Tortoise Energy Infrastructure Co. (NYSE:TYG) Announces $0.37 Dividend

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a dividend on Monday, March 24th. Shareholders who are on record as of Tuesday, March 25th will receive a dividend of $0.365 per share on Monday, March 31st. This dividend reflects a notable yield of 10%. The ex-dividend date for this payment is set for Monday, March 24th.

Market Performance of Tortoise Energy Infrastructure

On the day of the announcement, shares of TYG dipped by $0.15, reaching a price of $43.66. During trading, approximately 53,616 shares changed hands, which is slightly below its average trading volume of 55,323 shares. The company holds a 50-day moving average price of $44.41 and a 200-day moving average price of $42.56. Over the past year, TYG's stock has experienced a low of $29.54 and a high of $48.76.

Insider Trading Activity

In related news, a significant shareholder, Saba Capital Management, L.P., recently sold 5,667 shares of TYG stock on December 30th for an average price of $41.61, totaling about $235,803.87. Following this sale, the insider now holds approximately 1,061,234 shares of the company, valued at about $44,157,946.74. This transaction reflects a 0.53% reduction in their ownership stake. Furthermore, it has been disclosed through a filing with the Securities & Exchange Commission that company insiders own about 0.28% of TYG stock.

Overview of Tortoise Energy Infrastructure

Founded and managed by Tortoise Capital Advisors LLC, Tortoise Energy Infrastructure Corporation operates as a closed-end equity mutual fund. This fund primarily focuses on investing in public equity within the United States. The main investment strategy includes targeting companies that operate within the energy infrastructure sector. This encompasses firms involved in the transportation, processing, storage, distribution, or marketing of natural gas, natural gas liquids (such as propane), coal, crude oil, and refined petroleum products, as well as those engaged in exploring, developing, managing, or producing these commodities.

dividend, investment, infrastructure