Tortoise Energy Infrastructure Corp. (NYSE:TYG) announced a quarterly dividend on Thursday, February 8th, Zacks reports. Shareholders of record on Wednesday, February 21st will be given a dividend of 0.655 per share by the financial services provider on Wednesday, February 28th. This represents a $2.62 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date is Tuesday, February 20th.
Tortoise Energy Infrastructure has increased its dividend payment by an average of 3.2% annually over the last three years. Tortoise Energy Infrastructure has a payout ratio of -689.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Tortoise Energy Infrastructure (TYG) traded up $0.05 on Thursday, reaching $30.69. The company’s stock had a trading volume of 11,319 shares, compared to its average volume of 193,913. Tortoise Energy Infrastructure has a 12-month low of $24.30 and a 12-month high of $36.60.
About Tortoise Energy Infrastructure
Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.
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