NUW Nuveen AMT Free Municipal Value Fund

• Regular Monthly Tax-Exempt and Taxable Fund Distributions
• Eight Funds Declare Monthly Level Distributions
• Three Funds Declare Monthly Managed Distributions
• Seven Funds Declare Quarterly Managed Distributions

As previously announced, the Board of Trustees of Nuveen Intermediate Duration Municipal Term Fund (NYSE: NID) has approved the liquidation of the fund upon the fund’s originally scheduled termination date. NID intends to liquidate on or before March 31, 2023. The fund will not declare its regular monthly income distribution in March 2023 and expects to include any remaining undistributed net investment income with the fund’s final liquidating distribution. The fund anticipates making its final liquidating distribution on or about March 31, 2023. In connection with the liquidation, the fund anticipates providing an estimate of the amount of tax-exempt income included as part of the fund’s liquidating distribution. The final tax character of all distributions paid in 2023 will be reported to shareholders on Form 1099-DIV, which will be sent out in early 2024. Nuveen does not provide tax advice; investors should consult a professional tax advisor regarding their specific tax situation.

Several Nuveen closed-end funds have declared distributions. These funds represent investment strategies for investors seeking diversified sources of cash flow to prepare for and sustain their retirement income needs. For further information regarding fund distributions, including earnings, undistributed net investment income, and notices, please visit www.nuveen.com/cef.

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 access to the latest information, timely distribution and fund updates can be subscribed to at www.nuveen.com/subscriptions, under the closed-end funds tab of the Product Documents section. You can also follow updates by navigating to the Closed-End Fund section of our Resource Center, located at www.nuveen.com/resource-center.

The following dates apply to today's monthly distribution declarations for the following tax-exempt and taxable closed-end funds:

Record Date

March 15, 2023

Ex-Dividend Date

March 14, 2023

Payable Date

April 3, 2023

Monthly Distribution Per Share

Change From

Ticker

Exchange

Fund Name

Amount

Previous Month

NXP

NYSE

Nuveen Select Tax-Free Income Portfolio

$0.0485

-

NUV

NYSE

Nuveen Municipal Value Fund, Inc.

$0.0280

-

NUW

NYSE

Nuveen AMT-Free Municipal Value Fund

$0.0390

-

NMI

NYSE

Nuveen Municipal Income Fund, Inc.

$0.0300

-

NIM

NYSE

Nuveen Select Maturities Municipal Fund

$0.0245

-

NZF

NYSE

Nuveen Municipal Credit Income Fund

$0.0430

-

NMZ

NYSE

Nuveen Municipal High Income Opportunity Fund

$0.0455

-

NIQ

NYSE

Nuveen Intermediate Duration Quality Municipal Term Fund

$0.0295

-

NAD

NYSE

Nuveen Quality Municipal Income Fund

$0.0395

-

NEA

NYSE

Nuveen AMT-Free Quality Municipal Income Fund

$0.0350

-

NVG

NYSE

Nuveen AMT-Free Municipal Credit Income Fund

$0.0425

-

NMCO

NYSE

Nuveen Municipal Credit Opportunities Fund

$0.0525

-

California

 

 

NAC

NYSE

Nuveen California Quality Municipal Income Fund

$0.0360

-

NKX

NYSE

Nuveen California AMT-Free Quality Municipal Income Fund

$0.0415

-

NCA

NYSE

Nuveen California Municipal Value Fund

$0.0290

-

NXC

NYSE

Nuveen California Select Tax-Free Income Portfolio

$0.0435

-

New York

 

 

NRK

NYSE

Nuveen New York AMT-Free Quality Municipal Income Fund

$0.0345

-

NAN

NYSE

Nuveen New York Quality Municipal Income Fund

$0.0375

-

NXN

NYSE

Nuveen New York Select Tax-Free Income Portfolio

$0.0385

-

NNY

NYSE

Nuveen New York Municipal Value Fund

$0.0260

-

Other State Funds

 

 

NAZ

NYSE

Nuveen Arizona Quality Municipal Income Fund

$0.0325

-

NKG

NYSE

Nuveen Georgia Quality Municipal Income Fund

$0.0270

-

NMT

NYSE

Nuveen Massachusetts Quality Municipal Income Fund

$0.0260

-

NMS

NYSE

Nuveen Minnesota Quality Municipal Income Fund

$0.0360

-

NOM

NYSE

Nuveen Missouri Quality Municipal Income Fund

$0.0255

-

NXJ

NYSE

Nuveen New Jersey Quality Municipal Income Fund

$0.0325

-

NUO

NYSE

Nuveen Ohio Quality Municipal Income Fund

$0.0275

-

NQP

NYSE

Nuveen Pennsylvania Quality Municipal Income Fund

$0.0290

-

NPV

NYSE

Nuveen Virginia Quality Municipal Income Fund

$0.0360

-

   

Monthly Distribution Per Share

Change From

Ticker

Exchange

Fund Name

Amount

Previous Month

Preferred and Income Securities

JPC

NYSE

Nuveen Preferred & Income Opportunities Fund

$0.0470

-

JPI

NYSE

Nuveen Preferred and Income Term Fund

$0.1150

-

JPS

NYSE

Nuveen Preferred & Income Securities Fund

$0.0405

-

JPT

NYSE

Nuveen Preferred and Income Fund

$0.1070

-

NPFD

NYSE

Nuveen Variable Rate Preferred & Income Fund

$0.0960

-

Taxable Municipals

 

 

NBB

NYSE

Nuveen Taxable Municipal Income Fund

$0.0720

-

Corporate High Yield Debt

 

 

JHAA

NYSE

Nuveen Corporate Income 2023 Target Term Fund

$0.0185

-$0.0065

Monthly Level Distributions

The goal of each fund’s level distribution program is to provide shareholders with stable, but not guaranteed, cash flow, independent of the amount or timing of income earned or capital gains realized by the funds. Each fund intends to distribute all or substantially all of its net investment income through its regular monthly distribution and to distribute realized capital gains at least annually. In any monthly period, in order to maintain its level distribution amount, each fund may pay out more or less than its net investment income during the period. As a result, regular distributions throughout the year are expected to include net investment income and potentially a return of capital and/or capital gains for tax purposes. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at the time of the distribution which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.

