MINNEAPOLIS -- (Business Wire)
The closed-end funds listed below, which are advised by U.S. Bancorp
Asset Management, Inc. (NYSE:USB), today declared their August
distributions. The distributions will be allocated on a per-share basis
on the common stock. The distributions have an ex-dividend date of
August 1, 2014 and will be paid on August 20, 2014 to shareholders of
record on August 5, 2014.
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NYSE
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August
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Change from
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Fund | | | Symbol | | | Amount | | | | Previous Month |
American Strategic
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Income Portfolio
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ASP
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$0.0550
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$(0.0025)
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American Strategic
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Income Portfolio II
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BSP
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$0.0475
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$0.0000
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American Strategic
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Income Portfolio III
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CSP
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$0.0400
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$0.0000
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American Select
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Portfolio
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SLA
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$0.0575
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$0.0000
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American Income
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Fund
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MRF
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$0.0400
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$0.0000
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American Municipal
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Income Portfolio
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XAA
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$0.0800
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$0.0000
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NYSE MKT
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August
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Change from
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Fund | | | Symbol | | | Amount | | | | Previous Month |
Minnesota Municipal
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Income Portfolio
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MXA
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$0.0715
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$(0.0025)
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Minnesota Municipal
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Income Fund II
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MXN
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$0.0600
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$(0.0025)
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ASP, BSP, CSP and SLA distributions are payable in cash or, pursuant to
the funds’ dividend reinvestment plans, reinvested in additional shares
of the funds’ common stock. Under each fund’s plan, fund shares will be
purchased on the open market when the price of the fund’s shares on the
New York Stock Exchange plus per share fees is less than a 5% premium
over the fund’s most recently calculated net asset value per share. If,
at the close of business on the dividend payment date, the shares
purchased in the open market are insufficient to satisfy the dividend
reinvestment requirement, payment of the dividend, or the remaining
portion, will be accepted in authorized but unissued shares of the fund.
These shares will be issued at a per-share price equal to the higher of
(a) the net asset value per share as of the close of business on the
payment date or (b) 95% of the closing market price per share on the
payment date.
MRF distributions are payable in cash or, pursuant to the fund’s
dividend reinvestment plan, reinvested in additional shares of the
fund’s common stock. If you participate in the plan, you will receive
the equivalent in shares of the fund as follows: (1) if the market price
of the shares on the payment date of the dividend or distribution is
equal to or exceeds the fund’s net asset value, participants will be
issued fund shares at the higher of net asset value or 95% of the market
price; or (2) if the market price is lower than net asset value, the
plan agent will receive the dividend or capital gain distributions in
cash and apply them to buy fund shares on your behalf in the open
market, on the New York Stock Exchange or elsewhere, for your account.
If the market price exceeds the net asset value of the fund’s shares
before the plan agent has completed its purchases, the average per-share
purchase price paid by the plan agent August exceed the net asset value
of the fund’s shares. This would result in the acquisition of fewer
shares than if the dividend or capital gain distributions had been paid
in shares issued by the fund.
XAA, MXA and MXN distributions are payable in cash or, pursuant to the
funds’ dividend reinvestment plans, reinvested in additional shares of
the funds’ common stock. Under each fund’s plan, fund shares will be
purchased on the exchange on which the fund is listed or elsewhere on
the open market.
During certain periods, each fund August pay distributions at a rate
that August be more or less than the amount of net investment income
actually earned by the fund during the period. Each fund will provide a
notice, as required by Section 19(a) of the Investment Company Act of
1940, as amended, for any distribution that does not consist solely of
net investment income. Any such notice will provide information
regarding the estimated amounts of the distribution derived from net
investment income, net realized capital gains and return of capital.
Such notices will be for informational purposes only and the amounts
indicated in such notices likely will differ from the ultimate federal
income tax characterization of distributions reported to shareholders on
Form 1099-DIV after year end.
Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as
investment advisor to the First American Closed-End Funds. A subsidiary
of U.S. Bank National Association, U.S. Bancorp Asset Management focuses
on providing investment management services to institutional clients,
including corporations, public entities and nonprofits. It has combined
assets under management of more than $53 billion as of June 30, 2014.
First American Closed-End Funds are subadvised by Nuveen Fund Advisors,
Inc. and Nuveen Asset Management, LLC.
U.S. Bank National Association is a separate entity and wholly owned
subsidiary of U.S. Bancorp, the fifth-largest commercial bank in the
United States, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
Investment products, including shares of closed-end funds, are not
obligations of, or guaranteed by, any bank, including U.S. Bank or any
U.S. Bancorp affiliate, nor are they insured by the Federal Deposit
Insurance Corporation, the Federal Reserve Board, or any other agency.
An investment in such products involves investment risk, including
possible loss of principal.
Contacts:
U.S. Bancorp Asset Management, Inc.
Investor Services
800.677.3863
Source: U.S. Bancorp Asset Management, Inc.
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