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Nuveen Build America Bond Opportunity Fund Declares Initial Distribution

^{Published on 2010-12-16 14:30:35 - Market Wire}
 

CHICAGO--([ BUSINESS WIRE ])--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 Build America Bond Opportunity Fund (NYSE:NBD) of $0.1260 per common share. The fund began trading on the New York Stock Exchange (NYSE) on November 24, 2010. This distribution, based on the $20.00 per share IPO price, reflects an annualized distribution rate of 7.56 percent.

The funda™s primary investment objective is to provide current income through investments in taxable municipal securities, and its secondary objective is to enhance portfolio value and total return. The fund uses leverage to seek to enhance total returns, and intends to implement its leveraging strategy by using investments in inverse floating rate securities, also known as tender option bonds.

Nuveen funds generally seek to pay stable distributions at rates that reflect each funda™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 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 funda™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 funda™s NAV. Each fund will, over time, pay all of its net investment income as distributions to shareholders. The fundsa™ 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 monthsa™ history.

The following dates apply to todaya™s dividend declaration:

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 NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed nearly $163 billion as of September 30, 2010. For more information, please visit the Nuveen Investments website at [ www.nuveen.com ].