Tortoise Energy Independence Fund, Inc. Announces Upcoming Distribution
Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today declared a
first quarter 2016 distribution of $0.4375 per share, unchanged from
fourth quarter 2015. The distribution is payable on Feb. 29, 2016 to
stockholders of record on Feb. 22, 2016. The ex-dividend date is Feb.
“While we recognize the current market environment, we are maintaining
our quarter-over-quarter distribution, due in part to the covered call
premiums we have continued to earn that are enhanced in volatile
markets,” said Brad Adams, CEO of Tortoise’s closed-end funds.
For book purposes, the source of distributions for NDP is estimated to
be approximately 80 to 85 percent ordinary income, with the remainder as
return of capital. For tax purposes, the characterization will not be
made until determination of earnings and profits after year end.
About Tortoise Energy Independence Fund, Inc.
Tortoise Energy Independence Fund, Inc. (NYSE: NDP) is a
non-diversified, closed-end management investment company that seeks to
obtain a high level of total return with an emphasis on current
distributions. NDP invests primarily in North American energy companies
that engage in the exploration and production of crude oil, condensate,
natural gas and natural gas liquids.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager specializing
in energy investments. As of Jan. 31, 2016, the adviser had
approximately $11.6 billion of assets under management across the energy
value chain in listed closed-end funds, mutual funds, private funds and
separate accounts. For more information, visit www.tortoiseadvisors.com.
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.
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 Fund and Tortoise
Capital Advisors believe 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 Fund and Tortoise
Capital Advisors do not assume a duty to update any forward-looking
View source version on businesswire.com: http://www.businesswire.com/news/home/20160209006784/en/
Copyright Business Wire 2016
Source: Business Wire
(February 9, 2016 - 4:56 PM EST)
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