Tortoise Captial Advisors
 

Tortoise Capital Advisors Announces Special Distributions for Certain Closed-End Funds

LEAWOOD, Kan.-- December 10, 2014 -- ()--Tortoise Capital Advisors announced the following special distributions today:

Fund

Ticker

Special
Distribution
Amount

Tortoise Power and Energy Infrastructure Fund, Inc. TPZ $1.25 per share
Tortoise Pipeline & Energy Fund, Inc. TTP $0.15 per share

The TPZ and TTP special distributions are payable on Dec. 31, 2014 to stockholders of record on Dec. 24, 2014. The ex-dividend date is Dec. 22, 2014. These distributions are being made at this time in order to avoid being subject to U.S. federal income taxes. For tax purposes, the characterization will not be made until determination of earnings and profits after year-end. A final determination of the characterization will be made in January 2015.

TPZ and TTP will report the source of these distributions at the time of the payment in the applicable Section 19(a) Notice.

You should not draw any conclusions about TPZ’s or TTP’s investment performance from the amount of these distributions or from the terms of TPZ’s or TTP’s distribution policy.

The amounts and sources of distributions TPZ and TTP report 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 depend upon TPZ’s and TTP’s investment experience during their most recently completed fiscal years and may be subject to changes based on tax regulations. TPZ and TTP will each send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

2014 Year-End Closed-End Fund Conference Call

TPZ and TTP, together with the other Tortoise closed-end funds, will host a year-end conference call on Dec. 17, 2014 at 3:30 p.m. Central, to discuss current U.S. energy industry market conditions and Tortoise closed-end funds’ 2014 year-end results.

Participants can access the conference call by dialing 877-407-9210.

A replay of the call will be available on the company’s Website at www.tortoiseadvisors.com or by dialing 877-660-6853 (Conference ID # 13594177) until 11:59 p.m. Central on Dec. 17, 2015.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of Nov. 30 2014, the adviser had approximately $17.7 billion of assets under management in NYSE-listed closed-end investment companies, open-end funds, private funds and other accounts. For more information, visit www.tortoiseadvisors.com.

Forward-Looking Statement

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 funds and Tortoise Capital Advisors believe that 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 funds’ 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 funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

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, L.L.C.
Pam Kearney, 866-362-9331
Investor Relations
pkearney@tortoiseadvisors.com