Tortoise Capital Announces Closed-End Fund Distributions Including Increases for TYG and NTG
Distribution Amounts and Dates Declared for:
Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF)
While the distribution target range for
Fund |
Ticker |
Distribution Amount |
% Increase |
Distribution |
Distribution Frequency |
|
TYG |
|
10 % |
7%-10% |
Quarterly |
|
NTG |
|
5 % |
7%-10% |
Quarterly |
|
TTP |
|
- |
7%-10% |
Quarterly |
|
NDP |
|
- |
7%-10% |
Quarterly |
|
TPZ |
|
- |
7%-10% |
Monthly |
Ecofin Sustainable and Social Impact Term Fund |
TEAF |
|
- |
6%-8% |
Monthly |
TYG, NTG, TTP, NDP and TPZ distributions are payable on
For book purposes, the source of distributions for each of TYG and NTG is estimated to be 0-20% ordinary income with the remainder as return of capital, and NDP is estimated to be approximately 20-30% ordinary income, with the remainder as return of capital. For TEAF, the source of distributions is estimated to be approximately 40 to 50% ordinary income, with the remainder as return of capital. For tax purposes, the characterization will not be made until determination of earnings and profits after year end.
Investors should not draw any conclusions about TTP's or TPZ's investment performance from the amount of these distributions or from the terms of TTP's or TPZ's distribution policy.
TTP and TPZ estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of the distribution may be return of capital. A return of capital may occur, for example, when some or all of the money invested in TTP and TPZ is paid back to the investor. A return of capital distribution does not necessarily reflect TTP's and TPZ's investment performance and should not be confused with "yield" or "income."
TTP and TPZ will report the sources for their distributions at the time of the payment in the applicable Section 19(a) Notice. The amounts and sources of distributions TTP and TPZ report 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.
About Tortoise Capital
With approximately
For additional information on these funds, please visit cef.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
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