OVERLAND PARK, Kan. - August 13, 2007 -- The Board of Directors of Tortoise Energy Capital Corp. (NYSE: TYY) today declared the company's third quarter 2007 dividend of $0.41 per share, compared to $0.405 in the previous quarter and $0.38 in the same quarter of the prior year. The dividend will be distributed on Sept. 4, 2007 to stockholders of record on Aug. 23, 2007. This represents a 1.2 percent increase over the distribution for the prior quarter and a 7.9 percent increase over the same quarter of the prior year.
For tax purposes, the character of the dividend will be determined at year-end and will be reported to stockholders at the beginning of 2008 on their Form 1099. Based on current company financial information, a significant portion of this dividend is estimated to consist of return of capital for book purposes. This is subject to change based upon completion of the company's fiscal year.
About Tortoise Energy Capital Corp.
Tortoise Energy Capital Corp. provides financing for master limited partnerships (MLPs) in the energy infrastructure sector, focusing on crude oil and refined petroleum products MLPs and natural gas and natural gas liquids pipelines MLPs. Tortoise Energy Capital Corp. seeks to provide its stockholders a high level of total return with an emphasis on current dividends.
About Tortoise Capital Advisors, LLC
Tortoise Capital Advisors, LLC, the adviser to Tortoise Energy Capital Corp., is a pioneer in the capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy infrastructure sector. As of July 31, 2007, the adviser had over $3.1 billion of energy assets under management.
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 the 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. Investors should consider the investment objective, risks, charges and expenses of the fund carefully before investing. For this and other important information, investors should refer to the closed-end fund prospectus and read it carefully before investing.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, firstname.lastname@example.org