Tortoise Energy Infrastructure Co. (TYG) to Issue Monthly Dividend of $0.37 on March 31st

Tortoise Energy Infrastructure Co. (NYSE:TYG) declared a monthly dividend on Thursday, February 20th, NASDAQ Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 9.74%. The ex-dividend date is Monday, March 24th.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG traded down $0.66 during midday trading on Friday, hitting $44.95. The company had a trading volume of 110,302 shares, compared to its average volume of 108,140. The company’s 50-day simple moving average is $44.49 and its 200-day simple moving average is $41.51. Tortoise Energy Infrastructure has a 1 year low of $28.91 and a 1 year high of $48.76.

Insider Activity

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

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.