Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Tortoise Capital Resources Posts Higher Q1 Profit

Tortoise Capital Resources Corp. (TTO: Quote), an energy infrastructure asset financing company, reported first-quarter net income of $5.7 million or $0.63 per share, up from last year's $1.1 million or $0.12 per share.

Total revenues for the latest quarter was $3.1 million.

Total other income for the quarter was $9 million compared to $1.2 million last year.

The company noted that as of the first quarter, its most significant source of stockholder distributions continues to be the distribution from its investment securities, which it believes will support a sustainable annualized dividend of no less than $0.44 per share.

Tortoise Capital's annual meeting of Stockholders is scheduled to be held on June 6.

Click here to receive FREE breaking news email alerts for Tortoise Capital Resources Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After trending higher over the past several sessions, stocks showed a lack of direction throughout the trading day on Friday before closing roughly flat. A muted reaction to a highly anticipated speech by Federal Reserve Chair Janet Yellen contributed to the lackluster performance. Republican Scott Brown has significantly narrowed the gap in the race against incumbent New Hampshire Sen. Jeanne Shaheen, D-N.H., according to the results of a new WMUR Granite State Poll. On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.