Nuveen Credit Strategies Income Fund Announces Capital Return Plan
NEW YORK--(BUSINESS WIRE)--Dec 17, 2018--The Nuveen Credit Strategies Income Fund (NYSE: JQC) announced that the fund’s Board of Trustees at its December meeting approved adoption of a capital return plan.
The plan is the latest in a series of actions undertaken with the goal of enhancing fund competitiveness and investment returns for current and prospective common shareholders. Under the plan, JQC will return to shareholders 20 percent of common assets, or approximately $240 million of its capital as of December 14, 2018, over the next three years through supplemental amounts included in the fund’s regular monthly distributions. Additional information on the fund’s capital return plan is available here.
Pursuant to the plan, JQC is declaring its next monthly distribution. The following dates and amounts apply to today’s monthly distribution declaration for JQC:
As of December 14, 2018, the total distribution of $0.1015 would result in distribution rates of 14.1% and 16.4% on net asset value and market value, respectively. Closed-end fund historical distribution sources have included net investment income, realized gains and return of capital.
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 $988 billion in assets under management as of 9/30/18 and operations in 16 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 press release.
Nuveen Securities, LLC, member FINRA and SIPC.
FORWARD LOOKING STATEMENTS
Certain statements made or referenced in this release may be 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 statements.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181217005822/en/
CONTACT: Kristyna Munoz
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
Copyright Business Wire 2018.
PUB: 12/17/2018 04:30 PM/DISC: 12/17/2018 04:31 PM