NEW YORK--(BUSINESS WIRE)--Nuveen Core Equity Alpha Fund (JCE), Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX), Nuveen S&P 500 Dynamic Overwrite Fund (SPXX), Nuveen Dow 30SM 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 six 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 June 28, 2019) 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.
Beginning on or about November 1, 2019, the Nuveen Closed-End Funds will be discontinuing the practice of announcing Fund distribution amounts and timing via press release. Instead, information about the Nuveen Closed-End Funds’ monthly and quarterly periodic distributions to shareholders will be posted and can be found on Nuveen’s enhanced closed-end fund resource page along with other Nuveen closed-end fund product updates. Shareholders can expect regular distribution information to be posted on www.nuveen.com on the first business day of each month. To ensure that our shareholders have timely access to the latest information, a subscribe function can be activated at this link here. The following dates apply to today's declarations:
Record Date |
September 13, 2019 |
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Ex-Dividend Date |
September 12, 2019 |
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Payable Date |
October 1, 2019 |
Quarterly Distribution Per Share |
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Change From |
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Ticker |
Exchange |
Fund Name |
Amount |
Previous Quarter |
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|
Domestic Equity |
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|
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JCE |
NYSE |
Nuveen Core Equity Alpha Fund |
$.2500 |
- |
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Covered Call |
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|
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QQQX |
NASDAQ |
Nuveen NASDAQ 100 Dynamic Overwrite Fund |
$.3900 |
- |
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SPXX |
NYSE |
Nuveen S&P 500 Dynamic Overwrite Fund |
$.2650 |
- |
||||
DIAX |
NYSE |
Nuveen Dow 30SM Dynamic Overwrite Fund |
$.2950 |
- |
||||
BXMX |
NYSE |
Nuveen S&P 500 Buy-Write Income Fund |
$.2325 |
- |
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Real Assets |
|
|
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JRS |
NYSE |
Nuveen Real Estate Income Fund |
$.1900 |
- |
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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 5/31/2019
Current Quarter |
Fiscal YTD |
Estimated Percentages |
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Estimated Sources of Distribution 1 |
Estimated Sources of Distribution 1 |
of Distribution 1 |
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Per Share |
LT |
ST |
Return of |
Per Share |
LT |
ST |
Return of |
LT |
ST |
Return of |
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Distribution |
NII |
Gains |
Gains |
Capital |
Distribution |
NII |
Gains |
Gains |
Capital |
NII |
Gains |
Gains |
Capital |
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JRS (FYE 12/31) |
.1900 |
.0706 |
.0809 |
.0000 |
.0386 |
|
.3800 |
.1411 |
.1617 |
.0000 |
.0772 |
|
37.1% |
42.6% |
0.0% |
20.3% |
QQQX (FYE 12/31) |
.3900 |
.0186 |
.0000 |
.0000 |
.3714 |
|
.7800 |
.0373 |
.0000 |
.0000 |
.7427 |
|
4.8% |
0.0% |
0.0% |
95.2% |
SPXX (FYE 12/31) |
.2650 |
.0401 |
.0000 |
.0000 |
.2249 |
|
.5300 |
.0802 |
.0000 |
.0000 |
.4498 |
|
15.1% |
0.0% |
0.0% |
84.9% |
BXMX (FYE 12/31) |
.2325 |
.0396 |
.0000 |
.0000 |
.1929 |
|
.4650 |
.0791 |
.0000 |
.0000 |
.3859 |
|
17.0% |
0.0% |
0.0% |
83.0% |
DIAX (FYE 12/31) |
.2950 |
.0758 |
.0000 |
.0000 |
.2192 |
|
.5900 |
.1516 |
.0000 |
.0000 |
.4384 |
|
25.7% |
0.0% |
0.0% |
74.3% |
JCE (FYE 12/31) |
.2500 |
.0215 |
.0000 |
.0000 |
.2285 |
|
.5000 |
.0429 |
.0000 |
.0000 |
.4571 |
|
8.6% |
0.0% |
0.0% |
91.4% |
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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. |
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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 5/31/2019
Fiscal |
Annualized |
Cumulative |
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Quarterly |
YTD |
5-Year |
Fiscal YTD |
Fiscal YTD |
Fiscal YTD |
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Inception |
Dist |
Dist |
NAV |
Return on NAV |
Dist Rate on NAV1 |
Return on NAV |
Dist Rate on NAV1 |
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JRS (FYE 12/31) |
Nov 2001 |
.1900 |
.3800 |
11.02 |
7.77% |
6.90% |
|
18.35% |
3.45% |
|
QQQX (FYE 12/31) |
Jan 2007 |
.3900 |
.7800 |
21.43 |
10.15% |
7.28% |
|
7.57% |
3.64% |
|
SPXX (FYE 12/31) |
Nov 2005 |
.2650 |
.5300 |
15.11 |
5.87% |
7.02% |
|
6.56% |
3.51% |
|
BXMX (FYE 12/31) |
Oct 2004 |
.2325 |
.4650 |
12.93 |
5.58% |
7.19% |
|
4.33% |
3.60% |
|
DIAX (FYE 12/31) |
Apr 2005 |
.2950 |
.5900 |
17.27 |
7.39% |
6.83% |
|
3.86% |
3.42% |
|
JCE (FYE 12/31) |
Mar 2007 |
.2500 |
.5000 |
13.92 |
|
7.15% |
7.18% |
|
11.70% |
3.59% |
1 As a percentage of 5/31/2019 NAV. |
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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 over $1 trillion in assets under management as of 30 June 2019 and operations in 23 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 notice. 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.
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