Nuveen Closed-End Funds Declare Monthly Distributions
December 01 2009 - 6:20PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions and high-net-worth investors, today
announced that 108 Nuveen closed-end funds had declared regular
monthly distributions. These funds represent a broad range of
tax-exempt, taxable fixed and floating rate income investment
strategies for investors seeking to build sophisticated and
diversified long-term investment portfolios for cash flow. The
funds’ monthly distributions are listed below.
Monthly distributions from Nuveen's municipal closed-end funds
and portfolios are generally exempt from regular Federal income
taxes, and monthly distributions of single-state municipal funds
and portfolios are also 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 and
portfolios may be subject to the Federal Alternative Minimum Tax
for some shareholders.
NEW PREFERRED SHARES DISTRIBUTIONS INCLUDED IN DISTRIBUTION
ANNOUNCEMENT
Additionally, the distribution declaration of the MuniFund Term
Preferred (MTP) shares of the Nuveen Insured Dividend Advantage
Municipal Fund (NVG PrC) is also listed below. Moving forward,
after the initial distribution declaration is announced for
Nuveen’s closed-end funds' MTP shares, these distributions will be
part of the larger CEF group and will appear in the monthly
distribution announcement.
Nuveen funds generally seek to pay stable distributions at rates
that reflect each fund’s past results and projected future
performance. During certain periods, each fund may pay
distributions at a rate that may be more or less than the amount of
net investment income actually earned by the fund during the
period. If a fund cumulatively earned more than it has paid in
distributions, it holds the excess in reserve as undistributed net
investment income (UNII) as part of the fund’s net asset value
(NAV). Conversely, if a fund has cumulatively paid distributions in
excess of its earnings, the excess constitutes negative UNII that
is likewise reflected in the fund’s NAV. Each fund will, over time,
pay all of its net investment income as distributions to
shareholders. The funds’ positive or negative UNII balances are
disclosed from time to time in their periodic shareholder reports,
and are also on www.nuveen.com/cef.
In addition, distributions for certain funds investing in real
estate investment trusts (REITs) may later be characterized as
capital gains and/or a return of capital, depending on the
character of the dividends reported to each fund after year-end by
REIT securities held by each fund. The Nuveen preferred securities
funds, JTP, JPS and JHP may invest in REITs; a list of funds that
are likely to be affected by re-characterization is posted to
www.nuveen.com each January, and updated tax characteristics are
posted to the web site and mailed to shareholders via form 1099-DIV
during the first quarter of the year.
Although the monthly distribution amount for JFP shown below was
established at a level that the fund expects will cause the fund’s
yearly distributions to closely match its net earnings for the
fiscal year, uncertainties about the ability of certain issuers of
securities held in that fund’s portfolio to continue to timely pay
dividends or interest scheduled or due on those securities means
that there is a chance that the fund’s net earnings for the year
will be less than the amount of dividends. If that happens, any
amount of fund dividends paid in excess of the amount of such net
earnings will be treated for tax purposes as a return of capital to
fund shareholders.
The following dates apply to today’s distribution
declarations:
Record Date December 15, 2009
Ex-Dividend Date
December 11, 2009
Payable Date December 31, 2009
Monthly Tax-Free
Distribution Per Share
Change From Amount Previous Month
Ticker
Closed-End Portfolios
NXP Select Portfolio $.0595 - NXQ Select Portfolio 2 .0555 - NXR
Select Portfolio 3 .0535 - NXC CA Select Portfolio .0555 - NXN NY
Select Portfolio .0510 -
Closed-End Funds
Non-Leveraged Funds
NUV Municipal Value .0390 - NUW Municipal Value 2 .0750 - NCA CA
Municipal Value .0380 - NNY NY Municipal Value .0355 - NMI
Municipal Income .0470 - NIM Select Maturities .0350 - NYV NY
Municipal Value 2 .0640 - NCB CA Municipal Value 2 .0690 - NJV NJ
Municipal Value .0640 - NPN PA Municipal Value .0650 -
Leveraged Funds
National
