This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nuveen Mortgage Opportunity Term Fund (JLS) Declares Capital Gain Distribution In Lieu Of Regular Monthly Income Distribution

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the Nuveen Mortgage Opportunity Term Fund (NYSE: JLS) has declared a distribution of $0.2377 per share, which is composed entirely of long- and short-term capital gains, in lieu of its regular monthly income-based dividend. The substitution of a capital gains-based distribution for its regular monthly income-based distribution this month is expected to be a one-time event this fiscal year. The fund has paid regular monthly income distributions of $0.1725 per share each month since its initial distribution in February 2010.

Important points to note:

  • The fund has realized capital gains that must be declared this month for tax purposes.
  • This month’s distribution level should not be used to calculate a forward-looking distribution rate relative to its share price, because the distribution is based on capital gains and not income.
  • The fund anticipates resuming income-based distributions next month at previous levels, although this distribution has not yet been declared and the amounts of any future distributions are not yet known.
  • This fund invests a substantial portion of its assets in mortgage-backed securities (MBS), both directly and indirectly. Due to the nature of MBS, particularly their prepayment behavior and income realization characteristics, the amount of the fund’s income for the year 2010 will be difficult to determine until very close to the December 31 fiscal year-end. Consequently, the fund has chosen to declare and distribute only capital gains in lieu of its normal ordinary income distribution in September, in order to guard against a potential, although unlikely, over-distribution for the entire fiscal year.
  • Based upon current information, the fund expects that by December when its fiscal year ends and its full year’s income is known, the monthly income distribution declared and paid in December will be substantially higher (on a one-time, end-of-year basis) than $0.1725 per share (the amount paid each month from February through August of 2010). However, this distribution also has not yet been declared and its amount, which may or may not be substantially higher than $0.1725 per share, is not yet known.

All of Nuveen’s closed-end funds seek to pay stable distributions at rates that reflect each fund’s past results and projected future performance. Each fund will, over time, pay all of its net investment income as distributions to shareholders. The funds’ positive or negative balances of undistributed net investment income (UNII) are disclosed from time to time in their periodic shareholder reports, and are also on www.nuveen.com/cef.

The following dates apply to today’s distribution declaration:

  Record Date   September 15, 2010
Ex-Dividend Date September 13, 2010
Payable Date October 1, 2010
      Amount Per Share

Short TermCapital Gain

 

Long TermCapital Gain

  Total
JLS Mortgage Opportunity Term Fund .0951   .1426   .2377

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed $150 billion as of June 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs