TortoiseEcofin Announces 2021 Closed-End Fund Tax Characterization of Distributions and Release of Combined Annual Report

$NDP
$NTG
$TPZ
$TTP
Finance/Investors Services
Finance
Finance Companies
Finance
Get the next $NDP alert in real time by email

Tortoise Energy Infrastructure Corp. (NYSE:TYG)

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)

Tortoise Energy Independence Fund, Inc. (NYSE:NDP)

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

TortoiseEcofin today announced the tax characterization of 2021 distributions paid to common stockholders of each of the funds listed below:

2021 Tax Characterization of Distributions

 

TYG

 

NTG

 

TTP

 

NDP

 

TPZ

Qualified Dividend Income

100%

 

100%

 

0%

 

8%

 

16%

Ordinary Dividend Income

0%

 

0%

 

0%

 

0%

 

29%

Return of Capital

0%

 

0%

 

100%

 

92%

 

55%

Long-Term Capital Gain

0%

 

0%

 

0%

 

0%

 

0%

Additional information regarding the tax characterization of the 2021 distributions is available at www.TortoiseEcofin.com.

A copy of the information is also available upon request by calling (866) 362-9331.

Nothing contained herein or therein should be construed as tax advice. Consult your tax advisor for more information. Furthermore, you may not rely upon any information herein or therein for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code.

Annual Report

The adviser also announced today the release of the combined 2021 annual stockholders' report including all of these funds. The annual report is available online at cef.tortoiseecofin.com. Please call (866) 362-9331 or email info@tortoiseecofin.com to request a hard copy of this report free of charge.

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. For additional information, please visit www.TortoiseEcofin.com.

Tortoise Capital Advisors, L.L.C. is the Adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., and Tortoise Power and Energy Infrastructure Fund, Inc.

For additional information on these funds, please visit cef.tortoiseecofin.com.

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.

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.

Get the next $NDP alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$NDP
$NTG
$TPZ
$TTP

CompanyDatePrice TargetRatingAnalyst
3/2/2022$22.50 → $25.00Outperform
RBC Capital
More analyst ratings

$NDP
$NTG
$TPZ
$TTP
Press Releases

Fastest customizable press release news feed in the world

See more
  • Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of December 31, 2024, for TYG and TEAF

    OVERLAND PARK, KS / ACCESSWIRE / January 2, 2025 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG and TEAF.Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of Dec. 31, 2024, the company's unaudited total assets were approximately $992.7 million and its unaudited net asset value was $800.6 million, or $46.45 per share.As of Dec. 31, 2024, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 716%, and its coverage ratio for preferred shares was 540%. For more information on the company's coverage ratios, please ref

    $TEAF
    $TYG
    Trusts Except Educational Religious and Charitable
    Finance
    Investment Managers
  • Tortoise Capital Completes Merger of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ), Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP), and Tortoise Energy Independence Fund, Inc. (NYSE: NDP) and Conversion to Actively Managed ETF

    OVERLAND PARK, KS / ACCESSWIRE / December 23, 2024 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced the completion of a strategic merger of three closed-end funds and conversion to an actively managed exchanged-traded fund (ETF).Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ), Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP), and Tortoise Energy Independence Fund, Inc. (NYSE:NDP) have merged into a newly formed ETF, with TPZ emerging as the surviving strategy.The Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) is adopting the accounting and performance history of the closed-end fund, offering continuit

    $NDP
    $TEAF
    $TPZ
    $TTP
    Finance/Investors Services
    Finance
    Trusts Except Educational Religious and Charitable
    Investment Managers
  • Tortoise Capital Completes Merger of Tortoise Energy Infrastructure Corp. (NYSE: TYG) and Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)

