Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors today announced the first distribution declaration for the Nuveen Mortgage Opportunity Term Fund 2 (NYSE: JMT) of $0.1670 per common share. The fund began trading on the New York Stock Exchange (NYSE) on February 24, 2010. This distribution, based on the $25.00 per share IPO price, reflects an annualized distribution rate of 8.02 percent.
The fund's investment objective is to generate attractive total returns through opportunistic investments in mortgage-backed securities ("MBS"). The fund seeks to achieve its investment objective by investing in MBS directly, and indirectly through a separate investment in a public-private investment partnership formed pursuant to the Public-Private Investment Program ("PPIP") established by the U.S. Department of Treasury (the "UST").
Nuveen funds generally seek to pay stable distributions at rates that reflect each fund's past results and projected future performance. During certain periods, each fund may pay distributions at a rate that may be more or less than the amount of net investment income actually earned by the fund during the period. If a fund has cumulatively earned more than it has paid in distributions, it holds the excess in reserve as undistributed net investment income (UNII) as part of the fund's net asset value (NAV). Conversely, if a fund has cumulatively paid distributions in excess of its earnings, the excess constitutes negative UNII that is likewise reflected in the fund's NAV. Each fund will, over time, pay all of its net investment income as distributions to shareholders. Nuveen funds' positive or negative UNII balances are disclosed from time to time in their periodic shareholder reports, and are also on www.nuveen.com/cef once the fund has at least three or six months' history for municipal bond funds and taxable funds, respectively.
The following dates apply to today's dividend declaration:
Record Date | Â | May 15, 2010 |
Ex-Dividend Date | May 12, 2010 | |
Payable Date | June 1, 2010 |
Ticker | Â | Â | Monthly Taxable Distribution Per Share | |
 | ||||
JMT | Nuveen Mortgage Opportunity Term Fund 2 | $0.1670 |
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, and Winslow Capital. In total, the Company managed nearly $145 billion as of December 31, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.
Contacts:
Nuveen Investments
Media Contact:
Kristyna Sujata
312-917-8343
KRISTYNA.SUJATA@NUVEEN.COM