HOUSTON, July 10, 2012 /PRNewswire/ -- Salient Midstream & MLP Fund (the "Fund") (NYSE: [ SMM ]) announced today its quarterly distribution of $0.325 per share for the period May 24, 2012 to August 31, 2012. This equates to an annualized yield of 6.5% based on the $20 initial public offering price on May 24, 2012.

The distribution for the quarter ended August 31, 2012 will be payable on August 22, 2012 to common stockholders of record on August 17, 2012. It is anticipated that a significant portion of this distribution will be treated as a return of capital for tax purposes. The final determination of such amount will be made in early 2013 when the Company can determine its earnings and profits for the 2012 fiscal year. The final tax status of the distribution may differ substantially from this preliminary information.

The Fund's quarterly distribution per share[1] as of August 31, 2012 is listed below:

AMOUNT	QUARTERLY GROWTH RATE (%)	PAYABLE DATE	EX-DATE	RECORD DATE
$0.325	-	August 22, 2012	August 15, 2012	August 17, 2012

Salient Midstream & MLP Fund is a newly organized Delaware statutory trust registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. The Fund's investment objective is to provide a high level of total return with an emphasis on making quarterly cash distributions to shareholders. The Fund seeks to achieve that objective by investing at least 80% of its total assets in securities of MLPs and midstream companies. There can be no assurance that the Fund will achieve its investment objective.

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 future results to differ significantly from the Fund's 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; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. 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 objective will be attained.

[1] The amount of distributions may vary depending on a number of factors. As portfolio and market conditions change, the rate of distributions on Fund common shares could change. A portion of the Fund's returns may be comprised of ordinary income, return of capital and net realized capital gains. The Fund will determine the tax characteristics of all fund distributions after the end of the calendar year and will provide shareholders such information at that time.

CONTACT:

Chris Moon
JCPR
[ cmoon@jcprinc.com ]
973-850-7304

Salient Capital Advisors, LLC
Investor Relations
[ mlpinfo@salientpartners.com ]
800-809-0525

SOURCE Salient Midstream & MLP Fund

[ Back to top ]

Contributing Sources

Market Wire

N@N

Salient Midstream amp;; MLP Fund Announces Distribution of $0.325 per Share for the Quarter Ended August 31, 2012

Salient Midstream & MLP Fund Announces Distribution of $0.325 per Share for the Quarter Ended August 31, 2012