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SMALL BUSINESS
CORRECTING and REPLACING Seven Nuveen Closed-End Funds Declare Initial Distributions for MuniFund Term Preferred Shares
Business Wire
Please replace the release dated February 1, 2010 with the following
corrected version due to updated dividend declaration dates. The Record
Date should be February 15, 2010 (sted February 26, 2010). The
Ex-Dividend Date should be February 10, 2010 (sted February 24, 2010).
The corrected release reads:
SEVEN NUVEEN CLOSED-END FUNDS DECLARE INITIAL DISTRIBUTIONS FOR
MUNIFUND TERM PREFERRED SHARES
Nuveen Investments, a leading global provider of investment services to
institutions and high-net-worth investors today announced that the
following funds have declared their first distributions for MuniFund
Term Preferred shares (MTP) each fund has issued:
- Nuveen Insured Tax-Free Advantage Municipal Fund ( NEA PrC),
- Nuveen Connecticut Premium Income Municipal Fund (NTC PrC),
- Nuveen Massachusetts Premium Income Municipal Fund (NMT PrC),
- Nuveen North Carolina Premium Income Municipal Fund (NNC PrC),
- Nuveen Virginia Premium Income Municipal Fund (NPV PrC),
- Nuveen Maryland Premium Income Municipal Fund (NMY PrC), and
- Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG PrC)
These distributions cover the time periods of
42 days between the shares’ settlement on January 19, 2010 and the payable date of March 1, 2010 for NEA PrC, 41 days between the shares’ settlement on January 20, 2010 and the payable date of March 1, 2010 for NTC PrC, 40 days between the shares’ settlement on January 21, 2010 and the payable date of March 1, 2010 for NMT PrC, 40 days between the shares’ settlement on January 21, 2010 and the payable date of March 1, 2010 for NNC PrC, 35 days between the shares’ settlement on January 26, 2010 and the payable date of March 1, 2010 for NPV PrC, 32 days between the shares’ settlement on January 29, 2010 and the payable date of March 1, 2010 for NMY PrC, and 32 days between the shares’ settlement on January 29, 2010 and the payable date of March 1, 2010 for NKG PrC.
42 days between the shares’ settlement on January 19, 2010 and the payable date of March 1, 2010 for NEA PrC, 41 days between the shares’ settlement on January 20, 2010 and the payable date of March 1, 2010 for NTC PrC, 40 days between the shares’ settlement on January 21, 2010 and the payable date of March 1, 2010 for NMT PrC, 40 days between the shares’ settlement on January 21, 2010 and the payable date of March 1, 2010 for NNC PrC, 35 days between the shares’ settlement on January 26, 2010 and the payable date of March 1, 2010 for NPV PrC, 32 days between the shares’ settlement on January 29, 2010 and the payable date of March 1, 2010 for NMY PrC, and 32 days between the shares’ settlement on January 29, 2010 and the payable date of March 1, 2010 for NKG PrC.
Based on the par amount of $10 per share, these distributions reflect
annualized distribution rates of 2.850 percent for
NEA PrC, and
2.650 percent for
NTC PrC,
NMT PrC,
NNC PrC,
NPV
PrC,
NMY PrC, and
NKG PrC.
MuniFund Term Preferred Shares are a form of preferred share issued by
Nuveen municipal bond closed-end funds for the purposes of locking in
leverage costs at an attractive fixed tax-exempt cost and to hedge
against the risk of rising short-term rates. This hedging effort is
designed to improve future common share net earnings and distributions,
and to simultaneously provide the opportunity for partial or full
liquidity at par for that fund’s outstanding auction-rate preferred
shares (ARPS).
The following dates apply to today’s dividend declaration:
| Record Date |
February 15, 2010
|
|||||
| Ex-Dividend Date |
February 10, 2010
|
|||||
| Payable Date | March 1, 2010 |
|
Tax-Free*
Distribution Per Share |
||||||
| Amount | ||||||
|
Ticker
|
Fund Name
|
|||||
| NEA PrC |
Nuveen Insured Tax-Free Advantage Municipal
Fund MuniFund Term Preferred Shares |
$.033250 | ||||
| NTC PrC |
Nuveen Connecticut Premium Income Municipal
Fund MuniFund Term Preferred Shares |
.030181 | ||||
| NMT PrC |
Nuveen Massachusetts Premium Income Municipal
Fund MuniFund Term Preferred Shares |
.029444 | ||||
| NNC PrC |
Nuveen North Carolina Premium Income Municipal
Fund MuniFund Term Preferred Shares |
.029444 | ||||
| NPV PrC |
Nuveen Virginia Premium Income Municipal
Fund MuniFund Term Preferred Shares |
.025764 | ||||
| NMY PrC |
Nuveen Maryland Premium Income Municipal
Fund MuniFund Term Preferred Shares |
.023556 | ||||
| NKG PrC |
Nuveen Georgia Dividend Advantage Municipal
Fund 2 MuniFund Term Preferred Shares |
.023556 |
*Income may be subject to state and local taxes as well as the Federal
Alternative Minimum Tax.
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 HydePark, NWQ,
Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In
total, the Company managed $141 billion of assets on September 30, 2009.
For more information, please visit the Nuveen Investments website at
www.nuveen.com.
Copyright Business Wire 2010
2010-02-02 17:42:00
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