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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

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