Nuveen Closed-End Funds Declare Pre-Merger Distributions
04 4월 2023 - 5:15AM
Business Wire
Two Nuveen Closed-End Funds announced pre-merger distributions.
The specific distribution dates and amounts are detailed below. As
previously announced, shareholders of Nuveen Ohio Quality Municipal
Income Fund (NYSE: NUO) and Nuveen Georgia Quality Municipal Income
Fund (NYSE: NKG), and preferred shareholders of Nuveen Municipal
Credit Income Fund (NYSE: NZF), have approved a proposal to merge
the funds. The mergers will combine each of NUO and NKG into NZF.
The pre-merger distribution for each fund being acquired is
intended to fully distribute the acquired fund’s accumulated
undistributed net investment income (UNII) prior to the closing of
the mergers. NUO does not currently estimate an accumulated
undistributed net investment income (UNII) balance and subsequently
will not make a pre-merger distribution.
Following the mergers, NZF is expected to declare a post-closing
distribution, with a record date of April 27, 2023, payable May 1,
2023. For common shareholders of NKG and NZF, the total per-common
share dollar amount of the pre- and post-closing tax-exempt
distributions received on May 1, 2023 will be equal to or greater
than the per-common share dollar amount of the prior month’s
tax-exempt dividend. In addition, the post-closing tax-exempt
distribution payable by NZF on May 1, 2023 will be equal to or
greater than the per-common share dollar amount of the prior
month’s tax-exempt dividend paid by NUO.
The following dates apply to today's pre-merger distribution
declarations:
Record Date
April 14, 2023
Ex-Dividend Date
April 13, 2023
Payable Date
May 1, 2023
Per Share Distribution
Ticker
Exchange
Fund Name
Tax-Exempt
Income
NKG
NYSE
Nuveen Georgia Quality Municipal Income
Fund
$0.0042
NZF
NYSE
Nuveen Municipal Credit Income Fund
$0.0165
Nuveen is a leading sponsor of closed-end funds (CEFs) with $54
billion of assets under management across 55 CEFs as of 31 Dec
2022. The funds offer exposure to a broad range of asset classes
and are designed for income-focused investors seeking regular
distributions. Nuveen has more than 35 years of experience managing
CEFs.
For more information, please visit Nuveen’s CEF homepage:
www.nuveen.com/closed-end-funds.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $1.1 trillion in assets under management as
of 31 Dec 2022 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD-LOOKING STATEMENTS
Certain statements made or referenced in this release may be
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, including the timing of distributions and
other events identified in this press release;
- legal and regulatory developments;
- the ability to satisfy conditions to the proposed mergers;
and
- other additional risks and uncertainties.
EPS-2822476PR-E0423W
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Financial Professionals: 800-752-8700
Investors: 800-257-8787
Media: media-inquiries@nuveen.com
Nuveen Municipal Credit ... (NYSE:NZF)
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Nuveen Municipal Credit ... (NYSE:NZF)
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