DALLAS, Feb. 12 /PRNewswire-FirstCall/ -- The Cushing MLP Total Return Fund declared its quarterly dividend of $0.225 per common share for the quarter ending February 28, 2009. The dividend will be payable on March 10, 2009 to shareholders of record on February 27, 2009. The ex-date for the dividend is February 25, 2009.
It is anticipated that a portion of this dividend will be treated as a return of capital. The final determination of such amount will be made in early 2010, after the end of the calendar year when the Fund can determine its earnings and profits. The final tax status of the dividend may differ substantially from this preliminary information.
Based on our current expectations of dividends, distributions and other income from our portfolio investments, we expect to sustain the distribution of $0.225 per quarter during 2009.
The Cushing MLP Total Return Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to obtain a high after-tax total return from a combination of capital appreciation and current income. No assurance can be given that the Fund's investment objective will be achieved. The Fund will seek to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in MLP investments.
The Fund is traded on the New York Stock Exchange under the symbol "SRV." The Fund is managed by Swank Energy Income Advisors, LP, an SEC-registered Investment Advisor headquartered in Dallas, Texas.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words, "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Fund's historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Fund's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objectives will be attained.
