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Newly Merged Nuveen Closed-End Funds Declare Post-Merger Distributions

June 9, 2014

Declaration Ensures Shareholders Receive Full Tax-Exempt Distribution Amount

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Nuveen California Dividend Advantage Municipal Fund (NAC), Nuveen California AMT-Free Municipal Income Fund (NKX) and Nuveen Massachusetts Premium Income Municipal Fund (NMT) have declared additional, post-merger distributions. These distributions follow the recently announced mergers, which were successfully completed before the market open on June 9, 2014.

NAC and NMT today declared additional distributions on their common shares. The following dates apply to today’s NAC and NMT common share distributions:

Record Date   June 19, 2014
Ex-Dividend DateJune 17, 2014
Payable DateAugust 1, 2014
Reinvest DateAugust 1, 2014   Distribution Per Share
Tax Exempt

Ticker

Fund Name

Amount
NAC Dividend Advantage $.0054
 
   
Record DateJune 19, 2014
Ex-Dividend DateJune 17, 2014
Payable DateJuly 1, 2014
Reinvest DateJuly 1, 2014Distribution Per Share
Tax Exempt

Ticker

Fund Name

Amount
NMT MA Premium Income $.0408
 


The purpose of the additional distributions is to ensure that shareholders will not experience a reduced monthly tax-exempt distribution amount. When combined with pre-merger distributions, declared May 27, 2014, payable August 1, 2014 for NAC and July 1, 2014 for NMT, all shareholders from funds participating in the NAC and NMT mergers will receive a total dollar amount equal to or greater than the tax-exempt income declared by their original fund in the month prior to the mergers.

In addition, for both the NKX and NMT mergers, Muni-Term Preferred (MTP) shares of acquired funds were replaced by newly issued shares of MTP from the acquiring funds with substantially similar terms. The initial distribution for these new MTP shares is prorated for the period June 9, 2014 through June 30, 2014.

The following dates apply to today's distribution declarations for the following MTP Shares issued by NKX and NMT:

Record Date   June 19, 2014  
Ex-Dividend DateJune 17, 2014
Payable DateJuly 1, 2014

Ticker

 

MuniFund Term Preferred

Tax-Free Distribution

Per Share

NKX PrC Nuveen California AMT-Free Municipal Income Fund MTP 0.01222247
NMT PrE Nuveen Massachusetts Premium Income Municipal Fund MTP 0.01588913
NMT PrF Nuveen Massachusetts Premium Income Municipal Fund MTP 0.01619420
 


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, 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. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed nearly $225 billion as of March 31, 2014. 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.

1515-INV-O06/15



Nuveen Investments

Media Contact:

Kathleen Cardoza

(312) 917-7813

kathleen.cardoza@nuveen.com


Source: Nuveen Investments


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