NXG NextGen Infrastructure Income Fund Announces New Distributions
Announcement of Monthly Distributions
NXG NextGen Infrastructure Fund (NYSE: NXG) has recently made an important announcement regarding its monthly distributions. The Fund has declared distributions amounting to $0.54 per common share for the months of September, October, and November. This move emphasizes the Fund's focus on providing consistent income to its shareholders.
Distribution Schedule
The distribution payout is structured as follows:
Record Date |
Ex-Dividend Date |
Payment Date |
Distribution Amount |
Return of Capital Estimate1 |
|
September 17, 2024 |
September 17, 2024 |
September 30, 2024 |
$0.54 |
100 % |
|
October 15, 2024 |
October 15, 2024 |
October 31, 2024 |
$0.54 |
100 % |
|
November 15, 2024 |
November 15, 2024 |
November 29, 2024 |
$0.54 |
100 % |
|
1It is anticipated that approximately 100% of these distributions will be categorized as a return of capital, but this is not certain. The final amount will be determined and communicated to shareholders in the following year. This initial estimate is based on expected earnings and doesn't reflect capital gains or losses.
Funding and Solvency Considerations
The Fund assures shareholders that distributions will typically be made on time unless the Board of Trustees decides to defer them to maintain compliance with applicable laws or to guarantee the Fund's solvency.
About NXG NextGen Infrastructure Fund
The NXG NextGen Infrastructure Fund is a closed-end management investment company dedicated to achieving high total returns with a primary focus on generating current income. To meet this goal, the Fund invests at least 80% of its net assets in securities associated with infrastructure companies. This includes sectors like energy, industrial, sustainable, and technology infrastructure. Additionally, no more than 25% of its Managed Assets may be allocated to energy master limited partnerships that qualify as publicly traded partnerships under relevant tax code.
Investment Strategies and Risks
Investors should be mindful that investing in the Fund involves various risks, including management fees and operational costs. The value of investments can fluctuate, impacting the Fund's net asset value, which may lead it to trade at a discount. Future distributions will depend on numerous factors, including the Fund's compliance with financial agreements, investment income, and overall financial health.
Management of the Fund
Cushing® Asset Management, LP, also known as NXG Investment Management, serves as the Fund's registered investment adviser. Based in Dallas, Texas, Cushing is focused on delivering innovative investment strategies targeting long-term growth in infrastructure-centered companies.
Contact:
Blake Nelson
NXG Investment Management
214-692-6334
www.nxgim.com
Frequently Asked Questions
What is the new distribution amount for NXG?
The NXG NextGen Infrastructure Fund has declared a distribution of $0.54 per common share for September, October, and November.
When will the distributions be paid?
Distributions will be paid on the payment dates specified, which are September 30, October 31, and November 29, 2024.
What is the anticipated return of capital estimate?
It is expected that approximately 100% of the distributions will be considered a return of capital, although this is subject to change based on the Fund's earnings.
Who manages the NXG Fund?
Cushing® Asset Management, LP, doing business as NXG Investment Management, manages the NXG NextGen Infrastructure Fund.
Where can I find more information about NXG?
For more information, you can visit www.nxgim.com or contact Blake Nelson at 214-692-6334.
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