LEAWOOD, Kan. – May 10, 2010 — The Board of Directors of Tortoise North American Energy Corp. (NYSE: TYN) today declared the company's second quarter 2010 distribution of $0.37 per share, which is unchanged from its prior quarter. The distribution will be paid on June 1, 2010, to stockholders of record on May 21, 2010.
Expected Treatment of Distribution
A portion of this distribution is expected to be treated as return of capital for income tax purposes, although the ultimate determination will not be made until determination of our earnings and profits after our year-end.
Annual Stockholders' Meeting
The company will discuss financial results at its annual stockholders' meeting on May 21, 2010 at 10 a.m. CDT at 11550 Ash Street, Suite 300, Leawood, Kansas 66211.
For those unable to attend the meeting, a listen-only conference call will be provided. Please dial-in approximately five to 10 minutes prior to the scheduled start time.
U.S./Canada: (877) 941-8610
The meeting will also be webcast in a listen-only format. The link to the webcast and supplemental information will be accessible at www.tortoiseadvisors.com.
A replay of the meeting will be available beginning at 6 p.m. CDT on May 21, 2010 and continuing until 12 p.m. CDT June 4, 2010, by dialing (800) 406-7325 (U.S./Canada). The replay access code is 4290560#. A replay of the webcast will also be available on the company's Web site at www.tortoiseadvisors.com through May 21, 2011.
About Tortoise North American Energy Corp.
Tortoise North American Energy Corp. is a publicly-traded closed-end fund focused primarily on investing in securities of MLPs, including energy infrastructure, oil and gas exploitation and production, and energy shipping companies. Tortoise North American Energy Corp.'s goal is to provide its stockholders with a high level of total return with an emphasis on current distributions.
About Tortoise Capital Advisors, LLC
Tortoise is an investment manager specializing in listed energy infrastructure, such as pipeline and power companies. As of April 30, 2010, Tortoise had approximately $3.5 billion of assets under management in five NYSE-listed investment companies and private accounts. For more information, visit our Web site at www.tortoiseadvisors.com.
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.
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the company and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, email@example.com