News Article | May 1, 2015
LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of April 30, 2015, the company’s unaudited total assets were approximately $2.2 billion and its unaudited net asset value was $1.3 billion, or $28.11 per share. As of April 30, 2015, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 431 percent, and its coverage ratio for preferred shares was 356 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus. Set forth below is a summary of the company’s unaudited balance sheet at April 30, 2015 and a summary of its top 10 holdings. NDP, NTG, TPZ, TTP and TYG will host a combined annual stockholders’ meeting on May 18, 2015 at 10 a.m. CDT at 11550 Ash Street, Suite 300, Leawood, Kan. It will be a business meeting focused specifically on voting matters. Those unable to attend the meeting can join via conference call by dialing (877) 407-9210. A replay of the call will be available by dialing 877-660-6853 (Conference ID # 13602447) until Aug. 18, 2015. Tortoise MLP Fund, Inc. owns a portfolio of master limited partnership (MLP) investments in the energy infrastructure sector, with an emphasis on natural gas infrastructure MLPs. Tortoise MLP Fund, Inc.’s objective is to provide its stockholders a high level of total return with an emphasis on current distributions. Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of March 31, 2015, the adviser had approximately $17.4 billion of assets under management in NYSE-listed closed-end funds, open-end funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com. 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. 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 Company and Tortoise Capital Advisors believe 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 Company's 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 Company and Tortoise Capital Advisors do not assume a duty to update any forward-looking statement.
"Tropical Storm Gaston, the seventh tropical storm of the season, is strengthening and is expected to become a hurricane by Wednesday, the U.S. National Hurricane Center (NHC) said on Tuesday." "Hermine may brew in Atlantic following birth of Tropical Storm Gaston" (AccuWeather)
News Article | March 8, 2016
A study of Spanish shipwrecks and tree-ring records revealed the period from 1645 to 1715 had the fewest hurricanes in the Caribbean, since 1500. The research was the first to utilize shipwrecks as a hurricane activity substitute. The University of Arizona-led study found that the period, also know as the Maunder Minimum, had the fewest numbers of Caribbean hurricanes - a 75 percent reduction. Lead study author Valerie Trouet explained that by fusing shipwrecks and tree-ring data, they were able to study past hurricane records and advance the information on hurricane variability. According to global climate models, hurricanes will become more intense with climate change. However, the current models have yet to make reliable regional hurricane predictions. Analyzing hurricane and climate correlations in the last 500 years could aid in predicting regional hurricanes better. "We found that in the years when many ships wrecked in the Caribbean, the trees in Florida Keys showed the same signal that trees show during hurricanes," said Trouet, an associate professor from the University of Arizona's Laboratory of Tree-Ring Research. The U.S. National Hurricane Center only started recording Caribbean hurricanes in 1850. The research team studied lake sediments to create hurricane records in the past centuries, going all the way back to 1500. Sea travel on the Caribbean became a routine for Spain, this is why it had detailed records of ship travels. Storms accounted for many of the shipwrecks in the Caribbean. Florida Keys' tree-ring records extend all the way back to the 1707. These tree-rings show when there is a hurricane in a particular year, because the ring growth slowed down whenever one occurs. The team gathered wood samples from shipwrecks and began dating them. The team used two books in the study to combine shipwreck data with tree-rings data, namely "Shipwrecks In The Americas: A Complete Guide To Every Major Shipwreck In The Western Hemisphere" by Robert F. Marx and "Shipwrecks Of Florida: A Comprehensive Listing" by Steven D. Singer. The team combined ship logs and detail records from the two books to compile a comprehensive list of Spanish shipwrecks from 1495 to 1825. When combined with the Florida Key's tree-ring data from 1707 to 1825, they discovered that the figures matched. They also compared the data to the hurricane records from 1850 to 2009, and found that the figures and patterns also match. The research was published in the journal Proceedings of the National Academy of Sciences on Monday. It is important to study the relationship between climate change and hurricane variability as it could help in better emergency planning. Hurricanes from 1970 to 2002 in the U.S. alone have an accumulated damage that costs about $57 billion in 2015 dollar rates.
News Article | September 14, 2016
(Reuters) - A low pressure system near Cape Verde Islands has 70 percent chance of developing into a tropical cyclone in the next couple of days, the U.S. National Hurricane Center said on Wednesday.
News Article | August 31, 2016
(Reuters) - Tropical Depression Eight, now moving away from the North Carolina coast, could strengthen into a tropical storm on Wednesday, the U.S. National Hurricane Center said.