Tortoise Energy Infrastructure Co. (NYSE:TYG) Plans Quarterly Dividend of $0.71

Tortoise Energy Infrastructure Co. (NYSE:TYGGet Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Investors of record on Tuesday, May 24th will be paid a dividend of 0.71 per share by the financial services provider on Tuesday, May 31st. This represents a $2.84 annualized dividend and a yield of 8.65%. The ex-dividend date of this dividend is Monday, May 23rd.

Tortoise Energy Infrastructure has decreased its dividend by an average of 48.0% per year over the last three years and has raised its dividend every year for the last 2 years.

Shares of TYG stock opened at $32.85 on Friday. The business has a 50-day moving average of $33.36 and a 200 day moving average of $30.72. Tortoise Energy Infrastructure has a 1-year low of $24.77 and a 1-year high of $36.85.

Institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in Tortoise Energy Infrastructure in the 1st quarter valued at $210,000. Jaffetilchin Investment Partners LLC boosted its stake in shares of Tortoise Energy Infrastructure by 9.9% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 11,642 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,052 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Tortoise Energy Infrastructure in the 1st quarter valued at $1,037,000. Guggenheim Capital LLC boosted its stake in shares of Tortoise Energy Infrastructure by 27.9% in the 1st quarter. Guggenheim Capital LLC now owns 31,841 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 6,940 shares in the last quarter. Finally, Cannell Capital LLC boosted its stake in shares of Tortoise Energy Infrastructure by 20.0% in the 1st quarter. Cannell Capital LLC now owns 35,879 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 5,982 shares in the last quarter. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

About Tortoise Energy Infrastructure (Get Rating)

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.

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Dividend History for Tortoise Energy Infrastructure (NYSE:TYG)

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