Salient MLP & Energy Infrastructure Fund Announces Net Asset Value as of July 31, 2014 and Announces Third Quarter 2014 Dividend of $0.47 per Share

HOUSTON, Aug. 5, 2014 /PRNewswire/ -- Salient MLP & Energy Infrastructure Fund (the "Fund") (NYSE: SMF) announced today its net asset value (NAV) as of July 31, 2014. The Fund also announced that it had increased its dividend by 1.1% year-over-year for the third quarter ended August 31, 2014, which is the twelfth consecutive quarter that the Fund has increased its quarterly dividend.

As of July 31, 2014, the Fund's net assets were $251.8 million and the NAV per share was $35.06. On July 31, 2014, the closing share price of the Fund was $33.20, which was trading at a 5.3% discount to the NAV.

The Fund increased its quarterly dividend to $0.47 per share for the quarter ending August 31, 2014. The increased dividend will be payable on August 29, 2014 to common stockholders of record on August 19, 2014. It is anticipated that this dividend will be comprised of both return of capital and ordinary income 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 2015 when the Fund can determine its earnings and profits for the 2014 fiscal year.

The Fund's quarterly distributions per share over the past year as of July 31, 2014 are listed below:[1]

[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.

The Fund was invested as shown in the pie chart below as of July 31, 2014.

Photo - http://photos.prnewswire.com/prnh/20140805/133616

For illustrative purposes only.
 Source: Salient Capital Advisors, LLC, July 31, 2014.

Also, as of July 31, 2014, the Fund's 10 largest consolidated holdings were:[2]

[2] Fund shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. Data are based on total market value of Fund investments unless otherwise indicated. The data provided are for informational purposes only and are not intended for trading purposes.

The Fund's consolidated unaudited balance sheet as of July 31, 2014, is shown below:

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 its common 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

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SOURCE Salient MLP & Energy Infrastructure Fund