Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc. Provide Section 19(a) Notice
Tortoise Pipeline & Energy Fund (TTP) and Tortoise Power and Energy Infrastructure Fund (TPZ) have announced their Section 19(a) distributions for November 29, 2024. TTP distributed $0.59 per share, with 16% from net investment income and 84% from return of capital. TPZ distributed $0.105 per share, with 24% from net investment income and 76% from return of capital.
TTP reported a five-year average annual return of 3.30% and a fiscal year-to-date return of 39.34%. TPZ showed stronger performance with a five-year average annual return of 9.12% and a fiscal year-to-date return of 26.76%. Both funds indicate they have distributed more than their income and net realized capital gains.
Il Tortoise Pipeline & Energy Fund (TTP) e il Tortoise Power and Energy Infrastructure Fund (TPZ) hanno annunciato le loro distribuzioni ai sensi della Sezione 19(a) per il 29 novembre 2024. TTP ha distribuito $0,59 per azione, con il 16% proveniente da reddito netto da investimenti e l'84% da restituzione di capitale. TPZ ha distribuito $0,105 per azione, con il 24% proveniente da reddito netto da investimenti e il 76% da restituzione di capitale.
TTP ha riportato un rendimento annuale medio di cinque anni del 3,30% e un rendimento dall'inizio dell'anno fiscale del 39,34%. TPZ ha mostrato una performance migliore con un rendimento annuale medio di cinque anni del 9,12% e un rendimento dall'inizio dell'anno fiscale del 26,76%. Entrambi i fondi indicano di aver distribuito pi霉 del loro reddito e dei guadagni in conto capitale realizzati netti.
El Tortoise Pipeline & Energy Fund (TTP) y el Tortoise Power and Energy Infrastructure Fund (TPZ) han anunciado sus distribuciones bajo la Secci贸n 19(a) para el 29 de noviembre de 2024. TTP distribuy贸 $0.59 por acci贸n, con un 16% proveniente de ingresos netos de inversiones y un 84% de retorno de capital. TPZ distribuy贸 $0.105 por acci贸n, con un 24% de ingresos netos de inversiones y un 76% de retorno de capital.
TTP report贸 un rendimiento anual promedio de cinco a帽os del 3.30% y un rendimiento del a帽o fiscal hasta la fecha del 39.34%. TPZ mostr贸 un mejor rendimiento con un rendimiento anual promedio de cinco a帽os del 9.12% y un rendimiento del a帽o fiscal hasta la fecha del 26.76%. Ambos fondos indican que han distribuido m谩s de sus ingresos y ganancias de capital netas realizadas.
韱犽ゴ韱犾澊歃� 韺岇澊頂勲澕鞚� 氚� 鞐愲剤歆� 韼�霌� (TTP)鞕赌 韱犽ゴ韱犾澊歃� 鞝勲牓 氚� 鞐愲剤歆� 鞚疙攧霛� 韼�霌� (TPZ)臧� 2024雲� 11鞗� 29鞚检瀽 靹轨厴 19(a) 攵勲鞍毳� 氚滍憸頄堨姷雼堧嫟. TTP電� 欤茧嫻 $0.59毳� 攵勲鞍頄堨溂氅�, 鞚� 欷� 16%電� 靾滍埇鞛愳唽霌濎棎靹�, 84%電� 鞛愲掣頇橁笁鞐愳劀 氚滌儩頄堨姷雼堧嫟. TPZ電� 欤茧嫻 $0.105毳� 攵勲鞍頄堨溂氅�, 24%電� 靾滍埇鞛愳唽霌濎棎靹�, 76%電� 鞛愲掣頇橁笁鞐愳劀 氚滌儩頄堨姷雼堧嫟.
TTP電� 5雲� 韽夑窢 鞐瓣皠 靾橃澋毳犾澊 3.30%鞚搓碃, 須岅硠鞐半弰 齑堦臣 靾橃澋毳犾澊 39.34%霛缄碃 氤搓碃頄堨姷雼堧嫟. TPZ電� 5雲� 韽夑窢 鞐瓣皠 靾橃澋毳犾澊 9.12%鞚搓碃, 須岅硠鞐半弰 齑堦臣 靾橃澋毳犾澊 26.76%搿� 雿� 臧曧暅 靹标臣毳� 氤挫榾鞀惦媹雼�. 霊� 韼�霌� 氇憪 靾橃澋 氚� 靾滌嫟順� 鞛愲掣 鞚挫澋氤措嫟 雿� 毵庫潃 氚半嫻旮堨潉 歆�旮夗枅雼り碃 氤搓碃頃橁碃 鞛堨姷雼堧嫟.
Le Tortoise Pipeline & Energy Fund (TTP) et le Tortoise Power and Energy Infrastructure Fund (TPZ) ont annonc茅 leurs distributions selon la Section 19(a) pour le 29 novembre 2024. TTP a distribu茅 0,59 $ par action, avec 16 % provenant des revenus nets des investissements et 84 % provenant du remboursement de capital. TPZ a distribu茅 0,105 $ par action, avec 24 % provenant des revenus nets des investissements et 76 % provenant du remboursement de capital.
