Nuveen Variable Rate Preferred & Income Fund Declares Initial Distribution and Releases Fund Commentary

Rhea-AI Summary

The Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD) has announced its initial monthly distribution of $0.1380 per share, effective from February 15, 2022. The ex-dividend date is set for February 14, 2022, with payments scheduled for March 1, 2022. This distribution represents a rate of 6.62% based on the fund's $25 IPO price. Nuveen, a leader in closed-end funds, manages approximately $65 billion across 62 funds.

Positive

• Initial monthly distribution set at $0.1380 per share.
• Distribution rate of 6.62% based on $25 IPO price.
• Nuveen has $65 billion in assets under management, indicating strong market presence.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- The Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD) declared its initial monthly distribution of $0.1380 per share. The fund began trading on the NYSE on December 16, 2021.

The following dates apply to today’s monthly distribution declaration:

Record Date		February 15, 2022
Ex-Dividend Date		February 14, 2022
Payable Date		March 1, 2022

Ticker		Exchange		Fund Name		Monthly Distribution Amount Per Share		Distribution Rate on $25 IPO Price
NPFD		NYSE		Nuveen Variable Rate Preferred & Income Fund		$0.1380		6.62%

For an update on the Fund’s current portfolio positioning please see the NPFD commentary. You can also subscribe to closed-end fund fact sheets, commentaries, distribution announcements, and other fund literature on Nuveen’s website.

Nuveen is a leading sponsor of closed-end funds (CEFs) with $65 billion of assets under management across 62 CEFs as of 30 September 2021. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has over 30 years of experience managing CEFs.

For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:

Financial Professionals
800-752-8700

Investors
800-257-8787

Media
media-inquiries@nuveen.com

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 September 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-1985797PR-E0122X

View source version on businesswire.com: https://www.businesswire.com/news/home/20220113005915/en/

Financial Professionals

800-752-8700

Investors

800-257-8787

Media

media-inquiries@nuveen.com

Source: Nuveen

FAQ

What is the distribution amount per share for NPFD?

The Nuveen Variable Rate Preferred & Income Fund (NPFD) has declared a monthly distribution of $0.1380 per share.

When is the ex-dividend date for NPFD?

The ex-dividend date for NPFD is February 14, 2022.

What is the payable date for NPFD's distribution?

The payable date for NPFD's distribution is March 1, 2022.

What is the distribution rate for NPFD based on its IPO price?

The distribution rate for NPFD is 6.62% based on its $25 IPO price.

How much does Nuveen manage across its closed-end funds?

Nuveen manages approximately $65 billion across 62 closed-end funds.