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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-Date | Record Date | Price | Method2 | Ordinary Income | Qualified Dividends | Capital Gains | Return of Capital | |||||
| $0.075 | 03/29/19 | TBD | 03/13/19 | 03/14/19 | TBD | TBD | TBD | TBD | TBD | TBD | |||||
| $0.075 | 02/28/19 | TBD | 02/13/19 | 02/14/19 | TBD | TBD | TBD | TBD | TBD | TBD | |||||
| $0.075 | 01/31/19 | 7.93% | 01/16/19 | 01/17/19 | $11.46 | OM | TBD | TBD | TBD | TBD | |||||
| $0.10 | 12/31/18 | 12.44% | 12/19/18 | 12/20/18 | $9.55 | OM | - | 9% | - | 91% | |||||
| $0.10 | 11/30/18 | 10.95% | 11/14/18 | 11/15/18 | $10.94 | OM | - | 9% | - | 91% | |||||
| $0.10 | 10/31/18 | 10.67% | 10/10/18 | 10/11/18 | $11.44 | OM | - | 9% | - | 91% | |||||
| $0.105 | 09/28/18 | 9.38% | 09/19/18 | 09/20/18 | $13.04 | OM | - | 9% | - | 91% | |||||
| $0.30 | 07/13/18 | 9.37% | 07/06/18 | 07/09/18 | $12.86 | OM | - | 9% | - | 91% | |||||
| $0.30 | 04/20/18 | 9.63% | 04/12/18 | 04/13/18 | $12.60 | OM | - | 9% | - | 91% | |||||
| $0.30 | 01/12/18 | 8.00% | 12/28/17 | 12/29/17 | $14.94 | OM | - | - | - | 100% | |||||
| $0.30 | 10/13/17 | 8.37% | 10/05/17 | 10/09/17 | $14.16 | OM | - | - | - | 100% | |||||
| $0.30 | 07/14/17 | 7.94% | 07/06/17 | 07/10/17 | $15.26 | OM | - | - | - | 100% | |||||
| $0.35 | 04/21/17 | 8.84% | 04/11/17 | 04/13/17 | $16.05 | OM | - | - | - | 100% | |||||
| $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 quarterly 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.
5) The Fund previously announced its intention to adopt a monthly distribution after the closing of its merger with Kayne Anderson Energy Total Return Fund, which closed on 8/6/18. The distribution payable in September is the first monthly distribution under the new policy.
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