Kayne Anderson MLP/Midstream Investment Company Announces Distribution of $0.15 per Share for Q3 2020
September 10 2020 - 6:05PM
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) (the
“Company”) announced today a quarterly distribution of $0.15 per
share for the fiscal quarter ended August 31, 2020. This
distribution is payable to common stockholders on September 30,
2020 (as outlined in the table below).
The Company expects the next distribution to be declared and
paid in December 2020. Payment of future distributions is subject
to the Board of Directors’ approval, as well as meeting the
covenants of the Company’s debt agreements and terms of its
preferred stock.
Ex-Date |
Record Date |
Payment Date |
Distribution Amount |
Return of CapitalEstimate(1) |
|
|
|
|
|
9/21/20 |
9/22/20 |
9/30/20 |
$0.15 |
100% |
(1) The return of capital estimate is based on the
Company’s anticipated earnings and profits for fiscal 2020. The
final determination of the tax character of distributions will be
made in early 2021 and may differ substantially from this
preliminary information.
Kayne Anderson MLP/Midstream Investment Company is a
non-diversified, closed-end management investment company
registered under the Investment Company Act of 1940, as amended,
whose common stock is traded on the NYSE. KYN’s investment
objective is to obtain a high after-tax total return by investing
at least 85% of its total assets in energy-related master limited
partnerships and their affiliates (“MLPs”), and in other companies
that, as their principal business, operate assets used in the
gathering, transporting, processing, storing, refining,
distributing, mining or marketing of natural gas, natural gas
liquids, crude oil, refined petroleum products or coal
(collectively with MLPs, “Midstream Energy Companies”).
The Company pays cash distributions to common stockholders at a
rate that may be adjusted from time to time. The amount of
distributions is not guaranteed and may vary depending on a number
of factors, including changes in portfolio holdings and market
conditions.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of any securities
in any jurisdiction in which such offer or sale is not permitted.
Nothing contained in this press release is intended to recommend
any investment policy or investment strategy or take into account
the specific objectives or circumstances of any investor. Please
consult with your investment, tax, or legal adviser regarding your
individual circumstances prior to investing.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains “forward-looking statements” as defined under the
U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from the Company’s historical experience
and its present expectations or projections indicated in any
forward-looking statements. These risks include, but are not
limited to, changes in economic and political conditions;
regulatory and legal changes; MLP industry risk; leverage risk;
valuation risk; interest rate risk; tax risk; and other risks
discussed in detail in the Company’s filings with the SEC,
available at www.sec.gov. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. The Company undertakes no obligation to publicly update
or revise any forward-looking statements made herein. There is no
assurance that the Company’s investment objectives will be
attained.
Contact: KA Fund Advisors, LLC Investor Relations 877-657-3863
cef@kaynecapital.com www.kaynefunds.com
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