You should not draw any conclusions about the Fund’s investment performance from the amount of the distribution. A return of capital is a non-taxable distribution of a portion of a Fund’s capital. A distribution including return of capital does not necessarily reflect a Fund’s investment performance and should not be confused with “yield” or “income.”

Record Date

March 15, 2023

Ex-Dividend Date

March 14, 2023

Payable Date

April 3, 2023

Monthly Distribution Per Share

Change From

Ticker

Exchange

Fund Name

Amount

Previous Month

Floating Rate

NSL

NYSE

Nuveen Senior Income Fund

$0.0435

-

JFR

NYSE

Nuveen Floating Rate Income Fund

$0.0745

-

JRO

NYSE

Nuveen Floating Rate Income Opportunity Fund

$0.0740

-

JSD

NYSE

Nuveen Short Duration Credit Opportunities Fund

$0.1110

-

JQC

NYSE

Nuveen Credit Strategies Income Fund

$0.0475

-

Mortgage-Backed Securities

 

 

JMM

NYSE

Nuveen Multi-Market Income Fund

$0.0275

-

JLS

NYSE

Nuveen Mortgage and Income Fund

$0.1160

-

Global High Yield Debt

 

 

JGH

NYSE

Nuveen Global High Income Fund

$0.1035

-

Monthly 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 dates apply to today's declarations:

Record Date

March 15, 2023

Ex-Dividend Date

March 14, 2023

Payable Date

April 3, 2023

Monthly Distribution Per Share

 

Change From

Ticker

Exchange

Fund Name

Amount

Previous Month

Real Assets

JRI

NYSE

Nuveen Real Asset Income and Growth Fund

$0.0870

-$0.0095

National Municipal

 

 

NDMO

NYSE

Nuveen Dynamic Municipal Opportunities Fund

$0.0620

-$0.0145

Taxable Fixed Income-Multi-Sector

 

 

NPCT

NYSE

Nuveen Core Plus Impact Fund

$0.0830

-$0.0200

Information regarding each fund’s last 19(a) Distribution Notice (as of January 31, 2023) 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.

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 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 1/31/2023

Current Month

Fiscal YTD

Estimated Sources of Distribution

 

Estimated Sources of Distribution

Estimated Percentages 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

0.0370

0.0000

0.0000

0.0395

0.2295

0.1110

0.0000

0.0000

0.1185

48.4%

0.0%

0.0%

51.6%

JRI (FYE 12/31)

.0965

0.0266

0.0000

0.0000

0.0699

0.0965

0.0266

0.0000

0.0000

0.0699

27.6%

0.0%

0.0%

72.4%

NPCT (FYE 12/31)

.1030

0.0387

0.0000

0.0000

0.0643

0.1030

0.0387

0.0000

0.0000

0.0643

37.6%

0.0%

0.0%

62.4%

1 Net investment income (NII) and capital gain amounts are as of the stated month-end date above.

The following tables 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 1/31/2023

 

 

 

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

.2295

11.33

-5.05%

8.10%

11.75%

2.03%

JRI (FYE 12/31)

Apr-2012

.0965

.0965

14.63

1.56%

7.92%

8.52%

0.66%

NPCT (FYE 12/31)

Apr-2021

.1030

.1030

13.21

-14.85%

9.36%

8.50%

0.78%

 

1As a percentage of 1/31/2023 NAV.

2 NPCT and NDMO 5 year return figure reflects the annualized since inception return on NAV

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 dates apply to today's declarations:

Record Date

March 15, 2023

Ex-Dividend Date

March 14, 2023

Payable Date

April 3, 2023

Quarterly Distribution Per Share

Change From

Ticker

Exchange

Fund Name

Amount

Previous Quarter

Domestic Equity

JCE

NYSE

Nuveen Core Equity Alpha Fund

$0.3200

-$0.0752

Covered Call

 

 

DIAX

NYSE

Nuveen Dow 30SM Dynamic Overwrite Fund

$0.2867

-

BXMX

NYSE

Nuveen S&P 500 Buy-Write Income Fund

$0.2365

-

QQQX

NASDAQ

Nuveen NASDAQ 100 Dynamic Overwrite Fund

$0.4200

-$0.0734

SPXX

NYSE

Nuveen S&P 500 Dynamic Overwrite Fund

$0.2940

-

Real Assets

 

 

JRS

NYSE

Nuveen Real Estate Income Fund

$0.1700

-$0.0390

Multi-Asset

 

 

NMAI

NYSE

Nuveen Multi-Asset Income Fund

$0.3000

-$0.0500

Information regarding each fund’s last 19(a) Distribution Notice (as of November 30, 2022) 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.

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, SPX, DIAX, JCE and NMAI 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 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 11/30/2022

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.

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

 

Nuveen is a leading sponsor of closed-end funds (CEFs) with $54 billion of assets under management across 55 CEFs as of 31 Dec 2022. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs. For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:

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 31 Dec 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.

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