Eight Nuveen National Municipal Closed-End Funds Declare Pre-Merger Distributions
March 29 2016 - 5:41PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced distributions for eight national municipal closed-end
funds. The specific distribution dates and amounts are detailed
below. As previously announced, the shareholders of these funds
approved the reorganization of the funds into two, larger funds
with distinct investment mandates.
The following dates apply to distribution declarations for
the following Closed-End Funds:
Record Date April 8, 2016
Ex-Dividend Date April 6, 2016 Payable Date
May 2, 2016 Reinvest Date May 2, 2016
Per Share Distribution
Amount Tax-Exempt Long-Term Ticker
Fund Name Income Capital
Gain NPT Premium Income Municipal Fund 4, Inc. $.1024 - NXZ
Dividend Advantage Municipal Fund 2 $.0614 - NMA Municipal
Advantage Fund, Inc. $.0122 - NIO Municipal Opportunity Fund, Inc.
$.0660 $.0073 NQI Quality Municipal Fund, Inc. $.0766 - NQU Quality
Income Municipal Fund, Inc. $.0548 - NZF Dividend Advantage
Municipal Fund 3 $.0131 - NVG Dividend Advantage Municipal
Income Fund $.0504 -
Regulations require that acquired funds in any reorganization
fully distribute any accumulated undistributed net investment
income (UNII) prior to effecting the reorganization. A portion of
the distribution for NIO will be comprised of long-term capital
gains under the Internal Revenue Code.
Following the merger, the acquiring funds, Nuveen Dividend
Advantage Municipal Income Fund (NVG) and Nuveen Dividend Advantage
Municipal Fund 3 (NZF), are expected to declare additional
distributions, payable May 2, 2016. The total dollar amount of the
pre- and post-merger tax-exempt distributions received on May 2,
2016 will be equal to or greater than the shareholder’s prior
monthly tax-exempt dividend.
For more information about UNII, each fund, and the
shareholder-approved reorganization, please visit
http://www.nuveen.com/CEF.
Nuveen provides investment solutions designed to help secure the
long-term goals of individual investors and the financial advisors
who serve them. Through the expertise and capabilities of its
high-caliber investment managers, the firm is committed to
providing world-class consultative services and advice that align
with client needs. Nuveen Investments is an operating division of
TIAA Global Asset Management. In total, Nuveen Investments managed
approximately $225 billion as of December 31, 2015. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
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 statements.
14868-INV-O-03/17
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version on businesswire.com: http://www.businesswire.com/news/home/20160329006588/en/
Nuveen InvestmentsMedia Contact:Kristyna Munoz, (312)
917-8343kristyna.munoz@nuveen.com
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