OVERLAND PARK, Kan. - Nov. 13, 2006 - Tortoise Energy Capital Corp. (NYSE: TYY), today declared its fourth quarter 2006 dividend of $0.39 per share, compared to $0.38 in the third quarter. The dividend will be distributed on Nov. 30, 2006 to stockholders of record on Nov. 24, 2006. This represents a 2.6 percent increase over the dividend for the prior quarter, and 4.0 percent increase over the full investment dividend of $0.375 reached in the second quarter of this year.
Based on current company financial information, this dividend is estimated to consist of 100 percent return of capital for book purposes. This is subject to change based upon completion of the company's fiscal year ending Nov. 30. For tax purposes, the character of the dividend will be determined at year-end and will be reported to stockholders at the beginning of 2007 on their Form 1099.
Conference Call to Discuss Market Conditions and Company Performance
Tortoise Capital Advisors' Managing Directors Kevin Birzer, Zachary Hamel, Kenneth Malvey, Terry Matlack and David Schulte will host a conference call for the investment community to discuss recent MLP market conditions and the company's financial and operating performance on Nov. 14, 2006, at 4:15 p.m. EDT.
To access the call, please dial either (800) 218-0204 (U.S./Canada) or (303) 262-2140 (International) approximately five to 10 minutes prior to the scheduled starting time.
The call will be webcast in a listen-only format at www.tortoiseadvisors.com where supplemental information related to the call will also be available. A transcript of the call will be posted on the site on or before Nov. 18, 2006.
A replay of the call will also be available beginning at 6:15 p.m. EDT Nov. 14, 2006 and continuing until Nov. 28, 2006, by dialing (800) 405-2236 (U.S./Canada) or (303) 590-3000 (International). The replay passcode is 11072726#. A replay of the webcast will also be available on Tortoise Capital Advisor's Web site through Nov. 14, 2007.
About Tortoise Energy Capital Corp.
Tortoise Energy Capital Corp. provides financing primarily for master limited partnerships (MLPs) in the energy infrastructure sector. Tortoise Energy Capital Corp.'s goal is to provide its stockholders with a high level of total return with an emphasis on current dividends.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC, the adviser to Tortoise Energy Capital Corp., is a pioneer in 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 August 31, 2006, the adviser had approximately $1.9 billion of energy infrastructure investment assets under management. For more information, visit our Web site at www.tortoiseadvisors.com.
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.
Tortoise Capital Advisors, LLC
Pam Kearney, Investor Relations,