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Nuveen Closed-End Funds Declare Pre-Reorganization Distributions

·3-min read

Three Nuveen Closed-End Funds announced pre-reorganization distributions. The specific distribution dates and amounts are detailed below. As previously announced, shareholders of the Nuveen New Jersey Municipal Value Fund (NYSE: NJV) and shareholders of the Nuveen Pennsylvania Municipal Value Fund (NYSE: NPN) have approved the funds’ reorganization into the Nuveen AMT-Free Municipal Value Fund (NYSE: NUW). Additionally, shareholders of the Nuveen California Municipal Value Fund, Inc. (NYSE: NCA) have approved a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. Upon completion of the change of domicile, NCA will become Nuveen California Municipal Value Fund. Shareholders of the Nuveen California Municipal Value Fund 2 (NYSE: NCB) also have approved the fund’s reorganization into NCA. The pre-reorganization distribution for each fund being acquired is intended to fully distribute the acquired fund’s accumulated undistributed net investment income (UNII) prior to the reorganization going effective.

As previously announced, following the transactions, each of the surviving funds, NUW and NCA, is expected to declare an additional post-closing distribution, with a record date of March 18, 2021, payable April 1, 2021. For each fund, the total per-common share dollar amount of the pre- and post-closing tax-exempt distributions received on April 1, 2021 will be equal to or greater than the per-common share dollar amount of the prior month’s tax-exempt dividend.

The following dates apply to today's pre-reorganization distribution declarations:

Record Date

March 5, 2021

Ex-Dividend Date

March 4, 2021

Payable Date

April 1, 2021

Per Share Distribution

Ticker

Exchange

Fund Name

Tax-Exempt
Income

Long-Term
Capital Gain

NUW

NYSE

Nuveen AMT-Free Municipal Value Fund

$0.0028

$0.0000

NJV

NYSE

Nuveen New Jersey Municipal Value Fund

$0.0000

$0.0000

NPN

NYSE

Nuveen Pennsylvania Municipal Value Fund

$0.0000

$0.0000

NCA

NYSE

Nuveen California Municipal Value Fund, Inc.

$0.0180

$0.0000

NCB

NYSE

Nuveen California Municipal Value Fund 2

$0.0215

$0.0771

For more information about UNII, each fund and the shareholder-approved reorganizations, please visit www.nuveen.com/CEF.

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 $1.2 trillion in assets under management as of 31 Dec 2020 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-1536511PR-E0221X

View source version on businesswire.com: https://www.businesswire.com/news/home/20210223006072/en/

Contacts

Financial Professionals:
800-752-8700

Investors:
800-257-8787

Media:
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