NXG Cushing Midstream Energy Fund (NYSE: SRV) Announces New Distributions
Announcement of Distributions by NXG Cushing Midstream Energy Fund
The NXG Cushing® Midstream Energy Fund (NYSE: SRV) has officially declared its monthly distributions for the upcoming months. This announcement brings exciting news to shareholders as they are set to receive a distribution of $0.45 per common share for September, October, and November.
Schedule for Distributions
Shareholders can look forward to the following distribution schedule:
Record Date |
Ex-Dividend Date |
Payment Date |
Distribution Amount |
Return of Capital Estimate1 |
9/17/2024 |
9/17/2024 |
9/30/2024 |
$0.45 |
100 % |
10/15/2024 |
10/15/2024 |
10/31/2024 |
$0.45 |
100 % |
11/15/2024 |
11/15/2024 |
11/29/2024 |
$0.45 |
100 % |
Understanding the Return of Capital Estimate
The distribution amounts announced are significant for shareholders, with expectations that a large proportion will qualify as a return of capital. This estimate is based on the Fund's anticipated earnings and profits for the fiscal year. The precise determination of these distributions will occur in early 2025 once the Fund reviews its financial outcomes for the year.
Key Information About the Fund
The NXG Cushing® Midstream Energy Fund is a closed-end investment company aiming for a high after-tax return through a mix of capital appreciation and income. It strategically invests at least 80% of its assets in midstream energy investments, which encompass a variety of infrastructures including gathering, transporting, and processing natural resources. The Fund identifies companies as midstream energy firms if a significant portion of their business is tied to such operations.
Insights into Investment Strategies
Investments in the NXG Fund involve certain risks, including fluctuating operating expenses and changing market conditions. It's crucial for investors to note that the market value of closed-end funds can differ significantly from their net asset values, often trading at discounts.
About NXG Investment Management
Cushing® Asset Management, LP operates under the brand NXG Investment Management. It is a registered investment advisor located in Texas, specializing in helping investors achieve long-term growth through unique investment strategies focused on traditional and transformative infrastructure projects.
For further inquiries, please contact:
Blake Nelson
NXG Investment Management
214-692-6334
www.nxgim.com
Frequently Asked Questions
What is the NXG Cushing Midstream Energy Fund?
The NXG Cushing Midstream Energy Fund (NYSE: SRV) is a closed-end investment company seeking high after-tax returns through midstream energy investments.
What are the key distribution amounts announced by the Fund?
The Fund has announced monthly distributions of $0.45 per common share for the months of September, October, and November.
When will distributions be paid?
The distributions will be payable on the payment dates outlined in the schedule listed above, subject to approval from the Fund's Board of Trustees.
What is meant by return of capital?
Return of capital indicates that the distribution may not be regarded as taxable income, based on the Fund's current earnings and profits, as it might be treated as a return of shareholders' investment.
How can investors learn more about the Fund?
Investors can find additional information about the NXG Cushing Midstream Energy Fund by visiting their website at www.nxgim.com.
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