Nuveen Closed-End Funds Declare Pre-Reorganization Distributions

Nachrichtenquelle: Business Wire (engl.)
23.02.2021, 22:15  |  102   |   |   

Three Nuveen Closed-End Funds announced pre-reorganization distributions. The specific distribution dates and amounts are detailed below. As previously announced, shareholders of the Nuveen New Jersey Municipal Value Fund (NYSE: NJV) and shareholders of the Nuveen Pennsylvania Municipal Value Fund (NYSE: NPN) have approved the funds’ reorganization into the Nuveen AMT-Free Municipal Value Fund (NYSE: NUW). Additionally, shareholders of the Nuveen California Municipal Value Fund, Inc. (NYSE: NCA) have approved a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. Upon completion of the change of domicile, NCA will become Nuveen California Municipal Value Fund. Shareholders of the Nuveen California Municipal Value Fund 2 (NYSE: NCB) also have approved the fund’s reorganization into NCA. The pre-reorganization distribution for each fund being acquired is intended to fully distribute the acquired fund’s accumulated undistributed net investment income (UNII) prior to the reorganization going effective.

As previously announced, following the transactions, each of the surviving funds, NUW and NCA, is expected to declare an additional post-closing distribution, with a record date of March 18, 2021, payable April 1, 2021. For each fund, the total per-common share dollar amount of the pre- and post-closing tax-exempt distributions received on April 1, 2021 will be equal to or greater than the per-common share dollar amount of the prior month’s tax-exempt dividend.

The following dates apply to today's pre-reorganization distribution declarations:

Record Date

 

March 5, 2021

Ex-Dividend Date

 

March 4, 2021

Payable Date

 

April 1, 2021

Per Share Distribution

Ticker

Exchange

Fund Name

Tax-Exempt
Income

Long-Term
Capital Gain

NUW

NYSE

Nuveen AMT-Free Municipal Value Fund

$0.0028

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Disclaimer

Nuveen Closed-End Funds Declare Pre-Reorganization Distributions Three Nuveen Closed-End Funds announced pre-reorganization distributions. The specific distribution dates and amounts are detailed below. As previously announced, shareholders of the Nuveen New Jersey Municipal Value Fund (NYSE: NJV) and …

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