Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that several closed-end funds declared regular monthly distributions. These funds represent investment strategies for investors seeking diversified sources of cash flow to prepare for and sustain their retirement income needs. For further information regarding fund distributions including earnings, undistributed net investment income, and notices please visit http://www.nuveen.com/cef.
The following dates apply to today's monthly distribution declarations for the following tax-exempt and taxable closed-end funds:
Record Date | June 15, 2015 | |
Ex-Dividend Date | June 11, 2015 | |
Payable Date | July 1, 2015 | |
Reinvest Date | July 1, 2015 | |
Monthly Tax-Exempt Municipal Closed-End Fund Distributions
Monthly distributions from Nuveen's municipal bond closed-end funds are generally exempt from regular Federal income taxes, and monthly distributions of single-state municipal funds are also generally exempt from state and, in some cases, local income taxes for in-state residents. Unless otherwise stated in the funds' objectives, monthly distributions of the municipal funds may be subject to the Federal Alternative Minimum Tax for some shareholders.*
Monthly Distribution Per Share | ||||||||
Change From | ||||||||
Ticker | Exchange | Fund Name | Amount | Previous Month | ||||
NXP | NYSE | Select Tax-Free Income Portfolio | $.0475 | - | ||||
NXQ | NYSE | Select Tax-Free Income Portfolio 2 | $.0445 | (.0015) | ||||
NXR | NYSE | Select Tax-Free Income Portfolio 3 | $.0470 | (.0020) | ||||
NUV | NYSE | Municipal Value Fund | $.0325 | (.0020) | ||||
NUW | NYSE | AMT-Free Municipal Value Fund | $.0650 | - | ||||
NMI | NYSE | Municipal Income Fund | $.0415 | (.0010) | ||||
NIM | NYSE | Select Maturities Municipal Fund | $.0275 | - | ||||
Leveraged Funds | ||||||||
National | ||||||||
NPI | NYSE | Premium Income Municipal Fund | $.0685 | - | ||||
NPP | NYSE | Performance Plus Municipal Fund | $.0730 | (.0040) | ||||
NMA | NYSE | Municipal Advantage Fund | $.0660 | - | ||||
NMO | NYSE | Municipal Market Opportunity Fund | $.0635 | (.0035) | ||||
NQI | NYSE | Quality Municipal Fund | $.0570 | .0020 | ||||
NQS | NYSE | Select Quality Municipal Fund | $.0665 | - | ||||
NQU | NYSE | Quality Income Municipal Fund | $.0685 | - | ||||
NIO | NYSE | Municipal Opportunity Fund | $.0730 | - | ||||
NPF | NYSE | Premier Municipal Income Fund | $.0685 | - | ||||
NPM | NYSE | Premium Income Municipal Fund 2 | $.0720 | - | ||||
NPT | NYSE | Premium Income Municipal Fund 4 | $.0680 | - | ||||
NEA | NYSE | AMT-Free Municipal Income Fund | $.0645 | (.0040) | ||||
NAD | NYSE | Dividend Advantage Municipal Fund | $.0710 | (.0030) | ||||
NXZ | NYSE MKT | Dividend Advantage Municipal Fund 2 | $.0680 | - | ||||
NZF | NYSE MKT | Dividend Advantage Municipal Fund 3 | $.0665 | .0025 | ||||
NVG | NYSE MKT | Dividend Advantage Municipal Income Fund | $.0630 | .0020 | ||||
NMZ | NYSE MKT | Municipal High Income Opportunity Fund | $.0760 | - | ||||
NEV | NYSE | Enhanced Municipal Value Fund | $.0800 | - | ||||
NID | NYSE | Intermediate Duration Municipal Term Fund | $.0570 | - | ||||
NIQ | NYSE | Intermediate Duration Quality Municipal Term Fund | $.0495 | - | ||||
NQM | NYSE | Investment Quality Municipal Fund | $.0820 | - | ||||
California | ||||||||
NAC | NYSE | CA Dividend Advantage Municipal Fund | $.0760 | (.0040) | ||||
NKX | NYSE | CA AMT-Free Municipal Income Fund | $.0720 | - | ||||
NCA | NYSE | CA Municipal Value Fund | $.0390 | - | ||||
