Nuveen Closed-End Funds Declare Monthly Distributions
July 01 2009 - 4:22PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions and high-net-worth investors, today
announced that 111 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.
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.
JFP, the Nuveen Tax-Advantaged Floating Rate Fund, has
implemented a managed distribution policy which permits it to
include as part of its monthly distributions supplemental amounts
from sources other than net investment income. This fund currently
expects that any supplemental amounts would represent anticipated
portfolio price appreciation over time once financial market
conditions stabilize and prospects begin to improve for the middle
market financial companies in which the fund primarily invests.
Because the timing and extent of any such recovery is presently
difficult to assess in light of continued market volatility and the
negative effects on financial companies of the on-going credit
crisis, the fund�s latest monthly distribution is estimated to
contain only net investment income and does not include any
supplemental amounts.
Because a managed distribution program permits regular
distributions from sources other than net investment income, it is
important to understand the components of a managed distribution
and the fund's NAV performance relative to its distribution rate.
JFP posts information and estimates on www.nuveen.com/cef regarding
the sources of distributions and total return performance over
various time periods. In addition, at least in any month in which
fund distributions include supplemental amounts from sources other
than net investment income, the fund will also send this
information directly to shareholders. Estimates are for
informational purposes only, and the final determination of the
source and tax characteristics of all distributions paid in 2009
will be made in early 2010 and reported to shareholders on Form
1099-DIV at that time.
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.
The following dates apply to today�s distribution
declarations:
Record Date � � �
July 15, 2009 Ex-Dividend
Date July 13, 2009 Payable Date August 3,
2009 � � � � Monthly Tax-Free Distribution Per Share Amount � �
Change From Previous Month
Ticker
Closed-End Portfolios
� � NXP Select Portfolio $.0570 - 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 .0445 - 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 .0680 - NPP Performance Plus .0680 - NMA
Advantage .0715 - NMO Market Opportunity .0690 - NQM Investment
Quality .0635 - NQI Insured Quality .0625 - NQS Select Quality
.0740 - NQU Quality Income .0685 - NIO Insured Opportunity .0605 -
NPF Premier .0630 - NIF Premier Insured .0635 - NPM Premium Income
2 .0690 - NPT Premium Income 4 .0615 - NPX Insured Premium 2 .0595
- NAD Dividend Advantage .0715 - NXZ Dividend Advantage 2 .0730 -
NZF Dividend Advantage 3 .0735 - NVG Insured Dividend Advantage
.0645 - NEA Insured Tax-Free Advantage .0620 - NMZ High Income
Opportunity Fund .0835 - NMD High Income Opportunity Fund 2 .0800 -
California
NCP Performance Plus .0655 - NCO Market Opportunity .0675 - NQC
Investment Quality .0685 - NVC Select Quality .0710 - NUC Quality
Income .0735 - NPC Insured Premium Income .0615 - NCL Insured
Premium Income 2 .0650 - NCU Premium Income .0570 - NAC Dividend
Advantage .0665 - NVX Dividend Advantage 2 .0695 - NZH Dividend
Advantage 3 .0675 - NKL Insured Dividend Advantage .0695 - NKX
Insured Tax-Free Advantage .0630 -
Florida
NQF Investment Quality .0610 - NUF Quality Income .0550 - NFL
Insured Premium Income .0575 - NWF Insured Tax-Free Advantage .0540
-
New York
NNP Performance Plus .0645 - NQN Investment Quality .0615 - NVN
Select Quality .0595 - NUN Quality Income .0590 - NNF Insured
Premium Income .0550 - NAN Dividend Advantage .0635 - NXK Dividend
Advantage 2 .0645 - NKO Insured Dividend Advantage .0620 - NRK
Insured Tax-Free Advantage .0545 -
Other State Funds
NAZ AZ Premium Income .0540 - NFZ AZ Dividend Advantage .0525 - NKR
AZ Dividend Advantage 2 .0585 - NXE AZ Dividend Advantage 3 .0545 -
NTC CT Premium Income .0535 - NFC CT Dividend Advantage .0570 - NGK
CT Dividend Advantage 2 .0590 - NGO CT Dividend Advantage 3 .0510 -
NPG GA Premium Income .0525 - NZX GA Dividend Advantage .0560 - NKG
GA Dividend Advantage 2 .0530 - NMY MD Premium Income .0580 - NFM
MD Dividend Advantage .0600 - NZR MD Dividend Advantage 2 .0600 -
NWI MD Dividend Advantage 3 .0580 - NMT MA Premium Income .0610 -
NMB MA Dividend Advantage .0600 - NGX Insured MA Tax-Free Advantage
.0565 - NUM MI Quality Income .0585 - NMP MI Premium Income .0565 -
NZW MI Dividend Advantage .0565 - NOM MO Premium Income .0545 - NQJ
NJ Investment Quality .0600 - NNJ NJ Premium Income .0580 - NXJ NJ
Dividend Advantage .0590 - NUJ NJ Dividend Advantage 2 .0620 - NNC
NC Premium Income .0550 - NRB NC Dividend Advantage .0620 - NNO NC
Dividend Advantage 2 .0585 - NII NC Dividend Advantage 3 .0565 -
NUO OH Quality Income .0645 - NXI OH Dividend Advantage .0620 - NBJ
OH Dividend Advantage 2 .0580 - NVJ OH Dividend Advantage 3 .0635 -
NQP PA Investment Quality .0630 - NPY PA Premium Income 2 .0590 -
NXM PA Dividend Advantage .0610 - NVY PA Dividend Advantage 2 .0635
- NTX TX Quality Income .0620 - NPV VA Premium Income .0605 - NGB
VA Dividend Advantage .0620 - NNB VA Dividend Advantage 2 .0620 - �
� � � Change From
Closed-End Funds:
� � � Previous Month
Ticker
Taxable Funds
�
Preferred Securities
JTP Quality Preferred Income Fund .0520 - JPS Quality Preferred
Income Fund 2 .0620 - JHP Quality Preferred Income Fund 3 .0540 -
Floating Rate: Corporate Loans
NSL Senior Income Fund .0335 - JFR Floating Rate Income Fund .0410
- JRO Floating Rate Income Opportunity Fund .0500 -
Floating Rate: Tax Advantaged
JFP Tax-Advantaged Floating Rate Fund .0290* (.0055)
* This represents a managed distribution amount. A description
of the fund�s managed distribution program appears in the text
preceding the tables.
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 $115
billion of assets on March 31, 2009. For more information, please
visit the Nuveen Investments website at www.nuveen.com.
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