Nuveen California Select Tax-Free Income Portfolio ($NXC) announced its next monthly distribution of 4.55¢ per share, a 4.60% increase over the funds' previous payout of 4.53¢.
As a result, DivGro's projected annual dividend income [PADI] will increase by $57.60, and NXC's contribution to DivGro's PADI will increase to $1,310.40 annually.
The distribution is payable on 29 December 2024 to shareholders of record at the close of business on 15 December 2023. The ex-dividend date is 14 December 2023.
I own 2,400 units of NXC at an average cost basis of $13.40 per unit. Following this increase, my yield on cost is 4.08%. In comparison, NXC's forward yield is 4.35% at $12.56 per unit.
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