Kayne Anderson Fund Advisors

KMF - Midstream/Energy Fund

KMF - Distribution History

Quarterly Distributions per Share

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Tax Character of Distributions

Our distributions are generally taxable as ordinary income (a portion of which may be qualified dividends) or capital gains. Distributions of our ordinary income plus net short-term capital gains in excess of net long-term capital losses will be taxable as ordinary income to the extent of our current or accumulated earnings and profits. If our distributions exceed our current or accumulated earnings and profits, the distributions will be treated as a return of capital to our common stockholders to the extent of each stockholder’s basis in our common stock, and then the amount distributed in excess of such stockholder’s basis would be taxed as a capital gain. Common stockholders will receive a Form 1099 from us and will recognize ordinary income only to the extent of our current and accumulated earnings and profits. Because the cash distributions received from the MLPs in our portfolio are expected to exceed the earnings and profits associated with owning such MLPs, a portion of our distributions may be paid from sources other than our current and accumulated earnings and profits.

The table below summarizes the tax character of our distributions since inception.

Sample Form 1099-DIV for each year can be found at Tax Information.

          DRIP   Tax Character
Distribution
Amount
Payable
Date
Distribution
Rate1
Ex-DateRecord
Date
PriceMethod2 Ordinary
Income
Qualified
Dividends
Capital
Gains
Return of
Capital
$0.30 10/13/17        8.37% 10/05/17 10/09/17   TBD      OM        TBD         TBD     TBD     TBD
$0.30 07/14/17        7.94% 07/06/17 07/10/17 $15.26      OM        TBD         TBD     TBD     TBD
$0.35 04/21/17        8.84% 04/11/17 04/13/17 $16.05      OM        TBD         TBD     TBD     TBD
$0.35 01/13/17        8.59% 12/28/16 12/30/16 $16.38      OM        66%         34%          -          -
$0.35 10/14/16        9.35% 10/05/16 10/07/16 $15.19      OM        66%         34%          -          -
$0.35 07/15/16        9.92% 07/06/16 07/08/16 $14.18      OM        66%         34%          -          -
$0.35 04/22/16      11.41% 04/13/16 04/15/16 $11.40      NS        66%         34%          -          -
$0.45 01/15/16      20.11% 12/28/15 12/30/15  $8.69      NS        36%         64%          -          -
$0.51 10/23/15      10.45% 10/14/15 10/16/15 $19.42      OM        36%         64%          -          -
$0.51 07/17/15        7.75% 07/08/15 07/10/15 $25.61      OM        11%         19%       70%          -
$1.804 07/17/15         NA 07/08/15 07/10/15 $25.61      OM          -           -     100%          -
$0.5025 04/24/15        5.84% 04/15/15 04/17/15 $34.73      OM        36%         64%         -          -
$0.495 01/16/15        6.24% 12/26/14 12/30/14 $29.23      NS        52%         48%         -          -
$0.4875 10/24/14        5.13% 10/15/14 10/17/14 $38.16      OM        40%         37%       23%          -
$0.48 07/18/14        4.79% 07/09/14 07/11/14 $40.15      OM        52%         48%         -          -
$0.4725 04/25/14        5.38% 04/15/14 04/17/14 $35.09      OM        52%         48%         -          -
$0.465 01/10/14        5.26% 12/26/13 12/30/13 $33.11      NS        28%         36%       36%          -
$0.46 10/18/13        5.69% 10/09/13 10/11/13 $30.28      NS        28%         36%       36%          -
$0.455 07/19/13        5.16% 07/10/13 07/12/13 $32.95      NS        28%         36%       36%          -
$0.45 04/26/13        5.15% 04/17/13 04/19/13 $33.33      NS        28%         36%       36%          -
$0.4425 01/11/13        5.68% 12/26/12 12/28/12 $29.36      NS        51%         26%       23%          -
$0.435 10/26/12        5.98% 10/15/12 10/17/12 $27.39      NS        51%         26%       23%          -
$0.43 07/20/12        6.23% 07/11/12 07/13/12 $26.10      NS        51%         26%       23%          -
$0.425 04/26/12        6.19% 04/18/12 04/20/12 $25.95      NS        51%         26%       23%          -
$0.4175 01/13/12        6.57% 12/28/11 12/30/11 $23.93      NS        79%         21%         -          -
$0.41 10/28/11        6.91% 10/17/11 10/19/11 $22.42      NS        79%         21%         -          -
$0.41 07/22/11        6.55% 07/11/11 07/13/11 $23.73      NS        79%         21%         -          -
$0.3753 03/30/11        6.00% 03/21/11 03/23/11 $23.83      NS        79%         21%         -          -
 

1) The Distribution Rate is calculated as four times the Distribution Amount divided by the closing price on the Payable Date.

2) Our distribution reinvestment plan (the "DRIP"), may be satisfied by the following two methods:


a) New Shares issued (“NS”) - The number of new or treasury shares to be issued to a stockholder shall be based on share price equal to 95% of the closing price of our common stock one day prior to the Distribution payment date.

b) Open Market purchases (“OM”) - Our Board of Directors may instruct us to purchase shares of our common stock in the open market if our common stock is trading below net asset value at the time of valuation. The plan administrator will receive the distribution in cash and will purchase common stock in the open market, for the participants' accounts.


3) Represents an initial partial distribution.

4) Special distribution. See press release.

 

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