Tortoise Energy Infrastructure Co. (NYSE:TYG) Plans — Dividend of $0.37

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a — dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be paid 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 Price Performance

Shares of NYSE:TYG opened at $43.56 on Thursday. The company’s fifty day moving average is $44.56 and its two-hundred day moving average is $41.73. Tortoise Energy Infrastructure has a 12-month low of $29.03 and a 12-month high of $48.76.

Insider Buying and Selling

In related news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the insider now directly owns 1,500,000 shares in the company, valued at approximately $15,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock in a transaction on Monday, December 30th. The stock was sold at an average price of $41.61, for a total transaction of $235,803.87. Following the sale, the insider now directly owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

About Tortoise Energy Infrastructure

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.