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.
On July 1, 2024, Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) provided an update on its unaudited balance sheet and asset coverage ratio as of June 28, 2024. The company's total assets were approximately $226.6 million, with a net asset value (NAV) of $196.9 million or $14.59 per share. TEAF's asset coverage ratio was 786%. Key balance sheet figures included $224.5 million in investments, $0.3 million in cash and equivalents, and $1.8 million in other assets. The fund had $28.7 million in credit facility borrowings and $1.0 million in other liabilities. There are 13.49 million common shares outstanding. Additional details on TEAF's top 10 holdings and monthly updates on direct investments are available on their website.
Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) has released unaudited balance sheet information as of May 31, 2024. The fund reported total assets of approximately $221.8 million and a net asset value (NAV) of $200.2 million, translating to $14.84 per share. The asset coverage ratio under the 1940 Act for senior securities representing indebtedness was noted at 1,058%. Key figures include $219.4 million in investments, $0.5 million in cash and cash equivalents, and $1.9 million in other assets. The fund has $20.9 million in credit facility borrowings and $0.7 million in other liabilities, with 13.49 million common shares outstanding.
TEAF also provides regular updates on direct investments via its website, with monthly summaries of private deals. TCA Advisors acts as the fund adviser, with Ecofin Advisors as the sub-adviser.
Ecofin Sustainable and Social Impact Term Fund (TEAF) announced its monthly distribution of $0.09 per share falling within the managed distribution target range of 6-8% of the Fund's trailing average NAV. The distributions are payable on June 28, 2024, July 31, 2024, and August 30, 2024, with estimated sources of approximately 40 to 50% ordinary income. For more information, visit their website.
Ecofin has released its quarterly commentary piece for the Ecofin Tax-Advantaged Social Impact Fund (NASDAQ: TSIFX), showcasing deal transactions and providing a market update and outlook.
TEAF's unaudited balance sheet information as of April 30, 2024, reveals total assets of around $205.8 million and net asset value of $194.3 million, or $14.40 per share, with an asset coverage ratio of 1,850%. The company also updated its top 10 holdings and provided details on direct investments.
FAQ
What is the current stock price of Tortoise Sustainable and Social Impact (TEAF)?
What is the market cap of Tortoise Sustainable and Social Impact (TEAF)?
