Tortoise Energy Infrastructure Co. (TYG) to Issue — Dividend of $0.37 on May 30th

Tortoise Energy Infrastructure Co. (NYSE:TYGGet Free Report) announced a — dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be given a dividend of 0.365 per share by the financial services provider on Friday, May 30th. This represents a yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

Tortoise Energy Infrastructure Stock Down 2.4 %

Tortoise Energy Infrastructure stock opened at $43.50 on Wednesday. Tortoise Energy Infrastructure has a 12-month low of $28.91 and a 12-month high of $48.76. The firm’s 50-day moving average is $44.53 and its two-hundred day moving average is $41.72.

Insiders Place Their Bets

In other news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the insider now owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $42.46, for a total transaction of $391,099.06. Following the transaction, the insider now directly owns 1,066,901 shares in the company, valued at approximately $45,300,616.46. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

(Get Free Report)

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.

See Also

Dividend History for Tortoise Energy Infrastructure (NYSE:TYG)

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