Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below.
Two of the Funds announced dividend adjustments this month.
BlackRock S&P Quality Rankings Global Equity Managed Trust
(NYSE AMEX:BQY) announced a dividend increase. This increase takes
into account BQY’s earnings potential in light of the changes to
its investment strategy announced on February 16, 2010 and BQY’s
increased use of its option-writing strategy to enhance current
gains. BlackRock Insured Municipal Term Trust Inc. (NYSE:BMT)
announced a dividend reduction. BMT is a term trust that matures on
or about December 31, 2010. BMT’s dividend reduction reflects its
earnings potential as well as its efforts to seek its investment
objective of returning $10 per common share (the initial public
offering price per common share) to common shareholders at
maturity.
Municipal Funds: Declaration- 8/2/2010
Ex-Date- 8/12/2010 Record- 8/16/2010 Payable- 9/1/2010 National
Funds Ticker Dividend Change
From Prior
Dividend
BlackRock Apex Municipal Fund, Inc. APX $0.044000 - BlackRock
Insured Municipal Income Trust BYM $0.074000 - BlackRock Insured
Municipal Income Investment Trust BAF $0.073500 - BlackRock Insured
Municipal Term Trust Inc. BMT $0.005000 -$0.010000 BlackRock
Investment Quality Municipal Income Trust RFA $0.070000 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.059500 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.068000 - BlackRock
MuniAssets Fund, Inc. MUA $0.062500 - 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 $0.078800 - 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
$0.057000 - BlackRock MuniHoldings Fund II, Inc. MUH $0.080500 -
BlackRock MuniHoldings Fund, Inc. MHD $0.086000 - BlackRock
MuniHoldings Insured Fund II, Inc. MUE $0.073500 - BlackRock
MuniHoldings Insured Fund, Inc. MUS $0.074000 - BlackRock
MuniHoldings Insured Investment Fund MFL $0.073000 - BlackRock
MuniVest Fund II, Inc. MVT $0.086000 - BlackRock MuniVest Fund,
Inc. MVF $0.056000 - BlackRock MuniYield Fund, Inc. MYD $0.080000 -
BlackRock MuniYield Insured Fund, Inc. MYI $0.071000 - BlackRock
MuniYield Insured Investment Fund MFT $0.071000 - BlackRock
MuniYield Investment Fund MYF $0.075000 - BlackRock MuniYield
Quality Fund II, Inc. MQT $0.067000 - BlackRock MuniYield Quality
Fund, Inc. MQY $0.077000 - The BlackRock Investment Quality
Municipal Trust, Inc. BKN $0.084000 - The BlackRock Strategic
Municipal Trust BSD $0.072500 -
State-Specific Funds
Ticker Dividend Change From Prior
Dividend
BlackRock California Municipal Income Trust BFZ $0.075700 -
BlackRock California Municipal 2018 Term Trust BJZ $0.072000 -
BlackRock MuniHoldings California Insured Fund, Inc. MUC $0.070500
- BlackRock MuniYield California Fund, Inc. MYC $0.072000 -
BlackRock MuniYield California Insured Fund, Inc. MCA $0.068000 -
The BlackRock California Investment Quality Municipal Trust, Inc.
RAA $0.058000 - BlackRock Florida Municipal 2020 Term Trust, Inc.
BFO $0.056000 - BlackRock Maryland Municipal Bond Trust BZM
$0.079000 - BlackRock Muni New York Intermediate Duration Fund,
Inc. MNE $0.058000 - BlackRock MuniHoldings New York Insured Fund,
Inc. MHN $0.078000 - BlackRock MuniYield New York Insured Fund,
Inc. MYN $0.070000 - BlackRock New York Insured Municipal Income
Trust BSE $0.070500 - BlackRock New York Municipal 2018 Term Trust
BLH $0.082000 - BlackRock New York Municipal Bond Trust BQH
$0.080500 - BlackRock New York Municipal Income Trust BNY $0.082500
- BlackRock New York Municipal Income Trust II BFY $0.082000 - The
BlackRock New York Investment Quality Municipal Trust, Inc. RNY
$0.073000 - BlackRock MuniHoldings New Jersey Insured Fund, Inc.
