DALLAS, Feb. 1, 2018 /PRNewswire/ — The Cushing® MLP Total Return Fund (NYSE: SRV) declared a distribution for February 2018 of $0.0903 per common share. The Fund’s distribution will be payable on February 28, 2018 to shareholders of record on February 16, 2018. The ex-date for the Fund’s distribution is February 15, 2018.
It is anticipated but not certain that approximately 100% of the Fund’s distribution will be treated as a return of capital. The final determination of such amounts will be made and reported to shareholders in early 2019, after the end of the calendar year when the Fund determines its earnings and profits for the year. The final tax status of the distribution may differ substantially from this preliminary information.
The Fund’s Board of Trustees has approved a continuation of the waiver of the Fund’s management fees, in the amount of 0.25% of the Fund’s Managed Assets, for the next twelve months, beginning as of February 1, 2018.
The Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high after-tax total return from a combination of capital appreciation and current income. The Fund seeks 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 master limited partnership (MLP) investments. The Fund is traded on the New York Stock Exchange under the symbol “SRV.”
The Fund is managed by Cushing® Asset Management, LP. No assurance can be given that the Fund’s investment objective will be achieved.
ABOUT CUSHING® ASSET MANAGEMENT, LP
Cushing, a subsidiary of Swank Capital, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies. As of December 31, 2017, Cushing had approximately $3.6 billion of assets under management in closed-end funds, mutual funds, privately offered funds and separately managed accounts.
Cushing® Asset Management, LP
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
This press release contains certain statements that may include “forward-looking