LEAWOOD, Kan. -- February 10, 2015 -- (BUSINESS WIRE) --

Please replace the release dated Feb. 9, 2015, with the following corrected version due to revisions.

The corrected release reads:

TORTOISE CAPITAL ADVISORS ANNOUNCES DISTRIBUTION AMOUNTS AND DATES FOR CLOSED-END FUNDS (TYG, NTG, TTP, NDP, TPZ)

Tortoise Capital Advisors announces upcoming distribution amounts and dates for its closed-end funds, reflecting distribution growth for most funds. These distribution increases stem from careful, ongoing evaluation of the distribution strategy for each fund.

“For our MLP closed-end funds, TYG and NTG, our goal is to build and maintain what we believe to be adequate distribution coverage, supporting our emphasis on long-term distribution sustainability,” said Brad Adams, managing director of Tortoise and CFO of the closed-end funds. “We feel that TYG‘s distribution coverage, built over time and especially since the merger, has reached a level where a distribution increase, in excess of the Q1 2015 guidance of a half cent increase, is appropriate.” TYG and NTG distributions for the remainder of the year will be guided primarily by the change in distributable cash flow (DCF).

Tortoise‘s more broadly focused closed-end funds, TTP, NDP and TPZ are required to pay out all their capital gains each year as regulated investment companies (RICs). “In particular, TTP and TPZ paid capital gains in 2014 and we anticipate that will continue to be the case,” said Mr. Adams. “We believe it‘s a benefit to stockholders to receive a portion of these gains throughout the year, reducing the capital gains distribution paid at year-end. As such, the distributions for TTP and TPZ reflect a portion of anticipated 2015 gains.”

The amounts and dates are as follows:

The TPZ monthly distributions are payable on March 31, 2015, April 30, 2015 and May 29, 2015 to stockholders of record on the respective dates of March 24, 2015, April 23, 2015 and May 22, 2015. The respective ex-dividend dates are March 20, 2015, April 21, 2015 and May 20, 2015.

For book purposes, the source of distributions for TYG and NTG is estimated to be 100 percent return of capital, and the source of distributions for NDP is estimated to be approximately 75 to 85 percent ordinary income, with the remainder as return of capital. For tax purposes, the characterization will not be made until determination of earnings and profits after year end.

A portion of TTP‘s and TPZ‘s distributions may include realized capital gains. By distributing realized gains throughout the year the long-term capital gain distributions necessary at year end may be reduced. The distribution rate is independent of the Funds‘ performance during any particular period but is expected to correlate with the Funds‘ performance over time. You should not draw any conclusions about TTP‘s or TPZ‘s investment performance from the amount of these distributions or from the terms of TTP‘s or TPZ‘s distribution policy.

TTP and TPZ estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of the distribution may be return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TTP and TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP‘s and TPZ‘s investment performance and should not be confused with “yield” or “income”.

TTP and TPZ will report the sources for their distributions at the time of payment in the applicable Section 19(a) Notice. The amounts and sources of distributions TTP and TPZ report 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‘s and TPZ‘s investment experience during the remainder of their fiscal years and may be subject to changes based on tax regulations. TTP and TPZ will each 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 Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of Jan. 31, 2015, the adviser had approximately $16.9 billion of assets under management in NYSE-listed closed-end investment companies, open-end funds and other accounts. For more information, visit www.tortoiseadvisors.com.

Forward-Looking Statement

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the funds‘ reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

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