Certain BlackRock closed-end funds (the �Funds�) announced
distributions today as detailed below.
Municipal Funds:
Declaration- � 7/1/2009 � Ex-Date- � 7/13/2009 � Record- �
7/15/2009 � Payable- � 8/3/2009 � National Funds � Ticker �
Dividend �
Change From
Prior Month
� BlackRock Apex Municipal Fund, Inc. APX $0.046500 - BlackRock
Insured Municipal Income Trust BYM $0.068500 - BlackRock Insured
Municipal Income Investment Trust BAF
$0.065500
- BlackRock Insured Municipal Term Trust, Inc.* BMT $0.030417 -
BlackRock Investment Quality Municipal Income Trust RFA $0.057000 -
BlackRock Long-Term Municipal Advantage Trust BTA $0.055000 -
BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.065500 -
BlackRock MuniAssets Fund, Inc. MUA $0.067500 - BlackRock Municipal
2018 Term Trust BPK $0.078000 - BlackRock Municipal 2020 Term Trust
BKK $0.062250 - BlackRock Municipal Bond Trust BBK $0.085000 -
BlackRock Municipal Bond Investment Trust BIE $0.073800 - BlackRock
Municipal Income Trust BFK $0.078600 - BlackRock Municipal Income
Trust II BLE $0.081000 - BlackRock Municipal Income Investment
Trust BBF $0.075375 - BlackRock MuniEnhanced Fund, Inc. MEN
$0.050500 - BlackRock MuniHoldings Fund II, Inc. MUH $0.075500 -
BlackRock MuniHoldings Fund, Inc. MHD $0.083500 - BlackRock
MuniHoldings Insured Fund II, Inc. MUE $0.067500 - BlackRock
MuniHoldings Insured Fund, Inc. MUS $0.066000 - BlackRock
MuniHoldings Insured Investment Fund MFL $0.068000 - BlackRock
MuniVest Fund II, Inc. MVT $0.083500 - BlackRock MuniVest Fund,
Inc. MVF $0.050500 - BlackRock MuniYield Fund, Inc. MYD $0.069000 -
BlackRock MuniYield Insured Fund, Inc. MYI $0.061000 - BlackRock
MuniYield Insured Investment Fund MFT $0.066000 - BlackRock
MuniYield Investment Fund MYF $0.058000 - BlackRock MuniYield
Quality Fund II, Inc. MQT $0.057500 - BlackRock MuniYield Quality
Fund, Inc. MQY $0.067000 - The BlackRock Investment Quality
Municipal Trust, Inc. BKN $0.075500 - The BlackRock Strategic
Municipal Trust BSD $0.070000 - �
State-Specific Funds
� Ticker � Dividend �
Change From
Prior Month
� BlackRock California Insured Municipal Income Trust BCK $0.066000
- BlackRock California Municipal 2018 Term Trust BJZ $0.072000 -
BlackRock California Municipal Bond Trust BZA $0.077000 - BlackRock
California Municipal Income Trust BFZ $0.075700 - BlackRock
California Municipal Income Trust II BCL $0.074500 - BlackRock
MuniHoldings California Insured Fund, Inc. MUC $0.063000 -
BlackRock MuniYield California Fund, Inc. MYC $0.067500 - BlackRock
MuniYield California Insured Fund, Inc. MCA $0.061000 - The
BlackRock California Investment Quality Municipal Trust, Inc. RAA
$0.051500 - BlackRock Florida Municipal 2020 Term Trust, Inc. BFO
$0.056000 - BlackRock Maryland Municipal Bond Trust BZM $0.067900 -
BlackRock Muni New York Intermediate Duration Fund, Inc. MNE
$0.055500 - BlackRock MuniHoldings New York Insured Fund, Inc. MHN
$0.065500 - BlackRock MuniYield New York Insured Fund, Inc. MYN
$0.052500 - BlackRock New York Insured Municipal Income Trust BSE
$0.065500 - BlackRock New York Municipal 2018 Term Trust, Inc. BLH
$0.079000 - BlackRock New York Municipal Bond Trust BQH $0.078000 -
BlackRock New York Municipal Income Trust BNY $0.080000 - BlackRock
New York Municipal Income Trust II BFY $0.077500 - The BlackRock
New York Investment Quality Municipal Trust, Inc. RNY $0.068200 -
BlackRock MuniHoldings New Jersey Insured Fund, Inc. MUJ $0.065500
- BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.070500 -
BlackRock MuniYield New Jersey Insured Fund, Inc. MJI $0.064000 -
