Welcome to our dedicated page for Tortoise Sustainable and Social Impact news (Ticker: TEAF), a resource for investors and traders seeking the latest updates and insights on Tortoise Sustainable and Social Impact stock.
This page provides a historical news archive for Tortoise Sustainable and Social Impact Term Fund (NYSE: TEAF), a closed-end fund that was advised by Tortoise Capital Advisors, L.L.C. and later merged into Tortoise Energy Infrastructure Corp. (NYSE: TYG). The coverage reflects TEAF’s role within the Tortoise closed-end fund platform and documents the key steps that led to its combination with TYG.
News items for TEAF include regular announcements of closed-end fund distributions issued by Tortoise Capital, where TEAF and TYG distribution amounts and payment dates were disclosed together. These releases also described the estimated tax character of distributions for book purposes, such as the portion treated as ordinary income and the portion treated as return of capital.
Another major category of news consists of periodic unaudited balance sheet and asset coverage ratio updates for TEAF and TYG. These updates summarized total assets, net assets, net asset value per share, margin loan facility borrowings for TEAF, and asset coverage ratios under the Investment Company Act of 1940 with respect to senior securities representing indebtedness. Company communications also pointed readers to fund web pages for details on top holdings and direct investments.
The archive further captures governance and corporate actions, including the announcement of shareholder approval of the merger of TEAF into TYG and the subsequent completion of that merger with TYG as the continuing fund. Follow-on releases discussed how the combined fund’s scale and distribution policy were affected by the transaction. By reviewing this TEAF news stream, investors can trace the fund’s evolution, its financial reporting practices, and the steps that led to its integration into TYG.
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Ecofin Sustainable and Social Impact Term Fund (TEAF) has announced its monthly distribution of $0.09 per share, aligning with its managed distribution target of 6-8% of the Fund's trailing average NAV. The upcoming distribution dates are March 31, 2023, April 28, 2023, and May 31, 2023, with record dates on March 24, April 21, and May 24 respectively. For accounting purposes, approximately 40-60% of the distributions are estimated to be from ordinary income, with the remainder classified as return of capital. Tax characterization will be determined after the year-end. For further details, please visit the fund's page.
Ecofin Sustainable and Social Impact Term Fund (TEAF) has announced the tax characterization of its 2022 distributions to common stockholders. The distributions were classified as 35% qualified dividend income, 9% ordinary income, and 56% return of capital. Additionally, TEAF released its 2022 annual stockholders' report, accessible online or by request. The fund's adviser, TCA Advisors, emphasizes that the press release does not act as an offer to sell or buy securities. It also contains forward-looking statements that involve risks and uncertainties, which may not reflect actual results.
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Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) has released its unaudited balance sheet information as of January 31, 2023. The total assets stand at approximately $250.8 million with a net asset value of $219.9 million, equating to $16.30 per share. TEAF reports a strong asset coverage ratio of 826% regarding senior securities representing indebtedness. The fund has 13.49 million common shares outstanding. The company encourages investors to check their website for updates on direct investments and impact statistics. TEAF is advised by TCA Advisors and sub-advised by Ecofin Advisors Limited.
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Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) released its preliminary unaudited balance sheet as of December 30, 2022, showing total assets of approximately $246.4 million and a net asset value of $215.7 million, equivalent to $15.99 per share. The asset coverage ratio regarding senior securities was notably high at 831%. The fund reported 13.49 million common shares outstanding. Updates on direct investments and quarterly commentary on fund performance are available on the company website.
Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) released preliminary unaudited balance sheet information as of November 30, 2022. The total assets were approximately $251.8 million, with a net asset value of $221.5 million or $16.42 per share. The fund's asset coverage ratio was an impressive 850% concerning senior securities representing indebtedness. The fund has 13.49 million common shares outstanding, with significant investments listed, the largest being $248.6 million in investments.
Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) has announced a monthly distribution of $0.09 per share. The upcoming distribution dates are December 30, 2022, January 31, 2023, and February 28, 2023, with record dates set for December 23, January 24, and February 21 respectively.
Approximately 40 to 60% of the distributions are expected to be from ordinary income, while the remainder will be a return of capital. A final characterization will be communicated in January 2023, along with a form 1099-DIV.
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