Nuveen Closed-End Funds Declare Pre-Merger Distributions
Two Nuveen Closed-End Funds announced pre-merger distributions. The specific distribution dates and amounts are detailed below. As previously announced, the shareholders of Nuveen Michigan Quality Municipal Income Fund (NYSE: NUM) have approved the fund’s reorganization into Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA). The pre-merger 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, the surviving fund, NEA, is expected to declare an additional post-closing distribution, with a record date of February 18, 2021, payable March 1, 2021. For each fund, the total per-common share dollar amount of the pre- and post-closing tax-exempt distributions received on March 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-merger distribution declarations:
Record Date |
February 5, 2021 |
|
Ex-Dividend Date |
February 4, 2021 |
|
Payable Date |
March 1, 2021 |
Per Share Distribution |
||||||||
Ticker |
Exchange |
Fund Name |
Tax-Exempt Income |
Long-Term Capital Gain |
||||
NUM |
NYSE |
Nuveen Michigan Quality Municipal Income Fund |
$.0266 |
$.0076 |
||||
NEA |
NYSE |
Nuveen AMT-Free Quality Municipal Income Fund |
$.0345 |
- |
||||
For more information about UNII, each fund and the shareholder-approved reorganizations, please visit www.nuveen.com/CEF or contact:
Advisors:
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
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-1496841PR-E0121X
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