Tortoise Energy Infrastructure Co. (NYSE:TYG) Plans $0.37 Dividend

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a dividend on Monday, March 24th, investing.com reports. Stockholders of record on Tuesday, March 25th will be paid a dividend of 0.365 per share by the financial services provider on Monday, March 31st. This represents a dividend yield of 10%. The ex-dividend date is Monday, March 24th.

Tortoise Energy Infrastructure Price Performance

Shares of TYG opened at $43.66 on Tuesday. The business’s 50-day moving average price is $44.41 and its 200 day moving average price is $42.56. Tortoise Energy Infrastructure has a 1-year low of $29.54 and a 1-year high of $48.76.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the sale, the insider now owns 1,061,234 shares in the company, valued at $44,157,946.74. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.