Tortoise Capital Advisors Announces Tax Characterization of 2012 Closed-End Fund Distributions

LEAWOOD, Kan.--()--Tortoise Capital Advisors today announced the tax characterization of 2012 distributions paid to stockholders of:

Tortoise Energy Infrastructure Corp. (NYSE: TYG)
Tortoise Energy Capital Corp. (NYSE: TYY)
Tortoise MLP Fund, Inc. (NYSE: NTG)
Tortoise North American Energy Corp. (NYSE: TYN)
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)
Tortoise Energy Independence Fund, Inc. (NYSE: NDP)
                 
2012 Tax Characterization

 

 

of Distributions

MLP Funds

Broader RICs

TYG TYY NTG TYN TPZ TTP NDP
Qualified Dividend Income 100% 100% - 100% - 37% 21%
Ordinary Dividend Income - - - - 59% 21% 68%
Return of Capital - - 100% - - 20% 11%
Long-Term Capital Gain N/A N/A N/A N/A 41% 22% -
 

Additional information regarding the tax characterization of the 2012 distributions is available at www.tortoiseadvisors.com. A copy of the information is also available upon request by calling (866) 362-9331.

Nothing contained herein or therein should be construed as tax advice. Consult your tax advisor for more information. Furthermore, you may not rely upon any information herein or therein for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy infrastructure investments. As of Dec. 31, 2012, the adviser had approximately $9.2 billion of assets under management in NYSE-listed closed-end investment companies, an open-end fund and other 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.

Contacts

Tortoise Capital Advisors, LLC
Pam Kearney, 866-362-9331
Investor Relations
pkearney@tortoiseadvisors.com

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Contacts

Tortoise Capital Advisors, LLC
Pam Kearney, 866-362-9331
Investor Relations
pkearney@tortoiseadvisors.com