Salient MLP & Energy Infrastructure Fund Announces Net Asset Value as of April 30, 2012 and Announces Second Quarter 2012 Dividend of $0.43 per Share Up 2.4% Sequentially

HOUSTON, May 4, 2012 /PRNewswire/ -- Salient MLP & Energy Infrastructure Fund (the "Fund") (NYSE: SMF) announced today its net asset value (NAV) as of April 30, 2012 had increased its second quarter 2012 dividend by 2.4% sequentially for the quarter ended May 31, 2012.

As of April 30, 2012, the Fund's net assets were $159.3 million and the NAV per share was $25.96, compared with December 31, 2011, when the net assets were $156.2 million and the NAV per share was $25.46. 

On April 30, 2012, the closing share price of the Fund was $26.02, which was trading at a 0.2% premium to the NAV.

The Fund increased its quarterly dividend to $0.43 per share for the quarter ending April 30, 2012, which represents a 2.4% sequential increase over the $0.42 paid in the previous quarter. The increased dividend will be payable on May 22, 2012 to common stockholders of record on May 17, 2012. It is anticipated that the majority portion of this dividend will be treated as a return of capital for tax purposes. The final tax status of the dividend may differ substantially from this preliminary information, and the final determination of such amount will be made in early 2013 when the Fund can determine its earnings and profits for the 2012 fiscal year.

The Fund's quarterly distributions per share as of April 30, 2012 are listed below:[1]

Past performance is no guarantee of future results.

[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.  

Also as of April 30, 2012, the Fund's 10 largest consolidated holdings were:

The Fund's consolidated unaudited balance sheet as of April 30, 2012, is shown below:

Past performance is no guarantee of future results.

Salient MLP & Energy Infrastructure Fund is a 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 energy infrastructure 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.

CONTACT:

Chris Moon
JCPR
[email protected]
973-850-7304

Salient Capital Advisors, LLC
Investor Relations
[email protected]
800-809-0525

SOURCE Salient MLP & Energy Infrastructure Fund