BlackRock New Jersey Municipal Bond Trust BLJ $0.075500 - BlackRock
New Jersey Municipal Income Trust BNJ $0.077600 - The BlackRock New
Jersey Investment Quality Municipal Trust RNJ $0.061400 - BlackRock
MuniYield Arizona Fund, Inc. MZA $0.067000 - BlackRock MuniYield
Michigan Insured Fund II, Inc. MYM $0.066500 - BlackRock MuniYield
Michigan Insured Fund, Inc. MIY $0.066500 - BlackRock MuniYield
Pennsylvania Insured Fund MPA $0.065500 - The BlackRock
Pennsylvania Strategic Municipal Trust BPS $0.050000 - BlackRock
Virginia Municipal Bond Trust BHV $0.080000 - Massachusetts Health
& Education Tax-Exempt Trust MHE $0.059000 - � Taxable Funds:
Declaration- � 7/1/2009 � Ex-Date- � 7/13/2009 � Record- �
7/15/2009 � Payable- � 7/31/2009 � Fund � Ticker � Dividend �
Change From
Prior
Dividend
� BlackRock Senior High Income Fund, Inc. ARK $0.025000 - BlackRock
Floating Rate Income Trust* BGT $0.075000 - BlackRock Strategic
Bond Trust BHD $0.069500 - BlackRock Core Bond Trust BHK $0.062000
- BlackRock Defined Opportunity Credit Trust* BHL $0.060000 - The
BlackRock High Yield Trust BHY $0.043500 - The BlackRock Income
Trust, Inc. BKT $0.024000 - BlackRock Limited Duration Income
Trust* BLW $0.082500 - BlackRock Income Opportunity Trust, Inc. BNA
$0.051000 - BlackRock Preferred Opportunity Trust BPP $0.072500 -
BlackRock Preferred and Equity Advantage Trust* BTZ $0.100000 -
BlackRock Corporate High Yield Fund, Inc. COY $0.061000 - BlackRock
Corporate High Yield Fund III, Inc. CYE $0.055000 - BlackRock Debt
Strategies Fund, Inc. DSU $0.035500 - BlackRock Diversified Income
Strategies Fund, Inc.* DVF $0.087500 - BlackRock Enhanced
Government Fund, Inc.* EGF $0.105000 - BlackRock Floating Rate
Income Strategies Fund, Inc.* FRA $0.089835 - BlackRock Floating
Rate Income Strategies Fund II, Inc. FRB $0.093350 - BlackRock High
Income Shares HIS $0.013200 - BlackRock Corporate High Yield Fund
VI, Inc. HYT $0.087500 - BlackRock Corporate High Yield Fund V,
Inc. HYV $0.087500 - BlackRock Preferred and Corporate Income
Strategies Fund, Inc. PSW $0.060000 - BlackRock Preferred Income
Strategies Fund, Inc. PSY $0.075000 -
*In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended, each of the Funds noted
above posted to the DTC bulletin board and sent to their
shareholders as of the applicable record date a Section 19 notice
with the�previous dividend payment.�The Section 19 notice was
provided not for tax reporting purposes, but for informational
purposes only. This information can be found in the �Closed-End
Funds� section of www.blackrock.com. If applicable, the
final determination of the source and tax characteristics of all
distributions in 2009 will be made after the end of the year.
BlackRock Preferred and Equity Advantage Trust (NYSE: BTZ) and
BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) (collectively,
the �Trusts�) have adopted a level distribution plan (the �Plan�)
and employ either a managed distribution or an option over-write
policy to support a level distribution of income, capital gains
and/or return of capital. The fixed amounts distributed per
share are subject to change at the discretion of each Trust�s
Board. Under its Plan, each Trust will distribute all available
investment income to its shareholders, consistent with its primary
investment objectives and as required by the Internal Revenue Code
of 1986, as amended (the �Code�). If sufficient investment income
is not available on a quarterly/monthly basis, the Trusts will
distribute long-term capital gains and or return of capital to
their shareholders in order to maintain a level distribution.
