Five Nuveen Closed-End Funds Declare Distributions
01 Marzo 2019 - 5:30PM
Business Wire
Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX), Nuveen S&P
500 Dynamic Overwrite Fund (SPXX), Nuveen Dow 30℠ Dynamic Overwrite
Fund (DIAX), Nuveen S&P 500 Buy-Write Income Fund (BXMX) and
Nuveen Real Estate Income Fund (JRS) have declared their regular
quarterly distributions. These funds represents five of several
Nuveen investment strategies designed for investors seeking
diversified sources of cash flow to prepare for and sustain their
retirement income and other cash flow needs. Information regarding
each fund’s last 19(a) Quarterly Distribution Notice (as of
December 21, 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 March 15, 2019 Ex-Dividend Date March 14,
2019 Payable Date April 1, 2019
Quarterly Distribution Per Share Change From
Ticker
Exchange
Fund
Name
Amount Previous Quarter
Covered
Call
QQQX NASDAQ Nuveen NASDAQ 100 Dynamic Overwrite Fund $.3900 -$.0300
SPXX NYSE Nuveen S&P 500 Dynamic Overwrite Fund $.2650 -$.0150
DIAX NYSE Nuveen Dow 30℠ Dynamic Overwrite Fund
$.2950
-$.0150 BXMX NYSE Nuveen S&P 500 Buy-Write Income Fund $.2325
-$.0125
Real
Assets
JRS NYSE Nuveen Real Estate Income Fund $.1900 -$.0150
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. For all of the funds, it is estimated that the
funds 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 11/30/2018
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 .0733 .1066 .0000
.0252 .8450 .3020 .4392 .0000 .1038 35.7% 52.0% 0.0% 12.3% QQQX
(FYE 12/31) .4200 .0151 .3291 .0000 .0758 1.6800 .0604 1.3165 .0000
.3031 3.6% 78.4% 0.0% 18.0% SPXX (FYE 12/31) .2800 .0444 .1371
.0000 .0985 1.1200 .1777 .5483 .0000 .3940 15.9% 49.0% 0.0% 35.2%
BXMX (FYE 12/31) .2450 .0384 .0697 .0000 .1369 .9800 .1537 .2786
.0000 .5477 15.7% 28.4% 0.0% 55.9% DIAX (FYE 12/31) .3100 .0690
.0952 .0000 .1458 1.2400 .2759 .3808 .0000 .5833 22.3% 30.7% 0.0%
47.0% 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 11/30/2018
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 .8450 10.56 10.18% 8.00% -1.16% 8.00%
QQQX (FYE 12/31)
Jan 2007 .4200 1.6800 22.52 11.74% 7.46% 4.07% 7.46%
SPXX (FYE
12/31) Nov 2005 .2800 1.1200 16.03 7.30% 6.99% 2.47% 6.99%
BXMX (FYE 12/31) Oct 2004 .2450 .9800 13.67 6.93% 7.17%
0.43% 7.17%
DIAX (FYE 12/31) Apr 2005 .3100 1.2400 18.67
9.32% 6.64% 3.05% 6.64% 1 As a percentage of 11/30/2018 NAV.
For more general closed-end fund information and education,
please visit Nuveen’s closed-end fund website.
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 $930 billion in assets under management as of
12/31/18 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.
Nuveen does not provide tax advice; consult a professional tax
advisor regarding your specific tax situation. Income may be
subject to state and local taxes, as well as the federal
alternative minimum tax.
758756-INV-O-03/21
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version on businesswire.com: https://www.businesswire.com/news/home/20190301005592/en/
Name Kristyna MunozPhone 254-644-1615Email
Kristyna.munoz@nuveen.com
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