Nuveen Closed-End Funds Declare Quarterly Distributions
01 Juni 2012 - 10:41PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced regular quarterly distributions for 16 Nuveen closed-end
funds. These funds represent a broad range of equity and taxable
fixed-income investment strategies for investors seeking to build
sophisticated and diversified long-term investment portfolios for
cash flow.
Distributions of income from Nuveen's taxable closed-end funds
are generally subject to Federal income taxes.* 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. Funds that may be affected by such re-characterization
are noted on our web site at
http://www.nuveen.com/corporate/taxinfo/Default.aspx.
Each of these 16 funds has adopted a managed distribution
program. The goal of a fund’s managed distribution program is to
provide shareholders relatively consistent and predictable cash
flow by systematically converting its expected long-term return
potential into regular distributions. As a result, regular
distributions throughout the year will likely include a portion of
expected long-term gains (both realized and unrealized), along with
net investment income and/or a return of capital. Important points
to understand about Nuveen fund managed distributions are:
- Each Nuveen fund seeks to establish a
relatively stable distribution rate that roughly corresponds to the
projected total return from its investment strategy over an
extended period of time. However, you should not draw any
conclusions about a fund’s past or future investment performance
from its current distribution rate.
- Actual returns will differ from
projected long-term returns (and therefore a fund’s distribution
rate), at least over shorter time periods. Over a specific
timeframe, the difference between actual returns and total
distributions will be reflected in an increasing (returns exceed
distributions) or a decreasing (distributions exceed returns) fund
net asset value.
- Each quarter’s distributions are
expected to be paid from some or all of the following sources:
- net investment income (regular interest
and dividends),
- realized capital gains, and
- unrealized gains, or, in certain cases,
a return of principal (non-taxable distributions)
- A non-taxable distribution is a payment
of a portion of the fund’s capital. When fund returns exceed
distributions, it may represent portfolio gains earned, but not
realized as a taxable capital gain. In periods when fund returns
fall short of distributions, it will represent a portion of your
original principal unless the shortfall is offset during other time
periods over the life of your investment (previous or subsequent)
when the fund’s total return exceeds distributions.
- Because distribution source estimates
are updated quarterly based on a fund’s performance and forecast
for its current fiscal year (which is the calendar year for all the
funds listed below), these estimates may differ from both the tax
information reported to shareholders in their fund’s 1099
statement, as well as the ultimate economic sources of
distributions over the life of their investment.
Information regarding each fund’s distributions and total return
performance over various time periods will be sent to shareholders
with their distributions, and posted on www.nuveen.com/cef.
Additionally, estimates of the tax characteristics of each
fund’s distribution sources reflecting year-to-date cumulative
experience will also be mailed to shareholders and shown on
www.nuveen.com/cef. These estimates are for informational purposes
only. The estimates are calculated on a tax basis rather than on a
generally accepted accounting principles (GAAP) basis, but should
not be used for tax reporting purposes. The actual amounts and
sources for tax reporting purposes will depend upon each fund’s
investment experience during the remainder of its fiscal year. The
final determination of the source and tax characteristics of all
distributions will be made in early 2013 and reported to
shareholders on Form 1099-DIV at that time.
The following dates apply to today’s distribution
declarations:
Record Date June 15, 2012 Ex-Dividend
Date June 13, 2012 Payable Date July 2,
2012 Reinvest Date July 2, 2012
Quarterly Taxable Distribution Per Share Change From
Ticker Closed-End Funds:
Amount Previous Quarter Global
Equity JGV Global Value Opportunities Fund .3200 (.0250)
Equity JTA Tax-Advantaged Total Return Strategy
Fund .2200 - JTD Tax-Advantaged Dividend Growth Fund .2600 - JCE
Core Equity Alpha Fund .2700 - QQQX NASDAQ Premium Income &
Growth .3020 -
Real Estate JRS Real Estate
Income Fund .2300 -
Equity Option JPZ Equity
Premium Income Fund .2710 - JSN Equity Premium Opportunity Fund
.2790 - JLA Equity Premium Advantage Fund .2840 - JPG Equity
Premium and Growth Fund .2800 - DPD Dow 30SM Premium & Dividend
Income Fund Inc., .2660 - DPO Dow 30SM Enhanced Premium and Income
Fund Inc. .2180 -
Balanced
JDD Diversified Dividend and Income Fund .2500 -
Global
Debt JGG Global Government Enhanced Income Fund .2950
(.0150) JGT Multi-Currency Short-Term Govt Income Fund .2975
(.0155) GCF Global Income and Currency .2250 -
Nuveen Investments provides high-quality investment services
designed to help secure the long-term goals of institutional and
individual investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets a wide range of
specialized investment solutions which provide investors access to
capabilities of its high-quality boutique investment
affiliates—Nuveen Asset Management, Symphony Asset Management, NWQ
Investment Management Company, Santa Barbara Asset Management,
Tradewinds Global Investors, Winslow Capital Management, and
Gresham Investment Management. In total, Nuveen Investments managed
approximately $227 billion as of March 31, 2012. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
*Nuveen is not a tax advisor. Clients should consult their
professional advisors before making any tax or investment
decisions.
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