Tortoise MLP Fund, Inc. Announces Upcoming Distribution
Tortoise MLP Fund, Inc. (NYSE: NTG) today declared a first quarter 2016
distribution of $0.4225 per share, unchanged from fourth quarter 2015.
This distribution is payable on Feb. 29, 2016 to stockholders of record
on Feb. 22, 2016. The ex-dividend date is Feb. 18, 2016.
“As we’ve routinely communicated, our goal with our MLP-focused
closed-end funds is to establish and maintain what we believe to be
adequate distribution coverage, supporting our emphasis on long-term
distribution sustainability,” said Brad Adams, CEO of Tortoise’s
closed-end funds. “While we recognize the challenging market conditions,
our focus on high quality companies that have continued to generate
solid cash flows allows us to maintain this quarter-over-quarter
For book purposes, the source of distributions for NTG is estimated to
be 100 percent return of capital. For tax purposes, the characterization
will not be made until determination of earnings and profits after year
About Tortoise MLP Fund, Inc.
Tortoise MLP Fund, Inc. owns a portfolio of master limited partnership
(MLP) investments in the energy infrastructure sector, with an emphasis
on natural gas infrastructure MLPs. Tortoise MLP Fund, Inc.’s objective
is to provide its stockholders a high level of total return with an
emphasis on current distributions.
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 Company 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 Company’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 Company
and Tortoise Capital Advisors do not assume a duty to update any
View source version on businesswire.com: http://www.businesswire.com/news/home/20160209006775/en/
Copyright Business Wire 2016
Source: Business Wire
(February 9, 2016 - 4:55 PM EST)
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