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
Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion. Regulators have confirmed the eleventh U.S. fatality linked to Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration or NHTSA said Thursday that a crash fatality in Riverside County, California, was tied to the rupture of a recalled Takata air bag inflator. Reynolds American Inc. (RAI) on Friday confirmed that British American Tobacco plc (BATS.L, BTI) has offered to buy the remaining 57.8 percent stake that it does not own in the US tobacco company for $47 billion. Reynolds said its board of directors will evaluate the offer, and respond accordingly to BAT, which currently owns 42.2 percent stake in Reynolds. The proposal represents an enterprise va
comments powered by Disqus
Follow RTT