Nuveen Closed-End Funds Declare Pre-Reorganization Distributions
February 23 2021 - 4:15PM
Business Wire
Three Nuveen Closed-End Funds announced pre-reorganization
distributions. The specific distribution dates and amounts are
detailed below. As previously announced, shareholders of the Nuveen
New Jersey Municipal Value Fund (NYSE: NJV) and shareholders of the
Nuveen Pennsylvania Municipal Value Fund (NYSE: NPN) have approved
the funds’ reorganization into the Nuveen AMT-Free Municipal Value
Fund (NYSE: NUW). Additionally, shareholders of the Nuveen
California Municipal Value Fund, Inc. (NYSE: NCA) have approved a
change of domicile reorganization from a Minnesota corporation to a
Massachusetts business trust. Upon completion of the change of
domicile, NCA will become Nuveen California Municipal Value Fund.
Shareholders of the Nuveen California Municipal Value Fund 2 (NYSE:
NCB) also have approved the fund’s reorganization into NCA. The
pre-reorganization distribution for each fund being acquired is
intended to fully distribute the acquired fund’s accumulated
undistributed net investment income (UNII) prior to the
reorganization going effective.
As previously announced, following the transactions, each of the
surviving funds, NUW and NCA, is expected to declare an additional
post-closing distribution, with a record date of March 18, 2021,
payable April 1, 2021. For each fund, the total per-common share
dollar amount of the pre- and post-closing tax-exempt distributions
received on April 1, 2021 will be equal to or greater than the
per-common share dollar amount of the prior month’s tax-exempt
dividend.
The following dates apply to today's pre-reorganization
distribution declarations:
Record Date
March 5, 2021
Ex-Dividend Date
March 4, 2021
Payable Date
April 1, 2021
Per Share Distribution
Ticker
Exchange
Fund Name
Tax-Exempt Income
Long-Term Capital Gain
NUW
NYSE
Nuveen AMT-Free Municipal Value Fund
$0.0028
$0.0000
NJV
NYSE
Nuveen New Jersey Municipal Value Fund
$0.0000
$0.0000
NPN
NYSE
Nuveen Pennsylvania Municipal Value
Fund
$0.0000
$0.0000
NCA
NYSE
Nuveen California Municipal Value Fund,
Inc.
$0.0180
$0.0000
NCB
NYSE
Nuveen California Municipal Value Fund
2
$0.0215
$0.0771
For more information about UNII, each fund and the
shareholder-approved reorganizations, please visit
www.nuveen.com/CEF.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $1.2 trillion in assets under management as
of 31 Dec 2020 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking
statements. Actual future results or occurrences may differ
significantly from those anticipated in any forward-looking
statements due to numerous factors. These include, but are not
limited to:
• market developments;
• legal and regulatory developments; and
• other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its
affiliates undertake no responsibility to update publicly or revise
any forward-looking statement.
EPS-1536511PR-E0221X
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