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Tortoise Power and Energy Infrastructure (TPZ) provides essential investment solutions bridging traditional energy infrastructure and sustainable development. This news hub offers investors and stakeholders timely updates on the company's strategic initiatives across energy markets and decarbonization projects.
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Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) has provided a Section 19(a) notice for its distribution paid on July 31, 2024. The current distribution of $0.1050 per share is comprised of 21% net investment income and 79% return of capital. For the fiscal year to date, the total cumulative distribution of $0.8400 per share consists of 24% net investment income and 76% return of capital.
The fund's average annual total return for the 5 years ending June 30, 2024, is 6.17%. The annualized current distribution rate is 6.95% of NAV. TPZ's cumulative total return for the fiscal year through June 30, 2024, is 17.10%, with cumulative fiscal year distributions at 4.64% of NAV.
Investors are cautioned that a portion of the distribution may be a return of capital and should not be confused with yield or income. The actual amounts for tax reporting purposes will be provided in Form 1099-DIV.
Tortoise has announced significant changes to two of its indices due to a corporate action. Equitrans Midstream Corp (NYSE:ETRN) will be removed from both the Tortoise North American Pipeline Index (TNAP) and the Tortoise Decarbonization Infrastructure Index (DCRBN) following its approved acquisition by EQT Corp (NYSE:EQT). The removal will take effect at market open on Monday, July 22, 2024.
For the TNAP, a special rebalance will be conducted to accommodate ETRN's removal. In contrast, the DCRBN will not require a special rebalancing; instead, ETRN's weight will be distributed proportionally among the remaining index constituents.
Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) has announced a monthly distribution of $0.105 per share for July 2024. Shareholders on record by July 24, 2024, will receive the payout on July 31, 2024. It's important to note that a portion of this distribution may be a return of capital, indicating a repayment of part of the money invested rather than income or yield. This should not be taken as a direct indicator of the fund's performance. Further details will be available in the Section 19(a) Notice at the time of payment. For tax reporting, TPZ will provide a Form 1099-DIV for the calendar year. Investors are advised to check the fund's website for more information.
Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) announced its June 28, 2024 distribution, detailing the sources and cumulative distributions for the fiscal year. The distribution per common share was $0.1050, comprising 21% from net investment income and 79% from return of capital. For the fiscal year to date, the total distribution was $0.7350 per share, with 25% from net investment income and 75% from return of capital. The fund's average annual total return over the past five years is 5.94%, with an annualized current distribution rate of 7.10% as of May 31, 2024. TPZ cautions that distributions should not be viewed as an indicator of investment performance, as a portion may be a return of capital. Distribution sources reported are estimates and not for tax purposes; official figures will be provided via Form 1099-DIV.
Tortoise (NYSE:TPZ) announced its quarterly index rebalancing for Q2 2024. Effective post-trading on June 21, 2024, no changes will occur in the Tortoise MLP Index (TMLP) and Tortoise North American Pipeline Index (TNAP). However, the Ecofin Global Water ESG Index (EGWESG) will add Guangdong Investment (270 HK) while the Tortoise Decarbonization Infrastructure Index (DCRBN) will remove Stem Inc (STEM US) and EVgo Inc (EVGO US). These adjustments align with the indices' stated methodologies.
Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) has announced a monthly distribution of $0.105 per share for June 2024. This payment will be made on June 28, 2024, to shareholders recorded on June 21, 2024.
It is important to note that this distribution may include a return of capital, which means a portion of the payment may come from the original investment rather than the fund's earnings. This should not be confused with income or yield.
The actual source and amount for tax purposes will be reported later, and TPZ will provide a Form 1099-DIV for federal tax reporting. Additional information is available on their website.
On May 31, 2024, Tortoise Pipeline & Energy Fund (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) issued a Section 19(a) notice regarding their distributions. TTP's current distribution is $0.5900 per share, primarily consisting of a 67% return of capital. Cumulative distributions for the fiscal year total $1.1800 per share, with an 80% return of capital. TPZ's current distribution is $0.1050 per share, with a 69% return of capital. Cumulative distributions for TPZ are $0.6300 per share, with a 75% return of capital.
The funds have distributed more than their income and capital gains, indicating that a portion of the distribution is a return of capital. This should not be confused with yield or income, and actual amounts may differ for tax reporting purposes.
For the 5-year period ending April 30, 2024, TTP had an average annual total return of -3.77%, while TPZ had a 5.08% return. Current distribution rates, as of April 30, 2024, were 6.81% for TTP and 7.22% for TPZ.
Tortoise announced a revision to the corporate action treatment for the Tortoise North American Pipeline Index (TNAP), with NuStar Energy LP being removed due to an approved acquisition by Sunoco LP. Special rebalancings will occur in the Tortoise MLP Index (TMLP) and the TNAP as a result of these changes.
Tortoise Power and Energy Infrastructure Fund, Inc. provided a Section 19(a) notice regarding the distribution paid on April 30, 2024, and cumulative distribution for the fiscal year-to-date. The distribution breakdown includes net investment income, net realized short-term and long-term capital gains, and return of capital. The total distribution per common share is $0.1050, with a significant portion being a return of capital. The fund's annual total return, distribution rate, and cumulative return percentages are also provided. Investors should note that the distribution may include a return of capital, which does not reflect investment performance.
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