Welcome to our dedicated page for Tortoise Pipeline & Energy news (Ticker: TTP), a resource for investors and traders seeking the latest updates and insights on Tortoise Pipeline & Energy stock.
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Tortoise Pipeline & Energy Fund (NYSE:TTP) announced cumulative distributions for fiscal year-to-date on May 28, 2021. TTP reported a current distribution of $0.1600 per share, sourced entirely from net realized short-term capital gains. Year-to-date, total cumulative distributions amount to $0.3200 per share, again solely from short-term capital gains. The average annual total return for the last five years was -11.89%, with an annualized current distribution rate of 2.33% of NAV. Shareholders will receive a Form 1099-DIV for tax reporting purposes.
Tortoise's Board of Directors has announced the adjournment of the special stockholder meeting initially set for April 7, 2021, to June 4, 2021. This extension aims to allow more stockholders to vote on the proposed merger between TTP and NDP. CEO Brad Adams emphasized that the merger is deemed beneficial for shareholders, with early voting indicating majority support. Stockholders who haven't submitted a proxy are encouraged to do so, while information about the merger is available through the SEC and the company's website.
On February 26, 2021, Tortoise Pipeline & Energy Fund (TTP) and Tortoise Power and Energy Infrastructure Fund (TPZ) announced their distribution payments. The current distribution for TTP is $0.1600 per share, sourced entirely from net realized short-term capital gains. Cumulatively, TTP's distributions this fiscal year amount to $0.1600 per share. In comparison, TPZ reported a current distribution of $0.0500 per share, with a breakdown of 47% from net investment income and 53% from net realized short-term capital gains, totaling $0.1500 for this fiscal year.