Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc. Provide Section 19(a) Notice

Rhea-AI Summary

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.

Positive

• TTP's current distribution of $0.1600 reflects a total cumulative distribution for the fiscal year of $0.1600, indicating steady performance.
• TPZ's current distribution of $0.0500 per share is backed by both net investment income and short-term capital gains, indicating diversified income sources.

Negative

• TTP shows a negative average annual total return of -10.22% over the last five years.
• TPZ's cumulative total return of 9.02% for the fiscal year still reflects lower performance metrics compared to its historical averages.

LEAWOOD, KS / ACCESSWIRE / February 26, 2021 / This notice provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the distributions paid on February 26, 2021 and cumulative distributions paid fiscal year-to-date.

The following table sets forth the estimated amounts of the current distributions, payable February 26, 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 Pipeline & Energy 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			0.0000				0%				0.0000				0%
Net Realized Short-Term Capital Gains			0.1600				100%				0.1600				100%
Net Realized Long-Term Capital Gains			0.0000				0%				0.0000				0%
Return of Capital			0.0000				0%				0.0000				0%
Total (per common share)			0.1600				100%				0.1600				100%

Average annual total return (in relation to NAV) for the 5 years ending on 1/31/2021			-10.22%
Annualized current distribution rate expressed as a percentage of NAV as of 1/31/2021			2.88%
Cumulative total return (in relation to NAV) for the fiscal year through 1/31/2021			11.11%
Cumulative fiscal year distributions as a percentage of NAV as 1/31/2021			0.72%

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			0.0234				47%				0.0703				47%
Net Realized Short-Term Capital Gains			0.0266				53%				0.0797				53%
Net Realized Long-Term Capital Gains			0.0000				0%				0.0000				0%
Return of Capital			0.0000				0%				0.0000				0%
Total (per common share)			0.0500				100%				0.1500				100%

Average annual total return (in relation to NAV) for the 5 years ending on 1/31/2021			3.84%
Annualized current distribution rate expressed as a percentage of NAV as of 1/31/2021			4.27%
Cumulative total return (in relation to NAV) for the fiscal year through 1/31/2021			9.02%
Cumulative fiscal year distributions as a percentage of NAV as of 1/31/2021			1.07%

You should not draw any conclusions about TTP or TPZ's investment performance from the amount of this distribution or from the terms of TTP and 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 TTP and TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TTP and/or 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 Pipeline & Energy Fund, Inc. and 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

View source version on accesswire.com:
https://www.accesswire.com/632379/Tortoise-Pipeline-Energy-Fund-Inc-and-Tortoise-Power-and-Energy-Infrastructure-Fund-Inc-Provide-Section-19a-Notice

FAQ

What are the current distributions for TTP and TPZ as of February 26, 2021?

The current distribution for TTP is $0.1600 per share, while TPZ's is $0.0500 per share.

How much has TTP distributed in total for the fiscal year to date?

TTP has distributed a total of $0.1600 per share for the fiscal year to date.

What sources contributed to the distribution amount for TPZ?

TPZ's distribution sources include 47% from net investment income and 53% from net realized short-term capital gains.

What is the average annual total return for TPZ?

TPZ has an average annual total return of 3.84% over the last five years.