The 19(a) distribution notices for ten Nuveen closed-end funds are now available. These informational notices provide further details on the sources of the funds’ regular monthly or quarterly distributions and follows the most recent monthly and quarterly distribution announcements. The full text of these notices is available below or on the Nuveen website via Distribution Source Estimates.
Important Information Regarding Distributions
December 30, 2022: THIS NOTICE IS FOR INFORMATIONAL PURPOSES ONLY. NO ACTION IS REQUIRED ON YOUR PART. If you would like to receive this notice and other shareholder information electronically, please visit www.investordelivery.com if you receive distributions and statements from your financial advisor or brokerage account. An electronic copy of this notice is also posted under distribution notices at www.nuveen.com/cef.
This notice provides shareholders with information regarding fund distributions, as required by current securities laws. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Policy.
The following table provides estimates of the Funds’ 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. It is estimated that JRS, QQQX, SPXX, DIAX, JCE, NMAI, NDMO, JRI and NPCT have distributed more than their income and net realized capital gains; therefore, a portion of the 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 the Funds’ investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send a Form 1099-DIV for the calendar year that will tell you how to report these 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 11/30/2022 |
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Current Quarter |
Fiscal YTD |
Estimated Percentages |
||||||||||||
Estimated Sources of Distribution |
|
Estimated Sources of Distribution |
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) |
.2090 |
0.0370 |
0.0000 |
0.0753 |
0.0967 |
0.8360 |
0.1479 |
0.0000 |
0.3014 |
0.3867 |
17.7% |
0.0% |
36.0% |
46.3% |
QQQX (FYE 12/31) |
.4934 |
0.0029 |
0.1721 |
0.2932 |
0.0252 |
1.9736 |
0.0116 |
0.6883 |
1.1728 |
0.1009 |
0.6% |
34.9% |
59.4% |
5.1% |
SPXX (FYE 12/31) |
.2940 |
0.0316 |
0.2407 |
0.0000 |
0.0217 |
1.1760 |
0.1263 |
0.9629 |
0.0000 |
0.0868 |
10.7% |
81.9% |
0.0% |
7.4% |
BXMX (FYE 12/31) |
.2365 |
0.0239 |
0.0224 |
0.1902 |
0.0000 |
0.9460 |
0.0956 |
0.0897 |
0.7608 |
0.0000 |
10.1% |
9.5% |
80.4% |
0.0% |
DIAX (FYE 12/31) |
.2867 |
0.0537 |
0.0405 |
0.0752 |
0.1173 |
1.1468 |
0.2148 |
0.1619 |
0.3008 |
0.4693 |
18.7% |
14.1% |
26.2% |
40.9% |
JCE (FYE 12/31) |
.3952 |
0.0235 |
0.0000 |
0.2963 |
0.0753 |
1.5808 |
0.0942 |
0.0000 |
1.1854 |
0.3013 |
6.0% |
0.0% |
75.0% |
19.1% |
NMAI (FYE 12/31) |
.3500 |
0.1218 |
0.0202 |
0.0000 |
0.2080 |
1.4000 |
0.4872 |
0.0806 |
0.0000 |
0.8321 |
34.8% |
5.8% |
0.0% |
59.4% |
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. |
||||||||||||||
Data as of 11/30/2022 |
||||||||||||||
Current Month |
Fiscal YTD |
Estimated Percentages |
||||||||||||
Estimated Sources of Distribution |
|
Estimated Sources of Distribution |
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 |
|
NDMO (FYE 10/31) |
.0765 |
0.0372 |
0.0000 |
0.0000 |
0.0393 |
0.0765 |
0.0372 |
0.0000 |
0.0000 |
0.0393 |
48.6% |
0.0% |
0.0% |
51.4% |
JRI (FYE 12/31) |
.0965 |
0.0610 |
0.0000 |
0.0000 |
0.0355 |
1.0615 |
0.6714 |
0.0000 |
0.0000 |
0.3901 |
63.2% |
0.0% |
0.0% |
36.8% |
NPCT (FYE 12/31) |
.1030 |
0.0573 |
0.0000 |
0.0000 |
0.0457 |
1.1330 |
0.6308 |
0.0000 |
0.0000 |
0.5022 |
55.7% |
0.0% |
0.0% |
44.3% |
1 Net investment income (NII) and capital gain amounts are as of the stated month-end date above. |
||||||||||||||
The following table provides information regarding 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 11/30/2022 |
|
||||||||
|
|
|
Annualized |
Cumulative |
|
||||
Inception Date |
Quarterly Distribution |
Fiscal YTD Distribution |
NAV |
5-Year Return on NAV2 |
Fiscal YTD Distribution Rate on NAV1 |
Fiscal YTD Return on NAV |
Fiscal YTD Distribution Rate on NAV1 |
|
|
|
|||||||||
JRS (FYE 12/31) |
Nov-2001 |
.2090 |
.8360 |
8.85 |
2.43% |
9.45% |
-28.74% |
9.45% |
|
QQQX (FYE 12/31) |
Jan-2007 |
.4934 |
1.9736 |
21.46 |
5.75% |
9.20% |
-22.80% |
9.20% |
|
SPXX (FYE 12/31) |
Nov-2005 |
.2940 |
1.1760 |
15.63 |
5.69% |
7.52% |
-11.68% |
7.52% |
|
BXMX (FYE 12/31) |
Oct-2004 |
.2365 |
.9460 |
13.19 |
5.01% |
7.17% |
-8.99% |
7.17% |
|
DIAX (FYE 12/31) |
Apr-2005 |
.2867 |
1.1468 |
16.80 |
4.33% |
6.83% |
-2.04% |
6.83% |
|
JCE (FYE 12/31) |
Mar-2007 |
.3952 |
1.5808 |
13.05 |
6.93% |
12.11% |
-13.21% |
12.11% |
|
NMAI (FYE 12/31) |
Nov-2021 |
.3500 |
1.4000 |
14.22 |
-17.38% |
9.85% |
-19.30% |
9.85% |
|
1As a percentage of 11/30/2022 NAV. 2 NMAI 5 year return figure reflects the annualized since inception return on NAV |
|||||||||
Data as of 11/30/2022 |
||||||||
|
|
|
Annualized |
Cumulative |
||||
Inception Date |
Monthly Distribution |
Fiscal YTD Distribution |
NAV |
5-Year Return on NAV2 |
Fiscal YTD Distribution Rate on NAV1 |
Fiscal YTD Return on NAV |
Fiscal YTD Distribution Rate on NAV1 |
|
NDMO (FYE 10/31) |
Aug-2020 |
.0765 |
.0765 |
11.01 |
-7.17% |
8.34% |
7.12% |
0.69% |
JRI (FYE 12/31) |
Apr-2012 |
.0965 |
1.0615 |
13.97 |
0.60% |
8.29% |
-13.96% |
7.60% |
NPCT (FYE 12/31) |
Apr-2021 |
.1030 |
1.1330 |
12.43 |
-20.23% |
9.94% |
-31.57% |
9.12% |
1As a percentage of 11/30/2022 NAV. 2 NPCT and NDMO 5 year return figure reflects the annualized since inception return on NAV |
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For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:
Financial Professionals
800-752-8700
Investors
800-257-8787
Media
media-inquiries@nuveen.com
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 $1.1 trillion in assets under management as of 30 Sep 2022 and operations in 27 countries. Its investment specialists 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.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this press release.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:
- market developments;
- legal and regulatory developments; and
- other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statement.
EPS-2656400PR-E1222W
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Contacts
Financial Professionals
800-752-8700
Investors
800-257-8787
Media
media-inquiries@nuveen.com
