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Kayne Anderson MLP Investment Company Announces Impact of Tax Reform on its Net Asset Value

Kayne Anderson Mlp/Midstream Invest Co (KYN)  More Company Research Source: GlobeNewswire
US:NYSE Investor Relations: kaynefunds.com/kyn/fact-sheet
PDF HOUSTON, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN) announced today that the Tax Cut and Jobs Act (the “Tax Reform Bill”) had a positive impact on the Company’s net asset value.  As of December 22, 2017, the Company’s net asset value per share was $18.57, which included an increase of $1.84 (11.0%) as a result of the enactment of the Tax Reform Bill today. Prior to enactment of the Tax Reform Bill, the Company’s deferred tax liability was based on the federal tax rate of 35% plus a blended state rate.  The Tax Reform Bill cut the federal rate to 21%, significantly reducing the Company’s deferred tax liability and resulting in the increase to net asset value. The lower rate of 21% plus a blended state rate will also be used to value the Company’s deferred tax liability going forward. Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Compan [Read more]

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