The Cushing NextGen Infrastructure Income Fund (NYSE: SZC) will officially change its name to NXG NextGen Infrastructure Income Fund on November 1, 2022. Concurrently, the NYSE ticker symbol will shift from 'SZC' to 'NXG.' The Fund’s investment adviser, portfolio management team, and investment objectives will remain unchanged. Cushing Asset Management, based in Dallas, Texas, oversees the Fund, focusing on providing long-term growth through investments in sustainable and traditional infrastructure companies.
The Cushing NextGen Infrastructure Income Fund (SZC) announced monthly distributions of $0.2132 per share for September, October, and November 2022. The distribution dates are set, with record dates on September 19, 2022, October 17, 2022, and November 15, 2022. Approximately 88% of these distributions are estimated to be a return of capital. Future distributions depend on the Fund's financial performance and Board decisions. The Fund invests at least 80% of its net assets in infrastructure-related securities, aiming for high total returns and current income.
The Cushing NextGen Infrastructure Income Fund (SZC) announced monthly distributions of $0.2132 per common share for June, July, and August 2022. The record dates for these distributions are June 14, July 18, and August 16, with payment dates on June 30, July 29, and August 31, respectively. Approximately 72% of the distributions are estimated to be returns of capital. The Fund invests primarily in infrastructure-related securities, targeting a high total return with an emphasis on current income. The Fund's future distributions are not guaranteed and depend on multiple factors.
The Cushing NextGen Infrastructure Income Fund (SZC) announced a monthly distribution of $0.2132 per common share for February through May 2022. Key dates include record dates on February 15, March 15, April 18, and May 16, with payment dates set for February 28, March 31, April 29, and May 31, respectively. Approximately 94% of these distributions are anticipated to be treated as a return of capital. Additionally, the Fund's Board of Trustees has approved a continuation of management fee waivers for the next year, amounting to 0.25% of Managed Assets.
The Cushing MLP & Infrastructure Total Return Fund (SRV) and Cushing NextGen Infrastructure Income Fund (SZC) announced the upcoming retirement of portfolio manager Jerry V. Swank, effective December 31, 2021. He will be succeeded by John H. Alban, currently the CFO and Treasurer of the Funds. Blake Nelson will take over Alban's role as CFO. Swank will remain involved as an Interested Trustee. The transition aims to ensure continued strong investment performance under the new leadership.
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The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) and Cushing NextGen Infrastructure Income Fund (NYSE: SZC) announced the resignation of trustee Brenda A. Cline, effective immediately. Andrea N. Mullins has been appointed to fill the vacancy for the remainder of Cline's term. Mullins will serve as a Class II trustee and will also be part of the Nominating and Corporate Governance Committee and Chair of the Audit Committee. Her experience includes senior financial roles and oversight of strategic growth plans.
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The Cushing NextGen Infrastructure Income Fund has declared monthly distributions of $0.2132 per common share for February, March, and April 2021. Each distribution is expected to be approximately 86% a return of capital. The fund’s Board of Trustees also approved a continuation of a 0.25% management fee waiver for the next year. The fund focuses on achieving a high total return, investing at least 80% of its net assets in infrastructure sector securities. It's important to note that future distributions are not guaranteed.