Tortoise Energy Infrastructure Corp. (NYSE:TYG) announced a quarterly dividend on Thursday, February 8th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend is Tuesday, February 20th.
Tortoise Energy Infrastructure has raised its dividend payment by an average of 3.2% annually over the last three years. Tortoise Energy Infrastructure has a dividend payout ratio of -689.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of Tortoise Energy Infrastructure (NYSE:TYG) opened at $30.64 on Thursday. Tortoise Energy Infrastructure has a one year low of $24.30 and a one year high of $37.11.
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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