Welcome to our dedicated page for NXG NextGen news (Ticker: NXG), a resource for investors and traders seeking the latest updates and insights on NXG NextGen stock.
NXG NextGen Infrastructure Income Fund (NYSE: NXG) is a closed-end management investment company focused on generating high total return with an emphasis on current income from equity and debt securities of infrastructure companies. This news page aggregates announcements and disclosures related to the Fund’s operations, capital-raising activities, and distribution policies, giving investors a centralized view of developments affecting NXG’s listed common shares of beneficial interest.
News for NXG commonly includes monthly distribution declarations, where the Fund specifies per-share distribution amounts and preliminary estimates of the portion treated as return of capital. These updates also explain that the final tax status of each distribution is determined after the end of the calendar year, and that future distributions depend on factors such as net investment income, financial performance, available cash, and compliance with leverage-related covenants.
In addition to distribution announcements, NXG’s news flow features information on transferable rights offerings, including the terms of rights issued to existing common shareholders, subscription prices based on percentages of net asset value or market price, and whether offerings were oversubscribed. The Fund also issues press releases about its at-the-market offering program, under which it may offer and sell additional common shares through a distribution agreement in transactions deemed to be at-the-market offerings under Rule 415 of the Securities Act of 1933.
Investors following NXG’s news can track how the Fund manages its capital structure through rights offerings and at-the-market offerings, how it applies its infrastructure-focused investment mandate, and how its Board of Trustees approaches the declaration and adjustment of monthly distributions. Regularly reviewing these updates can help market participants understand the Fund’s current income emphasis, use of leverage, and responses to market conditions within its infrastructure investment universe.
The board of trustees of NXG NextGen Infrastructure Income Fund (NYSE: NXG) has approved the terms of a rights offering, allowing common shareholders as of June 20, 2024, to subscribe to new common shares. Shareholders will receive one right per share held, with the ability to purchase one new share for every three rights. The subscription period will end on July 17, 2024, and the subscription price will be based on a formula of 92.5% of the average sales price or 86% of net asset value, whichever is lower. The rights are transferable and will trade on the NYSE under 'NXG RT'. The offering aims to increase the fund's investment assets, taking advantage of new opportunities. Additionally, the July distribution record date has been moved to July 8, 2024, with a payout of $0.54 per share scheduled for July 31, 2024.
NXT NextGen Infrastructure Income Fund (NYSE: NXG) has announced monthly distributions of $0.54 per common share for June, July, and August 2024, payable on June 28, July 31, and August 30 respectively. These distributions are anticipated to be treated entirely as a return of capital. The final tax status will be determined in 2025. The fund, aimed at high total returns with a focus on current income, invests at least 80% of its net assets in equity and debt securities of infrastructure companies. to 25% in energy master partnerships, the fund's shares trade under the symbol 'NXG' on NYSE. Note that the Fund's distributions, market value, and net asset value (NAV) may fluctuate, and future distributions are not guaranteed.
The NXG NextGen Infrastructure Fund (NYSE: NXG) announced an increase in its monthly distribution to $0.27 per common share for February to May 2023, up from $0.2132 in January 2023, reflecting a 26.64% increase. This distribution corresponds to an annualized distribution rate of approximately 6.07% of the Fund's net asset value as of January 31, 2023. Additionally, the Fund's Board of Trustees has appointed John H. Alban as a trustee following Jerry V. Swank's resignation. The Fund emphasizes that the increased distributions aim to provide shareholder liquidity and flexibility, despite potential variations in net investment income over time.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) and NXG NextGen Infrastructure Income Fund (NYSE: NXG) announced leadership changes effective November 30, 2022. John H. Alban retired as CEO, with Mark Rhodes, previously of Focal Point Consulting, Bank of America Merrill Lynch, and J.P. Morgan, succeeding him. The Board of Trustees expressed gratitude for Alban's service. The press release includes disclaimers about investment risks and the nature of closed-end funds, emphasizing fluctuations in net asset value and potential discounts on market value.
The NXG NextGen Infrastructure Income Fund (NYSE: NXG) announced a monthly distribution of $0.2132 per common share for December 2022 and January 2023. Key dates include record dates of 12/13/2022 and 01/18/2023, with payment dates on 12/30/2022 and 01/31/2023. Approximately 88% of the distributions are estimated as a return of capital. The Fund, focused on infrastructure investments, emphasizes current income with at least 80% of net assets in equity and debt securities of infrastructure companies.
FAQ
What is the current stock price of NXG NextGen (NXG)?
What is the market cap of NXG NextGen (NXG)?
