Several Nuveen Municipal Closed-End Funds Declare Distributions
June 27 2012 - 8:08AM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced distributions for certain Nuveen Connecticut, Georgia and
North Carolina state municipal bond closed-end funds. The
shareholders of the funds listed below, have approved proxies to
reorganize into larger funds. The reorganization is expected to
take place after the close of business on Friday, July 6, 2012,
effective Monday July 9, 2012, with three funds acquiring the
common and preferred assets of the other funds. The goal of this
reorganization is to create three, larger state-specific municipal
bond funds, with lower operating expenses and increased share
trading volume.
Acquired
Fund Symbol Acquiring Fund
Symbol -- Nuveen Connecticut Dividend Advantage Municipal
Fund NFC
Nuveen Connecticut
NTC -- Nuveen Connecticut Dividend Advantage Municipal Fund
2 NGK
Premium Income
-- Nuveen Connecticut Dividend Advantage Municipal Fund 3
NGO
Municipal Fund
-- Nuveen Georgia Premium Income Municipal Fund NPG
Nuveen Georgia
NKG -- Nuveen Georgia Dividend Advantage Municipal Fund NZX
Dividend AdvantageMunicipal 2 Fund
-- Nuveen North Carolina Dividend Advantage Municipal
Fund NRB
Nuveen North Carolina
NNC -- Nuveen North Carolina Dividend Advantage Municipal 2 Fund
NNO
Premium Income
-- Nuveen North Carolina Dividend Advantage Municipal 3 Fund
NII
Municipal Fund
Regulations require that the acquired funds fully distribute any
accumulated undistributed net investment income (UNII) as well as
capital gains prior to effecting a reorganization. Consequently,
eight funds (NFC, NGK, NGO, NPG, NZX, NRB, NNO and NII) are
declaring distributions which will comply with these regulations,
payable August 1, 2012 to fund shareholders of record on July 6,
2012. In addition, the acquiring funds NTC, NKG and NNC are
declaring distributions payable August 1, 2012 to shareholders of
record on July 6, 2012. Following the merger NTC, NKG and NNC will
declare an additional distribution, also payable August 1, 2012.
The total dollar amount of the combined pre- and post-merger
tax-exempt distributions received on August 1, 2012 will be equal
to or greater than the shareholder’s prior monthly tax-exempt
dividend.
Some portion of these distributions is taxable* to shareholders
under the Internal Revenue Code as long-term and or short-term
capital gains. The distribution information is detailed in the
table below.
For more information about UNII, each fund, and the
shareholder-approved reorganization, please visit
http://www.nuveen.com/CEF.
The following dates apply to distribution declarations for
the following Closed-End Funds:
Record Date July 6, 2012
Ex-Dividend Date July
3, 2012
Payable Date August 1, 2012
Reinvest Date
August 1, 2012
Distribution Amount
Tax-ExemptIncome
Long-termCapital Gain
Tax-ExemptIncome
OrdinaryIncome
Acquiring Fund NNC 0.0091 - -
-
Acquired Funds NRB 0.0379
0.0253 - - NNO 0.0168 - -
- NII 0.0092 - - -
Acquiring Fund NTC 0.0418 - -
-
Acquired Funds NFC 0.0667
0.0183 0.0232 0.0018 NGK 0.0411
0.0391 - - NGO 0.0499 - -
0.0075
Acquiring Fund NKG 0.0482
- - -
Acquired Funds NPG 0.1226
- - - NZX 0.0528 -
- -
Acquired Fund Muni-Term Preferred (MTP) shares will be replaced
with newly issued shares of MTP from the acquiring Funds with
substantially similar terms. Consequently, the MTP series being
replaced are declaring final distributions for the period July 1,
2012 through July 8, 2012, which will be payable August 1, 2012.
The new MTP series of the acquiring fund will declare a
distribution on the effective date of the merger for the period of
July 9, 2012 through July 31, 2012 which, when combined with the
distributions listed below will be equal to the shareholders
original pre-merger monthly distribution.
Record Date July 6, 2012
Ex-Dividend Date July
3, 2012
Payable Date August 1, 2012
Reinvest Date
August 1, 2012
Tax-Free Distribution Per Ticker
MuniFund Term Preferred Share NGK PrC
Connecticut Dividend Advantage Municipal Fund 2 MTP 0.005778
NGO PrC Connecticut Dividend Advantage Municipal Fund 3 MTP
0.005889 NFC PrC Connecticut Dividend Advantage
Municipal Fund MTP 0.005778 NZX PrC Georgia Dividend
Advantage Municipal Fund MTP 0.005889 NPG PrC Georgia
Premium Income Municipal Fund MTP 0.005889 NNO PrC
North Carolina Dividend Advantage Municipal Fund 2 MTP
0.005778 NII PrC North Carolina Dividend Advantage Municipal
Fund 3 MTP 0.005889 NRB PrC North Carolina Dividend
Advantage Municipal Fund MTP 0.005778
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. You should consult with a tax
specialist for specific tax advice.
Nuveen NC Muni Fund (AMEX:NII)
Historical Stock Chart
From Jul 2024 to Aug 2024
Nuveen NC Muni Fund (AMEX:NII)
Historical Stock Chart
From Aug 2023 to Aug 2024