NBB
Nuveen Taxable Municipal Income Fund15.90
-0.13-0.81%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
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Last Quarter (Q3 '25)
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Key Stats
Market Cap
467.38MP/E (TTM)
44.17Basic EPS (TTM)
0.36Dividend Yield
0%Recent Filings
8-K
By-laws drop control share rules
Nuveen Taxable Municipal Income Fund eliminated its suspended 'control share' provisions from the by-laws on February 28, 2024, via board adoption. Previously inactive since February 24, 2022, these rules had limited shareholder voting on large stakes. The update streamlines governance without other changes. No impact on operations disclosed.
8-K
Fund board consolidates for efficiencies
Nuveen Taxable Municipal Income Fund announced board consolidation across its fund complex on October 13, 2023, effective January 1, 2024, to streamline oversight and cut costs for shareholders. The board shrinks to 12 members, appointing four independent trustees from TIAA-CREF funds—Joseph A. Boateng, Michael A. Forrester, Thomas J. Kenny, and Loren M. Starr—while Jack B. Evans and William C. Hunter retire December 31. This unification promises efficiencies in vendor negotiations and marketing, boosting investor engagement. Yet, transitions carry oversight risks.
8-K
Suspends control share by-law
On February 24, 2022, the Board of Trustees of Nuveen Taxable Municipal Income Fund and other Nuveen closed-end funds amended their by-laws to suspend the control share provision, following a U.S. District Court ruling on February 18 that it violated the 1940 Act. The provision, adopted in 2020 to shield against opportunistic hedge fund takeovers like Saba Capital's, will reinstate if the Board prevails on appeal, which it plans to pursue. This move safeguards long-term shareholder interests against short-term activism. Boards act decisively.
8-K
Nuveen funds amend by-laws
On October 5, 2020, Nuveen Taxable Municipal Income Fund and numerous affiliated closed-end funds adopted amended and restated by-laws to tighten shareholder proposal deadlines and introduce control share provisions. These changes set new advance notice windows for 2021 annual meetings, varying by fund between December 2020 and April 2021, while requiring shareholder approval for voting rights on shares exceeding 10% ownership thresholds. Boards aim to shield long-term investors from short-term opportunists. Procedural hurdles now guard against undue influence.
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