Market Overview

Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc. Provide Section 19(a) Notice

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This notice provides stockholders of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) with information regarding the distributions paid on Aug. 30, 2019 and cumulative distributions paid fiscal year-to-date.

The following table sets forth the estimated amounts of the current distributions, payable Aug. 30, 2019 and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.

Tortoise Pipeline & Energy Fund, Inc.

Estimated Sources of Distributions

 

($) Current

Distribution

% Breakdown

of the Current

Distribution

($) Total Cumulative

Distributions for the

Fiscal Year to Date

% Breakdown of the

Total Cumulative

Distributions for the

Fiscal Year to Date

Net Investment Income

0.0000

0

%

0.0000

0

%

Net Realized Short-Term Capital Gains

0.0000

0

%

0.0000

0

%

Net Realized Long-Term Capital Gains

0.0000

0

%

0.0000

0

%

Return of Capital

0.2850

100

%

1.1000

100

%

Total (per common share)

0.2850

100

%

1.1000

100

%

 

Average annual total return (in relation to NAV) for the 5 years ending on 7/31/2019

-8.72

%

Annualized current distribution rate expressed as a percentage of NAV as of 7/31/2019

10.46

%

 

 

Cumulative total return (in relation to NAV) for the fiscal year through 7/31/2019

1.11

%

Cumulative fiscal year distributions as a percentage of NAV as of 7/31/2019

7.06

%

Tortoise Power and Energy Infrastructure Fund, Inc.

Estimated Sources of Distributions

 

($) Current

Distribution

% Breakdown

of the Current

Distribution

($) Total Cumulative

Distributions for the

Fiscal Year to Date

% Breakdown of the

Total Cumulative

Distributions for the

Fiscal Year to Date

Net Investment Income

0.0312

25

%

0.2784

25

%

Net Realized Short-Term Capital Gains

0.0010

1

%

0.0141

1

%

Net Realized Long-Term Capital Gains

0.0045

4

%

0.0608

5

%

Return of Capital

0.0883

70

%

0.7717

69

%

Total (per common share)

0.1250

100

%

1.1250

100

%

 

Average annual total return (in relation to NAV) for the 5 years ending on 7/31/2019

-0.29

%

Annualized current distribution rate expressed as a percentage of NAV as of 7/31/2019

7.52

%

 

 

Cumulative total return (in relation to NAV) for the fiscal year through 7/31/2019

6.69

%

Cumulative fiscal year distributions as a percentage of NAV as of 7/31/2019

5.64

%

You should not draw any conclusions about TTP or TPZ's investment performance from the amount of this distribution or from the terms of TTP and TPZ's distribution policies.

Each of TTP and TPZ estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TTP and/or TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP or TPZ's investment performance and should not be confused with "yield" or "income."

The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TTP and TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TTP and/or TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

About Tortoise Pipeline & Energy Fund, Inc.

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) is a non-diversified, closed-end management investment company that seeks to obtain a high level of total return with an emphasis on current distributions. TTP invests primarily in equity securities of pipeline companies that transport natural gas, natural gas liquids (NGLs), crude oil and refined products and, to a lesser extent, in other energy infrastructure companies.

About Tortoise Power and Energy Infrastructure Fund, Inc.

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) invests in a portfolio of fixed income and equity securities issued by power and energy infrastructure companies. TPZ's objective is to provide stockholders a high level of current income, with a secondary objective of capital appreciation.

About Tortoise

Tortoise invests in essential assets – t

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