Nuveen Ohio and Arizona Closed-End Funds Declare Distributions

Updated

Nuveen Ohio and Arizona Closed-End Funds Declare Distributions

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced the distributions for four Ohio municipal closed-end funds and four Arizona municipal closed-end funds. The shareholders for each of the funds listed below approved the reorganizations of the funds into two, larger state-specific funds. The reorganization is expected to take place after the close of business on Friday, April 5, 2013, effective Monday, April 8, 2013 with the Nuveen Ohio Quality Income Municipal Fund (NYS: NUO) and Nuveen Arizona Premium Income Municipal Fund (NYS: NAZ) acquiring the common and preferred assets of their respective state funds. The goal of these reorganizations is to create larger funds with lower operations expenses and increased share trading volume.

Record Date

April 5, 2013

Ex-Dividend Date

April 3, 2013

Per Share Distribution

Payable Date

May 1, 2013

Amount

Reinvest Date

May 1, 2013

Tax-Exempt

Income

Acquiring Fund

Nuveen Ohio Quality Income Municipal Fund (NUO)

.0800

Nuveen Ohio Dividend Advantage Municipal Fund (NXI)

.0393

Acquired Funds

Nuveen Ohio Dividend Advantage Municipal Fund 2 (NBJ)

.1074

Nuveen Ohio Dividend Advantage Municipal Fund 3 (NVJ)

.0958

Record Date

April 5, 2013

Ex-Dividend Date

April 3, 2013

Per Share Distribution

Payable Date

May 1, 2013

Amount

Reinvest Date

May 1, 2013

Tax-Exempt

Income

Acquiring Fund

Nuveen Arizona Premium Income Municipal Fund (NAZ)

.0640

Nuveen Arizona Dividend Advantage Municipal Fund (NFZ)

.0738

Acquired Funds

Nuveen Arizona Dividend Advantage Municipal Fund 2 (NKR)

.0671

Nuveen Arizona Dividend Advantage Municipal Fund 3 (NXE)

.0695

Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) prior to effecting the reorganization. Consequently, six funds (NXI, NBJ, NVJ, NFZ, NKR and NXE) are declaring distributions which will comply with these regulations, payable May 1, 2013 to fund shareholders of record on April 5, 2013. In addition, the acquiring funds (NUO and NAZ) are declaring distributions payable May 1, 2013 to fund shareholders of record on April 5, 2013. Following the merger, NUO is expected to declare an additional distribution, payable May 1, 2013. The total dollar amount of the combined pre- and post-merger tax-exempt distributions received on May 1, 2012 will be equal to or greater than the shareholder's prior monthly tax-exempt dividend. The distribution information is detailed in the table above.


Acquired Fund Muni-Term Preferred (MTP) shares will be replaced one for one with newly issued shares of MTP from the acquiring Funds with substantially similar terms. Consequently, the MTP series being replaced are declaring final distributions for the period April 1, 2013 through April 7, 2013, which will be payable May 1, 2013. The new MTP series of the acquiring fund will declare a distribution on the effective date of the merger for the period of April 8, 2013 through April 30, 2013 which, when combined with the distributions listed below will be equal to the shareholders original pre-merger monthly distribution.

Record Date

April 5, 2013

Ex-Dividend Date

April 3, 2013

Payable Date

May 1, 2013

Reinvest Date

May 1, 2013

Ticker

MuniFund Term Preferred

Tax-Free
Distribution Per
Share

NFZ PrC

Nuveen Arizona Dividend Advantage Municipal Fund MTP

.003986

NKR PrC

Nuveen Arizona Dividend Advantage Municipal Fund 2 MTP

.003986

NXE PrC

Nuveen Arizona Dividend Advantage Municipal Fund 3 MTP

.005639

NBJ PrA

Nuveen Ohio Dividend Advantage Municipal Fund 2 MTP

.004569

NVJ PrA

Nuveen Ohio Dividend Advantage Municipal Fund 3 MTP

.004569

NXI PrC

Nuveen Ohio Dividend Advantage Municipal Fund MTP

.004569

NXI PrD

Nuveen Ohio Dividend Advantage Municipal Fund MTP

.005736

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

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, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $219 billion as of December 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.



Nuveen Investments
Media Contact:
Kristyna Munoz, (312) 917-8343
kristyna.munoz@nuveen.com

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS:

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