Plus   Neg

Tortoise Capital Resources Posts Higher Q1 Profit

Tortoise Capital Resources Corp. (TTO), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Saudi Arabia's oil major Aramco is reportedly planning to list its much hyped initial public offering on the Saudi stock market, Tadawu only. Earlier, the Dhahran-based Saudi Arabian national petroleum company was planning for a wider international listing. Following a disastrous week of public-relations fiascoes involving transportation of pets, United Airlines said Tuesday it is suspending its Petsafe program with immediate effect. PetSafe is United Airlines' specially designed program for transporting animals that are not eligible to travel in the aircraft cabin. The program offers airport-to-airport travel for animals to nearly 300 destinations. Chipotle Mexican Grill, the Mexican food-chain that continues to struggle from its food-borne illness scandal, on Tuesday said it has appointed Chris Brandt as its new Chief Marketing Officer to replace Mark Crumpacker, who resigned last week. Most recently, Brandt worked at Bloomin' Brands, where...
comments powered by Disqus
Follow RTT