NPI Premium Income .0710 .0010 NPP Performance Plus .0760 .0040 NMA
Advantage .0810 .0050 NMO Market Opportunity .0800 .0060 NQM
Investment Quality .0750 .0050 NQI Insured Quality .0710 .0030 NQS
Select Quality .0820 .0070 NQU Quality Income .0760 .0040 NIO
Insured Opportunity .0675 .0010 NPF Premier .0700 .0040 NIF Premier
Insured .0720 .0060 NPM Premium Income 2 .0730 .0010 NPT Premium
Income 4 .0670 .0010 NPX Insured Premium 2 .0620 .0010 NAD Dividend
Advantage .0760 .0020 NXZ Dividend Advantage 2 .0800 .0020 NZF
Dividend Advantage 3 .0780 .0035 NVG Insured Dividend Advantage
.0700 - NEA Insured Tax-Free Advantage .0680 .0030 NMZ High Income
Opportunity Fund .0835 - NMD High Income Opportunity Fund 2 .0800 -
NEV Enhanced Municipal Value Fund .0760 -
California
NCP Performance Plus .0710 .0020 NCO Market Opportunity .0750 .0020
NQC Investment Quality .0730 .0010 NVC Select Quality .0790 .0040
NUC Quality Income .0800 .0050 NPC Insured Premium Income .0650
.0020 NCL Insured Premium Income 2 .0690 .0020 NCU Premium Income
.0665 .0045 NAC Dividend Advantage .0720 .0040 NVX Dividend
Advantage 2 .0790 .0030 NZH Dividend Advantage 3 .0750 .0050 NKL
Insured Dividend Advantage .0750 .0045 NKX Insured Tax-Free
Advantage .0660 .0010
New York
NNP Performance Plus .0680 .0010 NQN Investment Quality .0635 .0010
NVN Select Quality .0640 .0020 NUN Quality Income .0630 .0020 NNF
Insured Premium Income .0600 .0040 NAN Dividend Advantage .0655
.0010 NXK Dividend Advantage 2 .0665 .0010 NKO Insured Dividend
Advantage .0645 .0010 NRK Insured Tax-Free Advantage .0615 .0035
Other State Funds
NAZ AZ Premium Income .0590 .0020 NFZ AZ Dividend Advantage .0570
.0030 NKR AZ Dividend Advantage 2 .0640 .0045 NXE AZ Dividend
Advantage 3 .0620 .0030 NTC CT Premium Income .0590 .0010 NFC CT
Dividend Advantage .0640 .0040 NGK CT Dividend Advantage 2 .0650
.0030 NGO CT Dividend Advantage 3 .0600 .0040 NPG GA Premium Income
.0590 .0040 NZX GA Dividend Advantage .0640 .0030 NKG GA Dividend
Advantage 2 .0600 .0020 NMY MD Premium Income .0620 - NFM MD
Dividend Advantage .0650 .0020 NZR MD Dividend Advantage 2 .0650
.0020 NWI MD Dividend Advantage 3 .0630 .0010 NMT MA Premium Income
.0650 .0010 NMB MA Dividend Advantage .0640 .0010 NGX Insured MA
Tax-Free Advantage .0630 .0030 NUM MI Quality Income .0660 .0040
NMP MI Premium Income .0640 .0030 NZW MI Dividend Advantage .0640
.0020 NOM MO Premium Income .0570 .0010 NQJ NJ Investment Quality
.0650 .0020 NNJ NJ Premium Income .0630 .0010 NXJ NJ Dividend
Advantage .0650 .0040 NUJ NJ Dividend Advantage 2 .0680 .0030 NNC
NC Premium Income .0620 .0030 NRB NC Dividend Advantage .0690 .0010
NNO NC Dividend Advantage 2 .0680 .0040 NII NC Dividend Advantage 3
.0660 .0040 NUO OH Quality Income .0740 .0060 NXI OH Dividend
Advantage .0700 .0060 NBJ OH Dividend Advantage 2 .0690 .0060 NVJ
OH Dividend Advantage 3 .0730 .0060 NQP PA Investment Quality .0700
.0060 NPY PA Premium Income 2 .0660 .0015 NXM PA Dividend Advantage
.0690 .0030 NVY PA Dividend Advantage 2 .0700 .0010 NTX TX Quality
Income .0680 .0010 NPV VA Premium Income .0670 .0020 NGB VA
Dividend Advantage .0640 - NNB VA Dividend Advantage 2 .0660 -
Monthly Taxable
Distribution Per Share
Closed-End Funds:
Change From
Ticker
Taxable Funds
Amount Previous Month
Preferred Securities
JTP Quality Preferred Income Fund .0480 - JPS Quality Preferred
Income Fund 2 .0540 - JHP Quality Preferred Income Fund 3 .0510 -
Floating Rate: Corporate Loans
NSL Senior Income Fund .0400 .0030 JFR Floating Rate Income Fund
.0510 .0060 JRO Floating Rate Income Opportunity Fund .0620 .0070
Floating Rate: Tax Advantaged
JFP Tax-Advantaged Floating Rate Fund .0150 (.0070)
MuniFund Term Preferred
Tax-FreeDistribution Per Share
Ticker
Fund Name
Amount NVG PrC Nuveen Insured Dividend Advantage Municipal Fund
MuniFund Term Preferred Shares $.024583
Nuveen Investments provides high quality investment services
designed to help secure the long-term goals of institutions and
high net worth investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets its growing
range of specialized investment solutions under the high-quality
brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony,
Tradewinds and Winslow Capital. In total, the Company managed $141
billion of assets on September 30, 2009. For more information,
please visit the Nuveen Investments website at www.nuveen.com.
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