Nuveen Credit Strategies Income Fund Announces Adoption of Level Distribution Policy
20 Septembre 2021 - 10:10PM
Business Wire
Nuveen Credit Strategies Income Fund (NYSE: JQC) today announced
that the Board of Trustees of the Fund has approved the suspension
of the Fund’s previously announced capital return plan and has
approved the adoption of a new level distribution policy. Under the
new policy, the Fund is declaring the distribution rate outlined
below. The following dates apply to today’s declaration:
Record
Date
October
15, 2021
Ex-Dividend Date
October
14, 2021
Payable
Date
November
1, 2021
Ticker
Exchange
Fund
Name
Monthly Distribution Per Share
Amount
Market Distribution
Rate
NAV Distribution Rate
JQC
NYSE
Nuveen Credit Strategies Income Fund
0.0385
7.13%
6.65%
The level distribution policy is intended to provide
shareholders with stable, but not guaranteed, cash flow,
independent of the amount or timing of income earned or capital
gains realized by a Fund. The 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 addition, in any monthly period, in order to maintain its
level distribution amount, the Fund may pay out more than its net
investment income during the period. As a result, distribution
sources can be expected to include net investment income, return of
capital, and potentially capital gains. If a Fund’s distribution
includes anything other than net investment income, the Fund will
provide a notice of its best estimate of the distribution sources
at that time, 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 delivered after the end
of the calendar year.
The Fund’s ability to maintain a level distribution amount will
depend on a number of factors, including the amount and stability
of investment income earned by the Fund, underlying market
conditions, and the Fund’s expenses, including expenses associated
with the Fund’s use of leverage.
You should not draw any conclusions about the Fund’s investment
performance from the amount of the distribution or from the terms
of the level distribution policy. A return of capital is a
non-taxable distribution of a portion of a Fund’s capital. A return
of capital distribution does not necessarily reflect a Fund’s
investment performance and should not be confused with “yield” or
“income.”
Nuveen is a leading sponsor of closed-end funds (CEFs) with $65
billion of assets under management across 62 CEFs as of 30 June
2021. 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 30 years of experience managing
CEFs.
For more information, please visit Nuveen’s Closed-End Fund
homepage at www.nuveen.com/CEF.
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 $1.2 trillion in assets under management as
of 30 June 2021 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.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking
statements. Actual future results or occurrences may differ
significantly from those anticipated in any forward-looking
statements due to numerous factors. These include, but are not
limited to:
- market developments;
- legal and regulatory developments; and
- other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its
affiliates undertake no responsibility to update publicly or revise
any forward-looking statement.
EPS-1837101PR-E0921X
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