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OVERLAND PARK, KS / ACCESSWIRE / November 25, 2024 / Tortoise Capital announced excise tax distributions declared by three of its closed-end funds: NTG, TTP, and NDP. These excise distributions are payable on Dec. 13, 2024, to shareholders of record on Dec. 6, 2024.
Tortoise Capital closed-end funds excise tax distribution details are as follows:
Per Share
| Fund | Ticker | Distribution Amount |
| Tortoise Midstream Energy Fund, Inc. | NTG | $0.530 |
| Tortoise Pipeline & Energy Fund, Inc. | TTP | $0.175 |
| Tortoise Energy Independence Fund, Inc. | NDP | $0.255 |
The distributions for NTG and NDP will consist of net investment income earned by each Fund and return of capital. The tax characterization of all distributions paid in 2024 will be made after the end of 2024 and will be provided on Form 1099-DIV.
Investors should not draw any conclusions about TTP's investment performance from the amount of these distributions or from the terms of TTP's distribution policy.
TTP estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the distribution may be return of capital. A return of capital may occur, for example, when some or all of the money invested in TTP is paid back to the investor. A return of capital distribution does not necessarily reflect TTP's investment performance and should not be confused with "yield" or "income."
TTP will report the sources for its distributions at the time of the payment in the applicable Section 19(a) Notice. The amounts and sources of distributions TTP reports 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 be made after the end of 2024 and will be provided on Form 1099-DIV.
About Tortoise Capital
With approximately $8.8 billion in assets under management as of October 31, 2024, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well-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 www.TortoiseAdvisors.com.
Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., and Tortoise Energy Independence Fund, Inc.