Nuveen Dividend Advantage Municipal Income Fund announces an Equity Buyback for 2,964,170 shares, representing 10% of its issued and outstanding shares.

Nuveen Dividend Advantage Municipal Income Fund (AMEX:NVG) announces a share repurchase program. Under the tender offer, the company will repurchase up to 2,964,170 shares, representing 10% of its issued and outstanding shares. The shares will be repurchased at a price equal to 98% of the fund's net asset value per share as of the close of ordinary trading on the New York Stock Exchange on September 19, 2014.

The fund intends to first use cash on hand to pay for shares tendered, and then intends to sell portfolio securities to raise any additional cash needed for the repurchase of the shares. The fund will not borrow money to finance the repurchase of shares in the offer. The shares will be repurchased for cash.

If more than 10% of the common shares are tendered and not withdrawn, any repurchases will be made on a pro rata basis. The offer will be valid till September 19, 2014, unless extended. As of August 11, 2014 there were 29,641,700 shares issued and outstanding.

Georgeson Inc. acted as the information agent and Computershare Trust Company, N.A. acted as the broker to the company.