For book purposes, the source of distributions for TYG, TYY, TYN and NTG is estimated to be 100 percent return of capital, and the source of distributions for TTP is estimated to be approximately 60 to 70 percent ordinary income with the remainder as return of capital.
On Sept. 4, 2012, Tortoise Energy Independence Fund, Inc. (NYSE: NDP) declared its initial distribution of $0.4375 per share. The distribution will be paid on Nov. 30, 2012 to stockholders of record on Nov. 23, 2012. This distribution achieves NDP's target of a 7.0 percent annualized yield on its $25 public offering price. For tax purposes, we currently expect 60 to 80 percent of NDP’s 2012 distribution to be characterized as dividend income and capital gain, with the remainder as return of capital. For book purposes, the source of distribution is estimated to be approximately 60 to 80 percent ordinary income with the remainder as return of capital.
|Fund||Ticker||Monthly Distribution Amount|
|Tortoise Power and EnergyInfrastructure Fund, Inc.||TPZ||$0.1250|
The TPZ monthly distributions will be paid on Dec. 31, 2012, Jan. 31, 2013 and Feb. 28, 2013 to stockholders of record on the respective dates of Dec. 21, 2012, Jan. 24, 2013 and Feb. 21, 2013. For tax purposes, we currently expect 80 to 100 percent of TPZ’s 2012 distributions to be characterized as ordinary income and capital gain, with the remainder, if any, as return of capital. TPZ will report the sources for these monthly distributions at the time of payment in the applicable Section 19(a) Notice.
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