NVX | NYSE MKT | CA Dividend Advantage Municipal Fund 2 | $.0700 | - | ||||
NZH | NYSE MKT | CA Dividend Advantage Municipal Fund 3 | $.0670 | - | ||||
NXC | NYSE | CA Select Tax-Free Income Portfolio | $.0545 | (.0025) | ||||
NCB | NYSE MKT | CA Municipal Value Fund 2 | $.0650 | - | ||||
New York | ||||||||
NRK | NYSE | NY AMT-Free Municipal Income Fund | $.0585 | (.0025) | ||||
NXN | NYSE | NY Select Tax-Free Income Portfolio | $.0460 | - | ||||
NNY | NYSE | NY Municipal Value Fund | $.0325 | - | ||||
NYV | NYSE MKT | NY Municipal Value Fund 2 | $.0525 | - | ||||
Other State Funds | ||||||||
NAZ | NYSE | AZ Premium Income Municipal Fund | $.0665 | - | ||||
NTC | NYSE | CT Premium Income Municipal Fund | $.0570 | - | ||||
NKG | NYSE | GA Dividend Advantage Municipal Fund 2 | $.0535 | - | ||||
NMT | NYSE | MA Premium Income Municipal Fund | $.0590 | - | ||||
NMY | NYSE | MD Premium Income Municipal Fund | $.0555 | - | ||||
NUM | NYSE | MI Quality Income Municipal Fund | $.0640 | (.0035) | ||||
NMS | NYSE | MN Municipal Income Fund | $.0690 | - | ||||
NOM | NYSE MKT | MO Premium Income Municipal Fund | $.0610 | - | ||||
NNC | NYSE | NC Premium Income Municipal Fund | $.0490 | - | ||||
NXJ | NYSE | NJ Dividend Advantage Municipal Fund | $.0680 | - | ||||
NJV | NYSE MKT | NJ Municipal Value Fund | $.0490 | (.0010) | ||||
NUO | NYSE | OH Quality Income Municipal Fund | $.0700 | - | ||||
NQP | NYSE | PA Investment Quality Municipal Fund | $.0690 | - | ||||
NPN | NYSE MKT | PA Municipal Value Fund | $.0520 | - | ||||
NTX | NYSE | TX Quality Income Municipal Fund | $.0545 | - | ||||
NPV | NYSE | VA Premium Income Municipal Fund | $.0610 | - | ||||
Monthly Taxable Closed-End Fund Distributions | ||||||||
Monthly Taxable Distribution Per Share | ||||||||
Change From | ||||||||
Ticker | Exchange | Fund Name | Amount | Previous Month | ||||
Preferred Securities | ||||||||
JTP | NYSE | Quality Preferred Income Fund | $.0550 | - | ||||
JPS | NYSE | Quality Preferred Income Fund 2 | $.0580 | - | ||||
JHP | NYSE | Quality Preferred Income Fund 3 | $.0560 | - | ||||
JPC | NYSE | Preferred Income Opportunities Fund | $.0670 | .0015 | ||||
JPI | NYSE | Preferred and Income Term Fund | $.1625 | .0030 | ||||
Floating Rate: Corporate Loans | ||||||||
NSL | NYSE | Senior Income Fund | $.0350 | - | ||||
JFR | NYSE | Floating Rate Income Fund | $.0600 | - | ||||
JRO | NYSE | Floating Rate Income Opportunity Fund | $.0630 | - | ||||
JSD | NYSE | Short Duration Credit Opportunities Fund | $.0970 | - | ||||
JQC | NYSE | Credit Strategies Income Fund | $.0500 | .0015 | ||||
Mortgage-Backed Securities | ||||||||
JMM | NYSE | Multi-Market Income Fund | $.0400 | - | ||||
Taxable Municipal | ||||||||
NBB | NYSE | Build America Bond Fund | $.1120 | (.0040) | ||||
NBD | NYSE | Build America Bond Opportunity Fund | $.1085 | (.0055) | ||||
Global Equity | ||||||||
JGH | NYSE | Global High Income Fund | $.1320 | - | ||||
Monthly Cash-Flow-Based Closed-End Fund Distributions
Each of the four taxable funds listed immediately below have adopted a cash-flow based distribution program. Potential distribution sources include net investment income, realized gains and return of capital. If a distribution includes anything other than net investment income, the fund provides a notice of the estimate of its distribution sources at the time of payment which may be viewed at: www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization contained in shareholders’ 1099-DIV forms after the end of the year.
