The closed-end funds listed below, which are advised by U.S. Bancorp Asset Management, Inc. (NYSE:USB), today declared their July distributions. The distributions will be allocated on a per-share basis on the common stock. The distributions have an ex-dividend date of July 1, 2014 and will be paid on July 16, 2014 to shareholders of record on July 3, 2014.
|Income Portfolio II||BSP||$0.0475||$0.0000|
|Income Portfolio III||CSP||$0.0400||$0.0000|
|NYSE MKT||July||Change from|
|Income Fund II||MXN||$0.0625||$0.0000|
MRF distributions are payable in cash or, pursuant to the fund’s dividend reinvestment plan, reinvested in additional shares of the fund’s common stock. If you participate in the plan, you will receive the equivalent in shares of the fund as follows: (1) if the market price of the shares on the payment date of the dividend or distribution is equal to or exceeds the fund’s net asset value, participants will be issued fund shares at the higher of net asset value or 95% of the market price; or (2) if the market price is lower than net asset value, the plan agent will receive the dividend or capital gain distributions in cash and apply them to buy fund shares on your behalf in the open market, on the New York Stock Exchange or elsewhere, for your account. If the market price exceeds the net asset value of the fund’s shares before the plan agent has completed its purchases, the average per-share purchase price paid by the plan agent July exceed the net asset value of the fund’s shares. This would result in the acquisition of fewer shares than if the dividend or capital gain distributions had been paid in shares issued by the fund.XAA, MXA and MXN distributions are payable in cash or, pursuant to the funds’ dividend reinvestment plans, reinvested in additional shares of the funds’ common stock. Under each fund’s plan, fund shares will be purchased on the exchange on which the fund is listed or elsewhere on the open market. During certain periods, each fund July pay distributions at a rate that July be more or less than the amount of net investment income actually earned by the fund during the period. Each fund will provide a notice, as required by Section 19(a) of the Investment Company Act of 1940, as amended, for any distribution that does not consist solely of net investment income. Any such notice will provide information regarding the estimated amounts of the distribution derived from net investment income, net realized capital gains and return of capital. Such notices will be for informational purposes only and the amounts indicated in such notices likely will differ from the ultimate federal income tax characterization of distributions reported to shareholders on Form 1099-DIV after year end.
Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as investment advisor to the First American Closed-End Funds. A subsidiary of U.S. Bank National Association, U.S. Bancorp Asset Management focuses on providing investment management services to institutional clients, including corporations, public entities and nonprofits. It has combined assets under management of more than $56 billion as of May 31, 2014. First American Closed-End Funds are subadvised by Nuveen Fund Advisors, Inc. and Nuveen Asset Management, LLC.U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp, the fifth-largest commercial bank in the United States, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com . Investment products, including shares of closed-end funds, are not obligations of, or guaranteed by, any bank, including U.S. Bank or any U.S. Bancorp affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal.