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

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a monthly dividend on Thursday, February 20th, NASDAQ Dividends reports. Shareholders of record on Monday, March 24th will be paid a dividend of 0.365 per share by the financial services provider on Monday, March 31st. This represents a $4.38 dividend on an annualized basis and a yield of 9.74%. The ex-dividend date of this dividend is Monday, March 24th.

Tortoise Energy Infrastructure Stock Performance

TYG traded down $0.66 during trading on Friday, reaching $44.95. 110,302 shares of the stock traded hands, compared to its average volume of 108,140. The stock’s 50-day moving average is $44.49 and its 200 day moving average is $41.51. Tortoise Energy Infrastructure has a 12 month low of $28.91 and a 12 month high of $48.76.

Insider Activity

In related news, major shareholder Prudential Financial Inc bought 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the transaction, the insider now directly owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the 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 of the company’s stock, valued at $45,300,616.46. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

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.