Nuveen Closed-End Funds Declare Pre-Reorganization Distributions
Nuveen Closed-End Funds Declare Pre-Reorganization Distributions
NEW YORK--(BUSINESS WIRE)--Four Nuveen Closed-End Funds announced pre-reorganization distributions. The specific distribution dates and amounts are detailed below. As previously announced, shareholders of the Nuveen Maryland Quality Municipal Income Fund (NYSE: NMY) have approved the fund’s reorganization into Nuveen Quality Municipal Income Fund (NYSE: NAD). Additionally, shareholders of the Nuveen New York Municipal Value Fund, Inc. (NYSE: NNY) have approved a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. Upon completion of the change of domicile, NNY will become Nuveen New York Municipal Value Fund. Shareholders of the Nuveen New York Municipal Value Fund 2 (NYSE: NYV) also have approved the fund’s reorganization into NNY. 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.
Following the transactions, NNY is expected to declare an additional post-closing distribution, with a record date of April 22, 2021, payable May 3, 2021. NAD is not expected to declare any additional post-closing distribution. For each fund, the total per-common share dollar amount of the pre- and post-closing tax-exempt distributions received on May 3, 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 |
April 9, 2021 |
|
Ex-Dividend Date |
April 8, 2021 |
|
Payable Date |
May 3, 2021 |
Per Share Distribution |
||||||||||
Ticker |
Exchange |
Fund Name |
Tax-Exempt
|
|
Ordinary
|
|
Long-Term
|
|||
NMY |
NYSE |
Nuveen Maryland Quality Municipal Income Fund |
$0.0718 |
|
$0.0000 |
|
$0.0000 |
|||
NAD |
NYSE |
Nuveen Quality Municipal Income Fund |
$0.0595 |
|
$0.0000 |
|
$0.0000 |
|||
NYV |
NYSE |
Nuveen New York Municipal Value Fund 2 |
$0.0211 |
|
$0.0000 |
|
$0.0000 |
|||
NNY |
NYSE |
Nuveen New York Municipal Value Fund, Inc. |
$0.0207 |
|
$0.0000 |
|
$0.0000 |
|||
For more information about UNII, each fund and the shareholder-approved reorganizations, please visit www.nuveen.com/CEF.
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 $1.2 trillion in assets under management as of 31 Dec 2020 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 in this release are 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;
- legal and regulatory developments; and
- other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statement.
EPS-1584339PR-E0321X