPZ's current distribution amount is $0.1050 per common share.

What is TPZ's five-year average annual total return as of September 30, 2024?

TPZ's five-year average annual total return is 7.69% in relation to NAV.

What percentage of TPZ's current distribution comes from return of capital?

84% of TPZ's current distribution comes from return of capital.

What is TPZ's annualized distribution rate as of September 30, 2024?

TPZ's annualized distribution rate is 6.73% of NAV as of September 30, 2024.

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