logo
Share SHARE
FONT-SIZE 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
British drug maker AstraZeneca Plc reported Friday higher profit in its first quarter, reflecting lower charges and higher revenues. US and emerging markets performed well. Looking ahead, for fiscal 2016, the company continues to expect both revenue and earnings per share to decline a low to mid single-digit percentage at constant exchange rates. International Consolidated Airlines Group S.A. Friday reported profit for the first quarter, compared to loss in the prior year, mainly reflecting higher passenger revenues and increased capacity. For fiscal 2016, IAG still expects to generate an absolute operating profit increase similar to 2015 as it expects to reduce underlying ex-fuel unit costs by around one percent. French drug maker Sanofi reported Friday a higher profit in its first quarter, while net sales were hurt mainly by weak results in Diabetes unit and Venezuela. Excluding Venezuela. Aggregate Group sales increased 3 percent at constant exchange rates. Looking ahead, the company continues to expect 2016 business earnings per share to be broadly stable at CER.
comments powered by Disqus
Follow RTT