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

On 5/13/13, Nuveen California Dividend Advantage Municipal Fund III's MuniFund Term Preferred Shares, 2.25% Series 2014-1 (NYSE: NZH.PRB) will trade ex-dividend, for its monthly dividend of $0.0187, payable on 6/3/13. As a percentage of NZH.PRB's recent share price of $10.08, this dividend works out to approximately 0.19%. On an annualized basis, the current yield is approximately 2.24%, which compares to an average yield of 3.20% in the "ETFs & CEFs" preferred stock category, according to Prefe...