The Trusts� estimated sources of the distributions paid as of
June 30, 2009 and for their current fiscal year are as follows:
�
Estimated Allocation of
Distributions Paid June 30, 2009
Trust � Distribution �
Net Investment
Income
�
Net Realized
Short-Term
Gains
�
Net Realized
Long-Term
Gains
�
Return of Capital
BTZ1 � $0.100000 � $0.083600 (84%) � $0.00 (0%) � $0.00 (0%) �
$0.016400 (16%) EGF � $0.105000 � $0.105000 (100%) � $0.00 (0%) �
$0.00 (0%) � $0.000000 (0%) �
Estimated Allocations for the
fiscal year through June 30, 2009
Trust � Distribution �
Net Investment
Income
�
Net Realized
Short-Term
Gains
�
Net Realized
Long-Term
Gains
� Return of Capital BTZ1 � $1.010000 � $0.690700 (68%) � $0.00 (0%)
� $0.00 (0%) � $0.319300 (32%) EGF � $0.525000 � $0.525000 (100%) �
$0.00 (0%) � $0.00 (0%) � $0.000000 (0%)
1 The Trusts estimate that they have distributed more than their
income and capital gains in the current fiscal year; therefore, a
portion of your distribution may be a return of capital. A return
of capital may occur, for example, when some or all of the
shareholder�s investment is paid back to the shareholder. A return
of capital distribution does not necessarily reflect a Trust's
investment performance, and should not be confused with �yield� or
�income.�
The amounts and sources of distributions reported are only
estimates and are not provided for tax reporting purposes. The
actual amounts and sources of the amounts for tax reporting
purposes will depend upon each Trust�s investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. The Trusts will send you a Form 1099-DIV
for the calendar year that will tell you how to report these
distributions for federal income tax purposes.
�
Trust Performance and
Distribution Rate Information:
Trust � Average annual total return (in relation to NAV) for the
inception to date ending on May 31, 2009 � Current fiscal period's
annualized distribution rate as a percentage of NAV as of May 31,
2009 � Cumulative total return (in relation to NAV) for the fiscal
year through May 31, 2009 � Cumulative fiscal year distribution
rate expressed as a percentage of NAV as of May 31, 2009 BTZ �
(19.99)% � 15.22% � 9.21% � 8.88% EGF � 3.63% � 7.59% � 6.29% �
2.53%
Shareholders should not draw any conclusions about a Trust�s
investment performance from the amount of the Trust�s current
distributions or from the terms of the Trust�s Plan.
About BlackRock
BlackRock is one of the world�s largest publicly traded
investment management firms. At March 31, 2009, BlackRock�s assets
under management were $1.283 trillion. The firm manages assets on
behalf of institutions and individuals worldwide through a variety
of equity, fixed income, cash management and alternative investment
products. In addition, a growing number of institutional investors
use BlackRock Solutions� investment system, risk management and
financial advisory services. The firm is headquartered in New York
City and has employees in 21 countries throughout the U.S., Europe
and Asia Pacific. For additional information, please visit the
firm�s web site at www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock may
make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to
BlackRock�s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified
by words or phrases such as �trend,� �potential,� �opportunity,�
�pipeline,� �believe,� �comfortable,� �expect,� �anticipate,�
�current,� �intention,� �estimate,� �position,� �assume,�
�outlook,� �continue,� �remain,� �maintain,� �sustain,� �seek,�
�achieve,� and similar expressions, or future or conditional verbs
such as �will,� �would,� �should,� �could,� �may� or similar
expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to each Fund, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes in political,
economic or industry conditions, the interest rate environment or
financial and capital markets, which could result in changes in the
Fund�s net asset value; (2) the performance of the Fund�s
investments; (3) the impact of increased competition; (4) the
extent and timing of any distributions or share repurchases; (5)
the impact of legislative and regulatory actions and reforms and
regulatory, supervisory or enforcement actions of government
agencies relating to the Fund or BlackRock, as applicable; (6)
BlackRock�s ability to attract and retain highly talented
professionals; and (7) the impact of legislative and regulatory
actions and reforms and regulatory, supervisory or enforcement
actions of government agencies relating to BlackRock, Barclays PLC,
Bank of America, Merrill Lynch or PNC.
The Annual and Semi-Annual Reports and other regulatory filings
of the Funds with the SEC are accessible on the SEC's website at
www.sec.gov and on BlackRock�s website at
www.blackrock.com, and may discuss these or other factors
that affect the Funds. The information contained on our website is
not a part of this press release.
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