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Nuveen Ohio And Arizona Closed-End Funds Declare Distributions

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced the distributions for four Ohio municipal closed-end funds and four Arizona municipal closed-end funds. The shareholders for each of the funds listed below approved the reorganizations of the funds into two, larger state-specific funds. The reorganization is expected to take place after the close of business on Friday, April 5, 2013, effective Monday, April 8, 2013 with the Nuveen Ohio Quality Income Municipal Fund (NYSE: NUO) and Nuveen Arizona Premium Income Municipal Fund (NYSE: NAZ) acquiring the common and preferred assets of their respective state funds. The goal of these reorganizations is to create larger funds with lower operations expenses and increased share trading volume.

Record Date     April 5, 2013        
Ex-Dividend Date April 3, 2013 Per Share Distribution
Payable Date May 1, 2013 Amount
Reinvest Date May 1, 2013 Tax-Exempt

Income

             
Acquiring Fund     Nuveen Ohio Quality Income Municipal Fund (NUO)       .0800
Nuveen Ohio Dividend Advantage Municipal Fund (NXI)       .0393
Acquired Funds Nuveen Ohio Dividend Advantage Municipal Fund 2 (NBJ)       .1074
      Nuveen Ohio Dividend Advantage Municipal Fund 3 (NVJ)       .0958
 
     
Record Date April 5, 2013  
Ex-Dividend Date April 3, 2013 Per Share Distribution
Payable Date May 1, 2013 Amount
Reinvest Date May 1, 2013 Tax-Exempt

Income

         
Acquiring Fund     Nuveen Arizona Premium Income Municipal Fund (NAZ)   .0640
Nuveen Arizona Dividend Advantage Municipal Fund (NFZ)   .0738
Acquired Funds Nuveen Arizona Dividend Advantage Municipal Fund 2 (NKR)   .0671
      Nuveen Arizona Dividend Advantage Municipal Fund 3 (NXE)   .0695
 

Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) prior to effecting the reorganization. Consequently, six funds (NXI, NBJ, NVJ, NFZ, NKR and NXE) are declaring distributions which will comply with these regulations, payable May 1, 2013 to fund shareholders of record on April 5, 2013. In addition, the acquiring funds (NUO and NAZ) are declaring distributions payable May 1, 2013 to fund shareholders of record on April 5, 2013. Following the merger, NUO is expected to declare an additional distribution, payable May 1, 2013. The total dollar amount of the combined pre- and post-merger tax-exempt distributions received on May 1, 2012 will be equal to or greater than the shareholder’s prior monthly tax-exempt dividend. The distribution information is detailed in the table above.

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