Monthly Distribution Announcement
The NXG NextGen Infrastructure Fund (NYSE: NXG) has made a significant announcement regarding its upcoming monthly distributions. The Fund has declared a distribution of $0.54 per common share for September, October, and November. This decision highlights the Fund's commitment to providing steady income for its shareholders.
Distribution Timeline
Here’s the schedule for the upcoming distributions:
|
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 projected that around 100% of these distributions will be classified as a return of capital, although this is not guaranteed. The final determination will be made and communicated to shareholders in the following year. This initial estimate is based on anticipated earnings and does not account for capital gains or losses.
Funding and Solvency Assurance
The Fund reassures shareholders that distributions will generally be made on schedule unless the Board of Trustees decides to postpone them to comply with applicable regulations or to ensure the Fund's financial stability.
About NXG NextGen Infrastructure Fund
The NXG NextGen Infrastructure Fund is a closed-end management investment company focused on delivering high total returns, particularly through current income generation. To achieve this objective, the Fund invests at least 80% of its net assets in securities tied to infrastructure companies, covering sectors such as energy, industrial, sustainable, and technology infrastructure. Additionally, no more than 25% of its Managed Assets may be invested in energy master limited partnerships that qualify as publicly traded partnerships under the relevant tax code.
Investment Strategies and Associated Risks
Investors should be aware that investing in the Fund carries various risks, including management fees and operational expenses. The value of investments may fluctuate, which can affect the Fund's net asset value, potentially leading it to trade at a discount. Future distributions will depend on several factors, including the Fund's adherence to financial agreements, investment income, and overall financial condition.
Fund Management
Cushing® Asset Management, LP, also known as NXG Investment Management, acts as the registered investment adviser for the Fund. Based in Dallas, Texas, Cushing focuses on providing innovative investment strategies aimed at fostering long-term growth in infrastructure-related 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 announced a distribution of $0.54 per common share for the months of September, October, and November.
When will the distributions be paid?
Distributions are scheduled to be paid on September 30, October 31, and November 29, 2024.
What is the expected return of capital estimate?
It is anticipated that roughly 100% of the distributions will be classified as a return of capital, but this may change based on the Fund's earnings.
Who manages the NXG Fund?
The NXG NextGen Infrastructure Fund is managed by Cushing® Asset Management, LP, which operates under the name NXG Investment Management.
Where can I find more information about NXG?
For additional details, you can visit www.nxgim.com or reach out to Blake Nelson at 214-692-6334.
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