Welcome to our dedicated page for Tortoise Power and Energy Infrastructure Fund news (Ticker: TPZ), a resource for investors and traders seeking the latest updates and insights on Tortoise Power and Energy Infrastructure Fund stock.
Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) is a closed-ended fund that focuses on investing in a diverse portfolio of fixed income and equity securities issued by power and energy infrastructure companies. The primary objective of TPZ is to provide a high level of current income, while its secondary goal is capital appreciation. The fund is managed by Tortoise, a firm renowned for its specialization in essential assets and income.
Tortoise boasts a broad expertise that spans traditional energy investing across the entire energy value chain, sustainable infrastructure such as wind, solar, and water, as well as credit investing and direct lending to social infrastructure projects. Furthermore, Tortoise excels in index construction, offering a variety of investment vehicles tailored to meet the evolving needs of its clients. This includes diversification and income, making Tortoise a beneficial partner for investors seeking stable returns.
Among its latest news, Tortoise announced on March 8, 2024, the upcoming quarterly rebalancing of its indices, set to take effect on March 15, 2024. Changes will be implemented following their stated methodologies. Full constituent lists for each index from the previous quarter can be found on the Tortoise website.
Tortoise's indices, including the Tortoise MLP Index®, the Tortoise North American Pipeline IndexSM, and the Ecofin Global Water ESG IndexSM, are actively researched to fill gaps in the essential asset universe. These indices provide a platform for passively managed exchange-traded products, reflecting the company’s commitment to sustainable and reliable investment solutions.
For more information, please visit www.tortoiseadvisors.com.
The Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) announced a distribution payment slated for July 30, 2021. The current distribution is estimated at $0.0500 per common share. This distribution comprises net investment income, short-term capital gains, and a return of capital, with 43% from net investment income and 56% from return of capital. Cumulatively, for the fiscal year to date, distributions total $0.4000 per share. Investors are cautioned that a significant part of distributions may be a return of capital, impacting taxable income.
Tortoise Power and Energy Infrastructure Fund (TPZ) announced the distribution details for June 30, 2021. The current distribution per share is $0.0500, consisting of 43% net investment income, 57% return of capital, with no capital gains reported. Cumulative distributions for the fiscal year to date total $0.3500, sourced similarly. The annualized current distribution rate based on NAV is 3.82%. TPZ has distributed more than its income, indicating a potential return of capital. Actual amounts will be reported in Form 1099-DIV.
Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) announced the payment of distributions on April 30, 2021, amounting to $0.0500 per common share. The current distribution consists of 43% from net investment income and 57% from net realized short-term capital gains, totaling cumulative distributions for the fiscal year at $0.2500. The average annual total return for the last five years stands at 2.63%, while the annualized current distribution rate is 4.09% based on NAV as of March 31, 2021. Shareholders should note that distribution amounts may vary for tax reporting purposes.
Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) announced distributions paid on March 31, 2021, totaling $0.0500 per common share. The breakdown of this distribution consists of Net Investment Income ($0.0228), Net Realized Short-Term Capital Gains ($0.0272), with no contributions from long-term capital gains or return of capital. Cumulative distributions for the fiscal year-to-date amount to $0.2000. The fund reported an average annual total return of 4.42% over five years and a current distribution rate of 4.16% based on net asset value.
On February 26, 2021, Tortoise Pipeline & Energy Fund (TTP) and Tortoise Power and Energy Infrastructure Fund (TPZ) announced their distribution payments. The current distribution for TTP is $0.1600 per share, sourced entirely from net realized short-term capital gains. Cumulatively, TTP's distributions this fiscal year amount to $0.1600 per share. In comparison, TPZ reported a current distribution of $0.0500 per share, with a breakdown of 47% from net investment income and 53% from net realized short-term capital gains, totaling $0.1500 for this fiscal year.
This notice informs stockholders of Tortoise Power and Energy Infrastructure Fund (TPZ) about the distributions paid on January 29, 2021, and cumulative distributions for the fiscal year-to-date. The current distribution per common share is $0.0500, with 50% from net investment income and short-term capital gains. Cumulative distributions to date total $0.1000. The annualized current distribution rate is 4.46% of the NAV as of December 31, 2020. Actual amounts for tax reporting may vary.
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