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

Tortoise Energy Infrastructure Co. (NYSE:TYG) declared a — dividend on Tuesday, February 25th, Wall Street Journal reports. Stockholders of record on Friday, May 23rd will be given a dividend of 0.365 per share by the financial services provider on Friday, May 30th. This represents a dividend yield of 8.4%. The ex-dividend date is Friday, May 23rd.

Tortoise Energy Infrastructure Stock Up 0.0 %

TYG opened at $43.53 on Wednesday. The stock’s 50 day moving average price is $44.53 and its two-hundred day moving average price is $41.72. Tortoise Energy Infrastructure has a 12-month low of $29.03 and a 12-month high of $48.76.

Insider Activity

In other Tortoise Energy Infrastructure news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Prudential Financial Inc acquired 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction on Wednesday, December 18th. The stock was purchased at an average price 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 in the company, valued at approximately $15,000,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.28% of the stock is owned by company 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.