Distribution Announcement from NXG Cushing Midstream Energy Fund
The NXG Cushing® Midstream Energy Fund (NYSE: SRV) has made an exciting announcement regarding its monthly distributions for the upcoming months. Shareholders can look forward to receiving a distribution of $0.45 per common share for September, October, and November.
Distribution Schedule
Shareholders should take note of 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 Return of Capital Estimate
The announced distribution amounts are particularly noteworthy for shareholders, as a significant portion is expected to be classified as a return of capital. This estimate is based on the Fund's projected earnings and profits for the fiscal year. The final determination of these distributions will be made in early 2025, once the Fund evaluates its financial performance for the year.
Important Information About the Fund
The NXG Cushing® Midstream Energy Fund is a closed-end investment company that aims to deliver high after-tax returns through a combination of capital appreciation and income. The Fund strategically invests at least 80% of its assets in midstream energy investments, which include various infrastructures such as gathering, transporting, and processing natural resources. Companies are classified as midstream energy firms if a significant part of their operations is related to these activities.
Investment Strategy Insights
Investing in the NXG Fund comes with certain risks, including variable operating expenses and shifting market conditions. Investors should be aware that the market value of closed-end funds can fluctuate significantly compared to their net asset values, often trading at a discount.
About NXG Investment Management
Cushing® Asset Management, LP operates under the name NXG Investment Management. This registered investment advisor, based in Texas, specializes in assisting investors in achieving long-term growth through distinctive investment strategies focused on both traditional and transformative infrastructure projects.
For any inquiries, please reach out to:
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 focused on achieving high after-tax returns through investments in midstream energy.
What are the announced distribution amounts for the Fund?
The Fund has declared monthly distributions of $0.45 per common share for September, October, and November.
When will the distributions be paid out?
The distributions will be paid on the specified payment dates listed in the schedule above, pending approval from the Fund's Board of Trustees.
What does return of capital mean?
Return of capital refers to distributions that may not be considered taxable income, based on the Fund's earnings and profits, as they might be viewed as a return of the shareholders' investment.
How can investors find more information about the Fund?
Investors can learn more about the NXG Cushing Midstream Energy Fund by visiting their website at www.nxgim.com.
