Co-produced by Stanford Chemist
Nuveen Credit Strategies Income Fund (JQC) knows its 14.62% distribution rate is unsustainable over the long-term. However, this is all a part of their three-year plan to return 20% of capital back to shareholders' pockets. This is through a "supplemental amounts" to its monthly distribution. They took on this action to help close the gap of their persistent discount and increase the fund's "competitiveness."
Along with this capital return plan, JQC has been buying back a large amount of shares and retiring them.
(Source - Consolidated Annual Report)
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