Nuveen Closed-End Funds Declare Monthly Distributions Distributions for MuniFund Term Preferred Shares Also Announced CHICAGO--(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:
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. Contact: Nuveen Investments Media Contact: Kristyna Sujata 312-917-8343 KRISTYNA.SUJATA@NUVEEN.COM Source: Nuveen Investments
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