Nuveen Municipal Credit Income Stock Price, News & Analysis

Nuveen has declared a post-merger distribution for the Nuveen Municipal Credit Income Fund (NYSE: NZF), following a pre-merger distribution announced on April 3, 2023. The post-merger distribution, which is intended to ensure total distributions per common share remain comparable to prior distributions, will be $0.0267 per share. Key dates include the record date of April 27, 2023, ex-dividend date on April 26, 2023, and payable date on May 1, 2023. This distribution aims to provide stable income to investors after the acquisition of the Nuveen Georgia and Ohio Quality Municipal Income Funds. Nuveen manages approximately $54 billion in assets across 55 closed-end funds.

The recent merger involving Nuveen Ohio Quality Municipal Income Fund (NYSE: NUO) and Nuveen Georgia Quality Municipal Income Fund (NYSE: NKG) into Nuveen Municipal Credit Income Fund (NYSE: NZF) was finalized on April 17, 2023. This strategic move enables NZF to acquire all assets and liabilities of NUO and NKG in tax-free transactions, with shares from both funds converted to newly issued shares of NZF at specific exchange ratios based on net asset values from April 14, 2023. The exchange ratios are 1.06685100 for NUO and 0.85425383 for NKG.

Nuveen, managing over $54 billion across 55 closed-end funds, aims to enhance its offering to income-focused investors.

Nuveen Ohio Quality Municipal Income Fund (NYSE: NUO) and Nuveen Georgia Quality Municipal Income Fund (NYSE: NKG) have received shareholder approval for a merger with Nuveen Municipal Credit Income Fund (NYSE: NZF). The merger involves combining NUO and NKG into NZF. Additionally, notices have been filed with the SEC for the redemption of all outstanding Series 1 Variable Rate Demand Preferred Shares from NUO and Series 2028 Adjustable Rate MuniFund Term Preferred Shares from NKG. The redemption price is set at $100,000 per share, plus final accumulated dividends, and will occur by April 14, 2023, subject to market conditions.

The common and preferred shareholders of Nuveen Ohio Municipal Quality Income Fund (NUO) and Nuveen Georgia Municipal Quality Income Fund (NKG), along with preferred shareholders of Nuveen Municipal Credit Income Fund (NZF), have approved a merger proposal. This merger will consolidate NUO and NKG into NZF, effective before the market opens on April 17, 2023. Following the merger, distributions will be updated, with prior distributions announced on April 3, 2023 and a record date set for April 14, 2023. The surviving fund, NZF, may declare an additional distribution post-merger by the end of April 2023.

The Boards of Trustees of Nuveen Ohio Quality Municipal Income Fund (NUO), Nuveen Georgia Quality Municipal Income Fund (NKG), and Nuveen Municipal Credit Income Fund (NZF) have proposed reorganizations designed to combine NUO and NKG into NZF. This initiative aims to create a larger fund with reduced operating expenses and improved earnings potential. Shareholder approval is required, with special meetings scheduled for February 8, 2023. Nuveen oversees $57 billion in assets across 56 closed-end funds, catering to income-focused investors.

The reorganization of Nuveen Enhanced Municipal Value Fund (NYSE: NEV) into Nuveen Municipal Credit Income Fund (NYSE: NZF) was completed on June 6, 2022. In this tax-free transaction, NZF acquired nearly all assets and liabilities of NEV in exchange for common shares valued at the net assets transferred. The exchange ratio was set at 0.93046184 for NEV shares to NZF shares. Nuveen manages $62 billion across 58 closed-end funds, demonstrating its commitment to income-focused investment strategies.