Tortoise
Capital Resources Corp. Announces Distribution Increase
FOR
IMMEDIATE RELEASE
OVERLAND
PARK,
Kan. –
May 12, 2008 – The Board of Directors of Tortoise Capital
Resources Corp. (NYSE:
TTO), today declared the company’s second quarter 2008 distribution of $0.2625
per share compared to $0.25 in the previous quarter. The distribution will
be
paid on June 2, 2008 to stockholders of record on May 22, 2008. A
portion of this distribution is expected to be treated as return of capital
for
income tax purposes, although the ultimate determination will not be made
until
determination of our earnings and profits after our year-end. Based
on current financial information, this distribution is estimated to consist
of
100 percent return of capital for book purposes.
“We
are
pleased to deliver on our expectation of a seven percent distribution rate
based
upon the initial $15.00 offering price,” said Tortoise Capital Resources Corp.
President, Ed Russell. “We are encouraged with the growing
distributions from many of our portfolio companies.”
About
Tortoise Capital Resources Corp.
Tortoise
Capital Resources Corp. invests primarily in privately-held and micro-cap
public
companies operating in the midstream and downstream segments, and to a lesser
extent the upstream segment of the U.S. energy infrastructure sector. Tortoise
Capital Resources Corp. seeks to provide stockholders a high level of total
return, with an emphasis on distributions and distribution growth.
About
Tortoise Capital Advisors
Tortoise
Capital Advisors, LLC 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 sector. As of April
30, 2008, the adviser had approximately $2.8 billion of 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
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.
Contact
information:
Tortoise
Capital Advisors, LLC
Pam
Kearney, Investor Relations, (866) 362-9331,
pkearney@tortoiseadvisors.com