Newly Merged Nuveen Closed-End Fund Declares Post-Merger Muni-Term Preferred Distribution
CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Nuveen Michigan Quality Income Fund Muni-Term Preferred (NUM PrC) has declared a post-merger distribution. Muni-Term Preferred (MTP) shares of acquired funds were replaced by newly issued shares of MTP from the acquiring fund with substantially similar terms. The initial distribution for these new MTP shares is prorated for the period January 7, 2013 through January 31, 2013. This distribution follows the recently announced merger for each fund, which was successfully completed before the market open on January 7, 2013, which can be viewed by clicking here.
The following dates apply to today's distribution declarations for the following MTP Shares:
|Record Date||January 15, 2013|
|Ex-Dividend Date||January 11, 2013|
|Payable Date||February 1, 2013|
MuniFund Term Preferred
|NUM PrC||Nuveen Michigan Quality Income Municipal Fund MTP||.0153340|
Monthly distributions from Nuveen's municipal closed-end funds and portfolios are generally exempt from regular Federal income taxes, and monthly distributions of single-state municipal funds and portfolios are also exempt from state and, in some cases, local income taxes for in-state residents. Unless otherwise stated in the funds' objectives, monthly distributions of the municipal funds and portfolios may be subject to the Federal Alternative Minimum Tax for some shareholders.*
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $220 billion as of September 30, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.
*Nuveen does not provide tax advice; consult a professional tax advisor regarding your specific tax situation.
Kristyna Munoz, (312) 917-8343
KEYWORDS: United States North America Illinois
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