This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Nuveen New York Municipal Closed-End Funds Declare Distributions

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced distributions for six Nuveen New York municipal closed-end funds. The shareholders of these funds, Nuveen New York Quality Income Fund, Inc. (NYSE: NUN), Nuveen New York Premium Income Fund, Inc. (NYSE: NNF), Nuveen New York Investment Quality Municipal Income Fund, Inc. (NYSE: NQN), Nuveen New York Select Quality Income Fund, Inc. (NYSE: NVN), Nuveen New York Dividend Advantage Municipal Income Fund (NYSE MKT: NKO) and Nuveen New York AMT-Free Municipal Income Fund (NYSE MKT: NRK) have each approved the reorganization of their fund into a single, larger fund. The reorganization is expected to take place after the close of business on Friday, March 8, 2013, effective Monday March 11, 2013, with NRK acquiring the common and preferred assets of the other funds. The goal of this reorganization is to create a single, larger AMT-free New York municipal bond fund, with lower operating expenses and increased share trading volume.

The following dates apply to distribution declarations for the following Closed-End Funds:

Record Date   March 8, 2013    
Ex-Dividend Date March 6, 2013      
Payable Date April 1, 2013 Per Share Distribution Amount
Reinvest Date April 1, 2013 Tax-Exempt Long-Term
        Income   Capital Gain
Acquiring Fund   NRK   0.0540   -
NNF   0.0695   0.0069
NUN   0.0700   0.0085
Acquired Funds NVN   0.0725   0.0155
NKO   0.0650   -
    NQN   0.0690   0.0081
 

The following dates apply to distribution declarations for the following Closed-End Funds:

Record Date   March 8, 2013  
Ex-Dividend Date March 6, 2013  
Payable Date May 1, 2013 Per Share Distribution Amount
Reinvest Date May 1, 2013

Tax-Exempt

Income

       
Acquiring Fund   NRK   0.0540
NNF   0.2265
NUN   0.0982
Acquired Funds NVN   0.1076
NKO   0.0643
    NQN   0.1249
 

Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) prior to effecting the reorganization. Consequently, five funds (NUN, NNF, NQN, NVN and NKO) are declaring distributions which will comply with these regulations, payable April 1, 2013 and May 1, 2013 to fund shareholders of record on March 8, 2013. In addition, the acquiring fund (NRK) is declaring distributions payable April 1, 2013 and May 1, 2013 to shareholders of record on March 8, 2013. A portion of these distributions for four of the funds will be comprised of long-term capital gains under the Internal Revenue Code. The distribution information is detailed in the table above.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

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