Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc. Provide Section 19(a) Notice
Tortoise Pipeline & Energy Fund (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) have issued a Section 19(a) notice regarding their distributions paid on August 30, 2024. TTP's current distribution of $0.5900 per share comprises 17% from net investment income and 83% from return of capital. TPZ's current distribution of $0.1050 per share includes 20% from net investment income and 80% from return of capital.
Key performance metrics for TTP include a -0.56% five-year average annual total return and a 5.61% annualized current distribution rate. TPZ reports a 6.87% five-year average annual total return and a 6.84% annualized current distribution rate. Both funds have distributed more than their income and net realized capital gains, indicating that a portion of the distributions may be a return of capital.
Il Tortoise Pipeline & Energy Fund (NYSE:TTP) e il Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) hanno emesso un avviso ai sensi della Sezione 19(a) riguardo alle loro distribuzioni pagate il 30 agosto 2024. La distribuzione attuale di TTP è di $0.5900 per azione e comprende il 17% da reddito netto da investimenti e l'83% da rimborso di capitale. La distribuzione attuale di TPZ è di $0.1050 per azione e include il 20% da reddito netto da investimenti e l'80% da rimborso di capitale.
Le principali metriche di performance per TTP includono un -0.56% di ritorno totale medio annuale su cinque anni e un 5.61% di tasso di distribuzione annualizzato attuale. TPZ riporta un 6.87% di ritorno totale medio annuale su cinque anni e un 6.84% di tasso di distribuzione annualizzato attuale. Entrambi i fondi hanno distribuito più del loro reddito e dei guadagni di capitale realizzati netti, indicando che una parte delle distribuzioni può essere un rimborso di capitale.
El Tortoise Pipeline & Energy Fund (NYSE:TTP) y el Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) han emitido un aviso de la Sección 19(a) respecto a sus distribuciones pagadas el 30 de agosto de 2024. La distribución actual de TTP es de $0.5900 por acción y comprende el 17% de ingresos netos de inversiones y el 83% de retorno de capital. La distribución actual de TPZ es de $0.1050 por acción e incluye el 20% de ingresos netos de inversiones y el 80% de retorno de capital.
Las métricas clave de rendimiento para TTP incluyen un -0.56% de retorno total anual promedio a cinco años y un 5.61% de tasa de distribución anualizada actual. TPZ reporta un 6.87% de retorno total anual promedio a cinco años y un 6.84% de tasa de distribución anualizada actual. Ambos fondos han distribuido más que sus ingresos y ganancias de capital realizadas netas, lo que indica que una parte de las distribuciones puede ser un retorno de capital.
토르토이즈 파이프라인 에너지 펀드(NYSE:TTP)와 토르토이즈 전력 및 에너지 인프라 펀드(NYSE:TPZ)는 2024년 8월 30일에 지급된 분배에 대한 섹션 19(a) 통지를 발표했습니다. TTP의 현재 주당 분배 금액은 $0.5900으로, 17%는 순투자 수익금에서 발생하고 83%는 자본 환급에서 발생합니다. TPZ의 현재 주당 분배 금액은 $0.1050로, 20%는 순투자 수익금에서 발생하고 80%는 자본 환급에서 발생합니다.
TTP의 주요 성과 지표로는 -0.56%의 5년 평균 연간 총 수익률과 5.61%의 연환산 현재 분배율이 있습니다. TPZ는 6.87%의 5년 평균 연간 총 수익률과 6.84%의 연환산 현재 분배율을 보고합니다. 두 펀드 모두 소득과 순 실현 자본 이익보다 더 많은 분배를 하였으며, 이는 일부 분배가 자본 환급일 수 있음을 나타냅니다.
Le Tortoise Pipeline & Energy Fund (NYSE:TTP) et le Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) ont émis un avis en vertu de la section 19(a) concernant leurs distributions versées le 30 août 2024. La distribution actuelle de TTP est de $0.5900 par action, dont 17% provient des revenus nets d'investissement et 83% du retour de capital. La distribution actuelle de TPZ est de $0.1050 par action et comprend 20% des revenus nets d'investissement et 80% du retour de capital.
Les indicateurs clés de performance pour TTP comprennent un -0.56% de rendement total annuel moyen sur cinq ans et un 5.61% de taux de distribution annualisé actuel. TPZ rapporte un 6.87% de rendement total annuel moyen sur cinq ans et un 6.84% de taux de distribution annualisé actuel. Les deux fonds ont distribué plus de leurs revenus et des gains en capital réalisés nets, ce qui indique qu'une partie des distributions pourrait être un retour de capital.
Der Tortoise Pipeline & Energy Fund (NYSE:TTP) und der Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) haben eine Mitteilung gemäß Abschnitt 19(a) bezüglich ihrer am 30. August 2024 ausgeschütteten Verteilungen herausgegeben. Die aktuelle Ausschüttung von TTP beträgt $0.5900 pro Aktie und besteht zu 17% aus Nettoinvestitionseinkommen und zu 83% aus Kapitalrückzahlung. Die aktuelle Ausschüttung von TPZ beträgt $0.1050 pro Aktie und umfasst 20% aus Nettoinvestitionseinkommen und 80% aus Kapitalrückzahlung.
Die wichtigsten Leistungskennzahlen für TTP umfassen eine -0.56% fünfjährige durchschnittliche jährliche Gesamtrendite und eine 5.61% annualisierte aktuelle Ausschüttungsquote. TPZ berichtet eine 6.87% fünfjährige durchschnittliche jährliche Gesamtrendite und eine 6.84% annualisierte aktuelle Ausschüttungsquote. Beide Fonds haben mehr als ihr Einkommen und die realisierten Nettokapitalgewinne ausgeschüttet, was darauf hindeutet, dass ein Teil der Ausschüttungen eine Kapitalrückzahlung sein könnte.
- TTP's cumulative total return for the fiscal year through July 31, 2024, is 26.09%
- TPZ's cumulative total return for the fiscal year through July 31, 2024, is 19.86%
- TPZ's five-year average annual total return is positive at 6.87%
- TTP's five-year average annual total return is negative at -0.56%
- Both funds are distributing more than their income and net realized capital gains, potentially eroding investor capital
- A significant portion of both funds' distributions (83% for TTP and 80% for TPZ) is classified as return of capital, which may not reflect true investment performance
Insights
This Section 19(a) notice provides important information about the distribution sources for TTP and TPZ funds. For TTP, 83% of the current distribution is classified as return of capital, which is concerning as it suggests the fund is paying out more than its earnings. The fund's
The high proportion of return of capital in these distributions has significant tax implications. For TTP,
OVERLAND PARK, KS / ACCESSWIRE / August 30, 2024 / This required notice under Section 19(a) of the Investment Company Act of 1940 provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the sources of the distributions paid on Aug. 30, 2024, and cumulative distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distributions, payable Aug. 30, 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.
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You should not draw any conclusions about TTP's or TPZ's investment performance from the amount of this distribution or from the terms of TTP's and TPZ's distribution policies.
TTP and TPZ estimate that they have distributed more than their 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 TTP and/or TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP's and/or 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 TTP's and TPZ's investment experience during the remainder of their fiscal years 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.tortoiseadvisors.com.
About Tortoise Capital
With approximately
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
View the original press release on accesswire.com
FAQ
What is the current distribution amount for Tortoise Pipeline & Energy Fund (TTP) as of August 30, 2024?
What is the annualized current distribution rate for Tortoise Power and Energy Infrastructure Fund (TPZ) as of July 31, 2024?
What percentage of TTP's current distribution is classified as return of capital?
What is the five-year average annual total return for Tortoise Pipeline & Energy Fund (TTP) as of July 31, 2024?
