Nuveen Credit Strategies Income Fund Announces Adoption of Level Distribution Policy

Rhea-AI Summary

Nuveen Credit Strategies Income Fund (NYSE: JQC) has suspended its capital return plan and implemented a new level distribution policy to provide stable cash flow. The fund will distribute a monthly amount of 0.0385 per share, yielding 7.13% on market and 6.65% on NAV. The record date for this distribution is October 15, 2021, with an ex-dividend date of October 14, 2021 and payable date on November 1, 2021. The distribution sources may include net investment income and capital gains, underscoring the fund's commitment to return value to shareholders.

Positive

• Introduction of a new level distribution policy aimed at providing stable cash flow for investors.
• Monthly distribution rate set at 0.0385 per share, offering a market distribution rate of 7.13%.

Negative

• Suspension of the previously announced capital return plan may raise concerns about the fund's financial stability.

NEW YORK--(BUSINESS WIRE)-- Nuveen Credit Strategies Income Fund (NYSE: JQC) today announced that the Board of Trustees of the Fund has approved the suspension of the Fund’s previously announced capital return plan and has approved the adoption of a new level distribution policy. Under the new policy, the Fund is declaring the distribution rate outlined below. The following dates apply to today’s declaration:

Record Date		October 15, 2021
Ex-Dividend Date		October 14, 2021
Payable Date		November 1, 2021

Ticker		Exchange		Fund Name		Monthly Distribution Per Share Amount		Market Distribution Rate		NAV Distribution Rate
JQC		NYSE		Nuveen Credit Strategies Income Fund		0.0385		7.13%		6.65%

The level distribution policy is intended to provide shareholders with stable, but not guaranteed, cash flow, independent of the amount or timing of income earned or capital gains realized by a Fund. The Fund intends to distribute all or substantially all of its net investment income through its regular monthly distribution and to distribute realized capital gains at least annually.

In addition, in any monthly period, in order to maintain its level distribution amount, the Fund may pay out more than its net investment income during the period. As a result, distribution sources can be expected to include net investment income, return of capital, and potentially capital gains. If a Fund’s distribution includes anything other than net investment income, the Fund will provide a notice of its best estimate of the distribution sources at that time, which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms delivered after the end of the calendar year.

The Fund’s ability to maintain a level distribution amount will depend on a number of factors, including the amount and stability of investment income earned by the Fund, underlying market conditions, and the Fund’s expenses, including expenses associated with the Fund’s use of leverage.

You should not draw any conclusions about the Fund’s investment performance from the amount of the distribution or from the terms of the level distribution policy. A return of capital is a non-taxable distribution of a portion of a Fund’s capital. A return of capital distribution does not necessarily reflect a Fund’s investment performance and should not be confused with “yield” or “income.”

Nuveen is a leading sponsor of closed-end funds (CEFs) with $65 billion of assets under management across 62 CEFs as of 30 June 2021. 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 30 years of experience managing CEFs.

For more information, please visit Nuveen’s Closed-End Fund homepage at 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 30 June 2021 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-1837101PR-E0921X

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Financial professionals

800-752-8700

Investors

800-257-8787

Source: Nuveen Credit Strategies Income Fund

FAQ

What is the new distribution policy for Nuveen Credit Strategies Income Fund (JQC)?

Nuveen Credit Strategies Income Fund has adopted a level distribution policy to provide stable cash flow, with a monthly distribution rate of 0.0385 per share.

When is the record date for the next distribution of JQC?

The record date for the next distribution of Nuveen Credit Strategies Income Fund (JQC) is October 15, 2021.

What is the impact of the new distribution policy on JQC investors?

The new distribution policy is intended to provide JQC investors with stable cash flow, although it may involve payouts from sources other than net investment income.

What are the distribution rates for JQC?

The monthly distribution amount for JQC is 0.0385 per share, with a market distribution rate of 7.13% and a NAV distribution rate of 6.65%.