    OVERLAND PARK, KS / ACCESSWIRE / December 23, 2024 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced the completion of a strategic merger between Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) and Tortoise Energy Infrastructure Corp. (NYSE:TYG) with TYG emerging as the continuing fund. As of Dec. 20, 2024, the combined total assets under management (AUM) of TYG was $1.0 billion.TYG will maintain its original investment strategy and objective, becoming Tortoise Capital's flagship closed-end fund solution for investors seeking exposure to energy in the closed-end fund structure. TYG provides investors with exposure to energy in

    $NTG
    $TEAF
    $TYG
    Finance Companies
    Finance
    Trusts Except Educational Religious and Charitable
    Investment Managers

$NDP
$NTG
$TPZ
$TTP
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$NDP
$NTG
$TPZ
$TTP
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$NDP
$NTG
$TPZ
$TTP
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$NDP
$NTG
$TPZ
$TTP
Leadership Updates

Live Leadership Updates

See more
  • TortoiseEcofin Appoints New Principal Financial Officer and Treasurer for its Closed-End Funds

    Tortoise Energy Infrastructure Corp. (NYSE:TYG) Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) TortoiseEcofin today announced the appointment of Courtney Gengler, CPA as Principal Financial Officer and Treasurer for its closed-end funds effective July 14, 2021. This change will allow Brad Adams, recently serving in this role, to focus entirely on his responsibilities as CEO for the closed-end funds and pass the primary responsibility for financial filings and the re

    $TYG
    $TPZ
    $NTG
    $TEAF
    Investment Managers
    Finance
    Finance Companies
    Trusts Except Educational Religious and Charitable

$NDP
$NTG
$TPZ
$TTP
Financials

Live finance-specific insights

See more
  • Tortoise Capital Advisors Plans Merger of Three Closed-End Funds into Active ETF

    Actively Managed ETF Aims to Offer Investors Greater Liquidity at Net Asset Value OVERLAND PARK, KS / ACCESSWIRE / August 6, 2024 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on traditional energy and power infrastructure investing, today announced its plans to merge three of its closed-end funds into a newly formed actively managed exchange-traded fund (ETF), Tortoise Power and Energy Infrastructure ETF.The three similar funds merging into an active ETF are Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ), Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP), and Tortoise Energy Independence Fund, Inc. (NYSE:NDP), with TPZ as the surviving strateg

    $NDP
    $TPZ
    $TTP
    Finance/Investors Services
    Finance
    Investment Managers
    Trusts Except Educational Religious and Charitable
  • Tortoise Capital Advisors Plans Merger of Three Closed-End Funds into Active ETF

    Actively Managed ETF Aims to Offer Investors Greater Liquidity at Net Asset Value  OVERLAND PARK, Kan., Aug. 6, 2024 /PRNewswire/ -- Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on traditional energy and power infrastructure investing, today announced its plans to merge three of its closed-end funds into a newly formed actively managed exchange-traded fund (ETF), Tortoise Power and Energy Infrastructure ETF. The three similar funds merging into an active ETF are Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ), Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP), and Tortoise Energy Independence Fund, Inc. (NYSE:NDP), with TPZ as the surviving str

    $NDP
    $TPZ
    $TTP
    Finance/Investors Services
    Finance
    Investment Managers
    Trusts Except Educational Religious and Charitable
  • Tortoise Energy Infrastructure Total Return Fund (TORIX/TORTX/TORCX) Announces Quarterly Distribution Increase

    OVERLAND PARK, KS / ACCESSWIRE / February 27, 2024 / Tortoise Energy Infrastructure Total Return Fund (NASDAQ:TORIX) announced a quarterly distribution of $0.1980 per share, which is a notable increase quarter-over-quarter.Within the energy infrastructure sector, the trend of free cash flow increasingly directed towards share buybacks and improved current yield has continued. As a result, we are passing along the value from higher distribution growth to our shareholders.We now have greater conviction in potential 5-7% sector growth over the medium-term. "Based on longer-dated guidance and disciplined capital return policies, energy infrastructure management teams are increasingly confident i

    $TPZ
    Investment Managers
    Finance

$NDP
$NTG
$TPZ
$TTP
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more