Tortoise Energy Infrastructure Co. Announces — Dividend of $0.37 (NYSE:TYG)

Tortoise Energy Infrastructure Co. (NYSE:TYG) declared a — dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Friday, May 23rd will be given a dividend of 0.365 per share by the financial services provider on Friday, May 30th. This represents a yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

Tortoise Energy Infrastructure Trading Down 2.4 %

Shares of TYG opened at $43.50 on Wednesday. The stock has a 50 day moving average of $44.53 and a 200-day moving average of $41.72. Tortoise Energy Infrastructure has a 52 week low of $28.91 and a 52 week high of $48.76.

Insider Transactions at Tortoise Energy Infrastructure

In related news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the insider now owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $41.61, for a total transaction of $235,803.87. Following the transaction, the insider now directly owns 1,061,234 shares of the company’s stock, valued at approximately $44,157,946.74. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.