Under a cash-flow based distribution approach, each fund seeks to maintain a stable regular distribution amount based on the fund’s net cash flow received from portfolio investments. Fund distributions are not intended to include expected portfolio appreciation; each fund may invest in securities which have cash flow that ultimately may be fully or partially treated as gains or return of capital for tax purposes. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate.
The following dates apply to today's monthly cash-flow based distribution declarations and quarterly distributions for the following closed-end funds:
Record Date | June 15, 2015 | ||||||||
Ex-Dividend Date | June 11, 2015 | ||||||||
Payable Date | July 1, 2015 | ||||||||
Reinvest Date | July 1, 2015 | ||||||||
Monthly Distribution Per Share | |||||||||
Change From | |||||||||
Ticker | Exchange | Fund Name | Amount | Previous Month | |||||
Preferred Securities | |||||||||
JPW | NYSE | Flexible Investment Income Fund | $.1260 | - | |||||
Mortgage-Backed Securities | |||||||||
JLS | NYSE | Mortgage Opportunity Term Fund | $.1265 | - | |||||
JMT | NYSE | Mortgage Opportunity Term Fund 2 | $.1275 | - | |||||
Real Assets | |||||||||
JRI | NYSE | Real Asset Income and Growth Fund | $.1345 | - | |||||
Quarterly Taxable Closed-End Fund Distributions
The goal of a fund’s managed distribution program is to provide shareholders relatively consistent and predictable cash flow by systematically converting its expected long-term return potential into regular distributions. As a result, potential distribution sources for regular distributions throughout the year include realized gains and return of capital, in addition to net investment income. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.
Under a Managed Distribution policy, each of the five funds listed immediately below seeks to maintain an attractive and stable regular distribution amount that, over the long term, matches the fund’s total distributions paid to its total return. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate. Actual returns likely will differ from projected long-term returns (and therefore a fund’s distribution rate), at least over shorter time periods. Over a specific timeframe, the difference between actual returns and total distributions will be reflected in an increasing (returns exceed distributions) or a decreasing (distributions exceed returns) fund net asset value.
- A return of capital is a non-taxable distribution of a portion of the fund’s capital. When fund returns exceed distributions, return of capital may represent portfolio gains earned, but not realized as a taxable capital gain. In periods when fund returns fall short of distributions, it will represent a portion of your original principal unless the shortfall is offset during other time periods over the life of your investment (previous or subsequent) when the fund’s total return exceeds distributions.
- For additional information about managed distributions, please see Understanding Managed Distributions.
Quarterly Taxable Distribution Per Share | ||||||||
Change From | ||||||||
Ticker | Exchange | Closed-End Funds: | Amount | Previous Quarter | ||||
Global Equity | ||||||||
JGV | NYSE | Global Value Opportunities Fund | $.2520 | - | ||||
Equity | ||||||||
JTA | NYSE | Tax-Advantaged Total Return Strategy Fund | $.2720 | - | ||||
JTD | NYSE | Tax-Advantaged Dividend Growth Fund | $.3230 | - | ||||
JCE | NYSE | Core Equity Alpha Fund | $.3030 | - | ||||
Equity Option | ||||||||
DIAX | NYSE | Dow 30SM Dynamic Overwrite Fund | $.2660 | - | ||||
BXMX | NYSE | S&P 500 Buy-Write Income Fund | $.2490 | - | ||||
QQQX | NYSE | NASDAQ 100 Dynamic Overwrite Fund | $.3500 | - | ||||
SPXX | NYSE | S&P 500 Dynamic Overwrite Fund | $.2610 | - | ||||
Multi-Strategy | ||||||||
JDD | NYSE | Diversified Dividend and Income Fund | $.2700 | - | ||||
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC, all of which are registered investment advisers and independent investment subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments operates as a separate subsidiary within TIAA-CREF, which is a leading provider of retirement and financial services in the academic, research, medical and cultural fields. In total, Nuveen Investments managed approximately $233 billion as of March 31, 2015. For more information, please visit the Nuveen Investments website at www.nuveen.com.
* Nuveen does not provide tax advice; consult a professional tax advisor regarding your specific tax situation.
8345-INV-O-05/16
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Contacts:
Media Contact:
Kristyna Munoz
(312)
917-8343
kristyna.munoz@nuveen.com