Three Nuveen Closed-End Funds Declare Distributions
03 Diciembre 2018 - 10:56PM
Business Wire
Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX), Nuveen S&P
500 Dynamic Overwrite Fund (SPXX), and Nuveen Real Estate Income
Fund (JRS) have declared their regular quarterly distributions.
These funds represents three of several Nuveen investment
strategies designed for investors seeking diversified sources of
income to prepare for and help sustain their retirement and other
income needs. Information regarding each fund’s last 19(a)
Quarterly Distribution Notice (as of September 26, 2018) is also
included below. This informational notice provides further details
on the sources of fund distributions. The full text of this notice
is also available on the Nuveen website via Distribution Source
Estimates. For further information regarding fund distributions
including earnings, undistributed net investment income, and
notices please visit www.nuveen.com/cef.
The following dates apply to today's declarations:
Record Date December 14, 2018 Ex-Dividend Date
December 13, 2018 Payable Date December 31, 2018
Quarterly Distribution Per
Share Change From
Ticker
Exchange
Fund
Name
Amount Previous Quarter
Covered
Call
QQQX NASDAQ Nuveen Nasdaq 100 Dynamic Overwrite Fund $.4200 - SPXX
NYSE Nuveen S&P 500 Dynamic Overwrite Fund $.2800 -
Real
Assets
JRS NYSE Nuveen Real Estate Income Fund $.2050 -
Quarterly Managed Distributions
The goal of each fund’s managed distribution program is to
provide shareholders relatively consistent and predictable cash
flow by systematically converting expected long-term return
potential into regular distributions. Historical distribution
sources have included net investment income, realized gains and
return of capital. If a distribution includes anything other than
net investment income, the fund provides a notice of the best
estimate of its distribution sources at that time which may be
viewed at www.nuveen.com/CEFdistributions. These estimates may not
match the final tax characterization contained in shareholders’
1099-DIV forms after the end of the year.
Under a Managed Distribution policy, Nuveen closed-end funds
seek to maintain a stable regular distribution amount that, over
the long term, matches the fund’s total distributions paid to its
total return. Investors should not draw any conclusions about a
fund’s past or future investment performance from its current
distribution rate or from the terms of its Managed Distribution
Policy.
- Actual returns likely will differ from
projected long-term returns, (and therefore a fund’s distribution
rate, also), at least over shorter time periods. Over a specific
timeframe, a fund’s net asset value will increase (if returns
exceed distributions), or decrease (if distributions exceed
returns), by the difference between actual returns and total
distributions.
- A return of capital is a non-taxable
distribution of a portion of the fund’s capital. When a fund’s
returns exceed distributions, return of capital may represent
portfolio gains earned, but not realized as a taxable capital gain.
In periods when a fund’s returns fall short of distributions, it
will represent a portion of the investors’ original principal
unless the shortfall is offset during other time periods over the
life of the investment (previous or subsequent) when the fund’s
total return exceeds distributions.
- For additional information about
managed distributions, please see Understanding Managed
Distributions.
The following tables provide estimates of each fund’s
distribution sources, reflecting year-to-date cumulative experience
through the month-end prior to the latest distribution. The funds
attribute these estimates equally to each regular distribution
throughout the year. Consequently, the estimated information
as of the specified month-end shown below is for the current
distribution, and also represents an updated estimate for all prior
months in the year. QQQX and SPXX estimate that they have
distributed more than their income and net realized capital gains;
therefore, a portion of their distributions may be (and is shown
below as being estimated to be) a return of capital. A
return of capital may occur, for example, when some or all of the
money that you invested in the Fund is paid back to you. A
return of capital distribution does not necessarily reflect the
Fund’s investment performance and should not be confused with
“yield” or “income.”
The amounts and sources of distributions reported in this
19(a) Notice are only estimates and are not being provided for tax
reporting purposes. The actual amounts and sources of the
amounts for tax reporting purposes will depend upon each Fund’s
investment experience during the remainder of the fiscal year and
may be subject to changes based on tax regulations. Each
Fund will send you a Form 1099-DIV for the calendar year that will
tell you how to report distributions for federal income tax
purposes. More details about each Fund’s distributions and
the basis for these estimates are available on
www.nuveen.com/cef.
Data as of 8/31/2018 Current
Quarter Fiscal YTD
Estimated Percentages Estimated
Sources of Distribution 1 Estimated
Sources of Distribution 1 of Distribution
1 Per Share LT
ST Return of Per Share
LT ST Return
of LT ST
Return of
Distribution
NII
Gains
Gains
Capital
Distribution
NII
Gains
Gains
Capital
NII
Gains
Gains
Capital
JRS (FYE 12/31) .2050 .0735 .1315 .0000 .0000 .6400 .2296 .4104
.0000 .0000 35.9% 64.1% 0.0% 0.0% QQQX (FYE 12/31) .4200 .0146
.3944 .0000 .0110 1.2600 .0438 1.1832 .0000 .0330 3.5% 93.9% 0.0%
2.6% SPXX (FYE 12/31) .2800 .0427 .1539 .0000 .0834 .8400 .1280
.4618 .0000 .2502 15.2% 55.0% 0.0% 29.8% 1 Net investment
income (NII) is a projection through the end of the current
calendar quarter using actual data through the stated month-end
date above. Capital gain amounts are as of the stated date above.
JRS owns REIT securities which attribute their distributions to
various sources including NII, gains, and return of capital. The
estimated per share sources above include an allocation of the NII
based on prior year attributions which can be expected to differ
from the actual final attributions for the current year.
The following table provides information regarding each fund’s
distributions and total return performance over various time
periods. This information is intended to help you better understand
whether returns for the specified time periods were sufficient to
meet distributions.
Data as of 8/31/2018
Fiscal
Annualized Cumulative
Quarterly YTD 5-Year Fiscal
YTD Fiscal YTD Fiscal YTD
Inception
Dist
Dist
NAV
Return on
NAV
Dist Rate on
NAV1
Return on
NAV
Dist Rate on
NAV1
JRS (FYE 12/31) Nov 2001 .2050 .6400 11.28 11.56% 7.57% 3.59% 5.67%
QQQX (FYE 12/31) Jan 2007 .4200 1.2600 25.05 16.57% 6.71% 13.81%
5.03% SPXX (FYE 12/31) Nov 2005 .2800 .8400 17.08 9.64% 6.56% 7.41%
4.92%
1As a percentage of 8/31/2018 NAV.
For more general closed-end fund information and education,
please visit Nuveen’s closed-end fund website.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $988 billion in assets under management as of
9/30/18 and operations in 16 countries. Its affiliates offer deep
expertise across a comprehensive range of traditional and
alternative investments through a wide array of vehicles and
customized strategies. For more information, please visit
www.nuveen.com.
The information contained on the Nuveen website is not a part of
this press release.
Nuveen Securities, LLC, member FINRA and SIPC.
683311-INV-O-12/19
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version on businesswire.com: https://www.businesswire.com/news/home/20181203006092/en/
Kristyna Munoz254-644-1615Kristyna.munoz@nuveen.com
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