Two Nuveen Closed-End Funds announced pre-merger distributions. The specific distribution dates and amounts are detailed below. As previously announced, the shareholders of the two funds approved a reorganization.
The following dates apply to today’s pre-merger distribution declarations:
|Record Date||November 16, 2018|
|Ex-Dividend Date||November 15, 2018|
|Payable Date||December 6, 2018|
|NBB||NYSE||Nuveen Build America Bond Fund||$.0323|
|NBD||NYSE||Nuveen Build America Bond Opportunity Fund||$.0195|
The pre-merger distribution is intended to fully distribute the acquired funds accumulated undistributed net investment income (UNII) prior to the reorganization going effective.
Following the merger, the acquiring fund, Nuveen Build America Bond Fund (NYSE:NBB), to be renamed Nuveen Taxable Municipal Income Fund upon completion of the merger, is expected to declare an additional post-merger distribution, payable December 6, 2018. The total dollar amount of the pre- and post-merger distributions received on December 6, 2018 will be equal to or greater than the shareholders prior monthly dividend amount. Distributions are sourced entirely from net investment income, unless noted otherwise.
For more information about UNII, each fund, and the shareholder-approved reorganization, please visit www.nuveen.com/CEF.
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 $988 billion in assets under management as of 9/30/18 and operations in 16 countries. Its affiliates 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.
The information contained on the Nuveen website is not a part of this press release. Nuveen Securities, LLC, member FINRA and SIPC.
FORWARD LOOKING STATEMENTS:
Certain statements made or referenced in this release may be 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, including the timing of distributions and other events identified in this press release;
- 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 statements.
Nuveen does not provide tax advice; consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.