Cash Dividend On The Way From Nuveen Dividend Advantage Municipal Fund III's Term Preferred Shares

On 5/13/13, Nuveen Dividend Advantage Municipal Fund III's MuniFund Term Preferred Shares, 2.80% Series 2016 (NYSE: NZF.PRC) will trade ex-dividend, for its monthly dividend of $0.0233, payable on 6/3/13. As a percentage of NZF.PRC's recent share price of $10.11, this dividend works out to approximately 0.23%. On an annualized basis, the current yield is approximately 2.77%, which compares to an average yield of 3.20% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Ch...