November 11, 2005 (Overland Park, KS) - The Board of Directors of Tortoise Energy Infrastructure Corporation (NYSE: TYG) today declared the Company's fourth quarter dividend of $0.455 per share, compared to $0.45 in the previous quarter. The dividend will be distributed on November 30, 2005 to stockholders of record on November 22, 2005. This represents a 5.8% increase over the same quarter of the prior year, and a 1.1% increase over the distribution for the prior quarter.
"The growth of the dividend helps achieve our goal of providing high total returns on the common stock of TYG. Our investment strategy allows Tortoise shareholders to benefit from the strong fundamentals of the energy infrastructure market," said David Schulte, President and CEO of Tortoise Energy.
The Company confirmed that a portion of this dividend is expected to constitute return of capital for tax reporting purposes. The tax character of dividends received during the year may change due to portfolio activity. Final determinations will be reported to stockholders at the beginning of 2006 on their Form 1099.
About Tortoise Energy
Tortoise Energy Infrastructure Corporation's investment objective is to provide its stockholders with a high level of total return with an emphasis on current distributions paid to stockholders. Tortoise Energy owns a portfolio of investments in the energy infrastructure sector, primarily in pipeline and processing master limited partnerships.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains statements, estimates or projections that constitute "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. 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 the company's filings with the SEC. 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. There is no assurance that Tortoise Energy's investment objectives will be attained.
Tortoise Capital Advisors, L.L.C.
Investor Relations at (913)981-1020, www.tortoiseenergy.com