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Kayne Anderson Energy Development Company Announces Results For The Quarter Ended August 31, 2012

DISTRIBUTION

On September 28, 2012, the Company declared a distribution of $0.43 per share for the quarter ended August 31, 2012, which was paid on October 26, 2012 to stockholders. This distribution represents an increase of 4.9% from the prior quarter distribution ($0.41 per share) and an increase of 13.2% from the distribution for the quarter ended August 31, 2011.

GUIDANCE

The Company estimates its portfolio will generate dividends, distributions, and interest income of approximately $7.1 million in the next quarter. This estimate includes cash distributions of $1.2 million per quarter for Direct Fuels, which is pro forma for the October 23, 2012 redemption of the Preferred D units. The Company has assumed that the proceeds from this redemption will be reinvested at an average yield of 8.5%. The estimate also includes distributions of $0.9 million per quarter from VantaCore, which is based on only the cash distributions the Company expects to receive, on average, over the next four quarters of $0.343 per common and preferred A unit and $0.383 per preferred B unit. The Company’s guidance does not include payment-in-kind distributions that the Company expects to receive on VantaCore’s common and preferred A units. The Company’s guidance does not reflect any changes in cash distributions made by MLPs or changes in interest rates based on the movement in LIBOR rates since August 31, 2012.
                   
Portfolio Category

 

Amount

Invested

($ in millions)
 

Average Annual

Yield (1)(2)
 
Private MLPs (3)(4)

$

  85
 

10.9
%
Public MLPs and Other Public Equity  

  190
 

  6.7
 
Debt Investments (5)(6)  

  59
  10.5  

(1) Average yields include return of capital distributions. Return of capital distributions are reported as a reduction to gross dividends and distributions to arrive at net investment income reported under generally accepted accounting principles.

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