TTP a rapport茅 un rendement annuel moyen sur cinq ans de 3,30 % et un rendement depuis le d茅but de l'exercice de 39,34 %. TPZ a montr茅 une meilleure performance avec un rendement annuel moyen sur cinq ans de 9,12 % et un rendement depuis le d茅but de l'exercice de 26,76 %. Les deux fonds indiquent avoir distribu茅 plus de leurs revenus et de leurs gains en capital r茅alis茅s nets.
Der Tortoise Pipeline & Energy Fund (TTP) und der Tortoise Power and Energy Infrastructure Fund (TPZ) haben ihre Aussch眉ttungen gem盲脽 Abschnitt 19(a) f眉r den 29. November 2024 bekanntgegeben. TTP hat $0,59 pro Aktie ausgesch眉ttet, wobei 16% aus Nettodividenden und 84% aus Kapitalr眉ckerstattung stammen. TPZ hat $0,105 pro Aktie ausgesch眉ttet, wobei 24% aus Nettodividenden und 76% aus Kapitalr眉ckerstattung stammen.
TTP meldete eine f眉nfj盲hrige durchschnittliche j盲hrliche Rendite von 3,30% und eine bisherige Rendite des Gesch盲ftsjahres von 39,34%. TPZ zeigte eine st盲rkere Leistung mit einer f眉nfj盲hrigen durchschnittlichen j盲hrlichen Rendite von 9,12% und einer bisherigen Rendite des Gesch盲ftsjahres von 26,76%. Beide Fonds geben an, dass sie mehr ausgesch眉ttet haben als ihr Einkommen und ihre realisierten Nettokapitalgewinne.
- TTP achieved a significant 39.34% fiscal year-to-date return
- TPZ delivered strong 26.76% fiscal year-to-date return
- TPZ maintained solid 9.12% five-year average annual return
- Both funds are distributing more than their earned income and capital gains
- Majority of distributions (84% for TTP, 76% for TPZ) consist of return of capital
- TTP's five-year average annual return of 3.30% is relatively low
Insights
This Section 19(a) notice reveals concerning distribution patterns for both TTP and TPZ funds. A significant portion of their distributions comes from return of capital -
The funds' distribution policies may not align with their actual earnings capacity, as evidenced by the minimal contribution from net investment income and absence of capital gains in the distributions. This structure could gradually erode the funds' capital base if investment performance doesn't sufficiently cover the distributions. The high annualized distribution rates (
OVERLAND PARK, KS / ACCESSWIRE / November 29, 2024 / This required notice under Section 19(a) of the Investment Company Act of 1940 provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the sources of the distributions paid on Nov. 29, 2024, and cumulative distributions paid fiscal year-to-date.
The following table sets forth the estimated amounts of the current distributions, payable Nov. 29, 2024, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.
Tortoise Pipeline & Energy Fund, Inc.
Estimated Sources of Distributions | ||||
| ($) Current Distribution | % Breakdown of the Current Distribution | ($) Total Cumulative Distributions for the Fiscal Year to Date | % Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date |
Net Investment Income | 0.0915 | 0.4492 | ||
Net AG真人官方ized Short-Term Capital Gains | 0.0000 | 0.0000 | ||
Net AG真人官方ized Long-Term Capital Gains | 0.0000 | 0.0000 | ||
Return of Capital | 0.4985 | 1.9108 | ||
Total (per common share) | 0.5900 | 2.3600 | ||
Average annual total return (in relation to NAV) for the five years ending on October 31, 2024 | |
Annualized current distribution rate expressed as a percentage of NAV as of October 31, 2024 | |
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Cumulative total return (in relation to NAV) for the fiscal year through October 31, 2024 | |
Cumulative fiscal year distributions as a percentage of NAV as of October 31, 2024 |
Tortoise Power and Energy Infrastructure Fund, Inc.
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You should not draw any conclusions about TTP's or TPZ's investment performance from the amount of this distribution or from the terms of TTP's and TPZ's distribution policies.
TTP and TPZ estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TTP and/or TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP's and/or TPZ's investment performance and should not be confused with "yield" or "income."
The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TTP's and TPZ's investment experience during the remainder of their fiscal years and may be subject to changes based on tax regulations. TTP and/or TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Tortoise Capital Advisors is the Adviser to the Tortoise Pipeline & Energy Fund, Inc. and the Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on these funds, please visit .
About Tortoise Capital
With approximately
positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered fund manager that invests primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit .
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Media Contacts
Margaret Kirch Cohen/Richard Chimberg
Newton Park PR
+1 847-507-2229
+1 617-312-4281
[email protected]
[email protected]
SOURCE: Tortoise Capital
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FAQ
What is the current distribution rate for Tortoise Pipeline & Energy Fund (TTP)?
How much of TPZ's distribution is return of capital?
What is the five-year average annual return for TPZ as of October 31, 2024?
What percentage of TTP's distribution comes from net investment income?
