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

Rhea-AI Summary

The Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) announced a distribution of $0.0600 per common share payable on September 30, 2021. This total includes $0.0221 from net investment income (37%), $0.0000 from net realized short-term capital gains (0%), $0.0067 from net realized long-term capital gains (11%), and a significant return of capital of $0.0312 (52%). The cumulative distribution for the fiscal year to date is $0.5200, which includes a 4.68% annualized current distribution rate based on NAV as of August 31, 2021.

Positive

• Current distribution of $0.0600 per share indicates active returns to shareholders.
• Cumulative distributions for the fiscal year to date are $0.5200, reflecting ongoing income generation.

Negative

• A significant portion (52%) of the distribution is a return of capital, which may signal reliance on shareholder investments rather than income generation.
• The average annual total return over 5 years is negative at -0.58%, suggesting poor long-term performance.

LEAWOOD, KS--(BUSINESS WIRE)-- This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding the distribution paid on September 30, 2021 and cumulative distribution paid fiscal year-to-date.

The following table sets forth the estimated amounts of the current distribution, payable September 30, 2021 and the cumulative distribution 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		0.0221		37%		0.1975		38%
Net Realized Short-Term Capital Gains		0.0000		0%		0.2530		49%
Net Realized Long-Term Capital Gains		0.0067		11%		0.0067		1%
Return of Capital		0.0312		52%		0.0628		12%
Total (per common share)		0.0600		100%		0.5200		100%

Average annual total return (in relation to NAV) for the 5 years ending on 8/31/2021		-0.58%
Annualized current distribution rate expressed as a percentage of NAV as of 8/31/2021		4.68%
Cumulative total return (in relation to NAV) for the fiscal year through 8/31/2021		22.63%
Cumulative fiscal year distributions as a percentage of NAV as of 8/31/2021		3.38%

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 its fiscal year 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 these funds, please visit cef.tortoiseecofin.com.

About Tortoise

Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseEcofin.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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210930005781/en/

Maggie Zastrow, (913) 981-1020

info@tortoiseecofin.com

Source: Tortoise Power and Energy Infrastructure Fund, Inc.

FAQ

What is the recent distribution for Tortoise Power and Energy Infrastructure Fund (TPZ)?

The recent distribution for TPZ is $0.0600 per common share, payable on September 30, 2021.

What percentage of TPZ's distribution is a return of capital?

52% of TPZ's distribution is a return of capital.

How much has TPZ distributed for the fiscal year to date?

TPZ has distributed a total of $0.5200 for the fiscal year to date.

What is the average annual total return for TPZ over the last 5 years?

The average annual total return for TPZ over the last 5 years is -0.58%.

What is TPZ's annualized current distribution rate as of August 31, 2021?

TPZ's annualized current distribution rate is 4.68% as of August 31, 2021.