Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice
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.
- Current distribution of $0.0500 per share reflects a sustainable income source.
- Cumulative distributions for the fiscal year to date are $0.2500 per share.
- Strong reliance on net realized short-term capital gains for the current distribution, enhancing income stability.
- Average annual total return over the last five years is 2.63%, indicating a stable performance trend.
- No net realized long-term capital gains reported, indicating a potential lack of long-term investment performance.
- Return of capital is $0.0000, which may raise concerns regarding future distributions.
LEAWOOD, KS / ACCESSWIRE / April 30, 2021 / This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the distributions paid on April 30, 2021 and cumulative distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distributions, payable April 30, 2021 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.
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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.
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.
Contact Information
For more information contact Maggie Zastrow at (913) 981-1020 or info@tortoiseecofin.com.
SOURCE: Tortoise
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https://www.accesswire.com/643045/Tortoise-Power-and-Energy-Infrastructure-Fund-Inc-Provides-Section-19a-Notice
FAQ
What is the current distribution amount for Tortoise Power and Energy Infrastructure Fund (TPZ) announced on April 30, 2021?
What percentages contribute to the current distribution of TPZ?
What are the cumulative distributions paid by TPZ for the fiscal year to date?
What is the average annual total return for TPZ over the last five years?
What is the annualized current distribution rate of TPZ as of March 31, 2021?