MUJ $0.073000 - BlackRock MuniYield New Jersey Fund, Inc. MYJ
$0.070500 - BlackRock MuniYield New Jersey Insured Fund, Inc. MJI
$0.072000 - BlackRock New Jersey Municipal Bond Trust BLJ $0.078000
- BlackRock New Jersey Municipal Income Trust BNJ $0.077600 - The
BlackRock New Jersey Investment Quality Municipal Trust RNJ
$0.065500 - BlackRock MuniYield Arizona Fund, Inc. MZA $0.069500 -
BlackRock MuniYield Michigan Insured Fund II, Inc. MYM $0.071500 -
BlackRock MuniYield Michigan Insured Fund, Inc. MIY $0.075000 -
BlackRock MuniYield Pennsylvania Insured Fund MPA $0.072000 - The
BlackRock Pennsylvania Strategic Municipal Trust BPS $0.072500 -
BlackRock Virginia Municipal Bond Trust BHV $0.081500 -
Massachusetts Health & Education Tax-Exempt Trust MHE $0.070000
- Taxable Funds: Declaration- 8/2/2010
Ex-Date- 8/12/2010 Record- 8/16/2010 Payable- 8/31/2010 Fund
Ticker Dividend Change From Prior
Dividend
BlackRock Senior High Income Fund, Inc. ARK $0.025000 - BlackRock
Floating Rate Income Trust BGT $0.070000 - BlackRock Strategic Bond
Trust BHD $0.077000 - BlackRock Core Bond Trust BHK $0.067000 -
BlackRock Defined Opportunity Credit Trust BHL $0.064000 - The
BlackRock High Yield Trust* BHY $0.043500 - The BlackRock Income
Trust, Inc. BKT $0.024000 - BlackRock Limited Duration Income Trust
BLW $0.085000 - BlackRock Income Opportunity Trust, Inc. BNA
$0.051000 - BlackRock Credit Allocation Income Trust III* BPP
$0.066500 - BlackRock Credit Allocation Income Trust IV* BTZ
$0.079000 - BlackRock Corporate High Yield Fund, Inc. COY $0.051000
- BlackRock Corporate High Yield Fund III, Inc. CYE $0.050000 -
BlackRock Debt Strategies Fund, Inc. DSU $0.029000 - BlackRock
Diversified Income Strategies Fund, Inc.* DVF $0.068500 - BlackRock
Enhanced Government Fund, Inc.* EGF $0.080000 - BlackRock Floating
Rate Income Strategies Fund, Inc. FRA $0.077000 - BlackRock
Floating Rate Income Strategies Fund II, Inc.* FRB $0.075000 -
BlackRock High Income Shares HIS $0.014200 - BlackRock Corporate
High Yield Fund VI, Inc. HYT $0.082500 - BlackRock Corporate High
Yield Fund V, Inc. HYV $0.082500 - BlackRock Credit Allocation
Income Trust I, Inc.* PSW $0.057000 - BlackRock Credit Allocation
Income Trust II, Inc.* PSY $0.063500 - Equity Funds:
Declaration- 8/2/2010 Ex-Date- 8/12/2010 Record- 8/16/2010
Payable- 8/31/2010 Fund Ticker Dividend
Change From Prior
Dividend
BlackRock Global Opportunities Equity Trust* BOE $0.568750 -
BlackRock S&P Quality Rankings Global Equity Managed Trust* BQY
$0.250000 $0.062500
* 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 2010 will be made after the end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), BlackRock
Global Opportunities Equity Trust (NYSE:BOE) and BlackRock S&P
Quality Rankings Global Equity Managed Trust (NYSE AMEX:BQY)
(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 Trust will distribute long-term
capital gains and or return capital to its shareholders in order to
maintain a level distribution.
The Trusts’ estimated sources of the distributions paid as of
July 30, 2010 or May 28, 2010, as applicable, and for their current
fiscal year are as follows:
Estimated Allocations as of July 30, 2010
Trust Distribution
Net Investment
Income
Net Realized
Short-Term Gains
Net Realized
Long-Term Gains
Return of Capital
EGF1 $0.080000 $0.05091 (64%) $0.00 (0%)
$0.00 (0%) $0.02909 (36%)
Estimated Allocations as of May 28, 2010
Trust Distribution
Net Investment
Income
Net Realized
Short-Term Gains
Net Realized
Long-Term Gains
Return of Capital BOE1 $0.568750 $0.03013 (5%)
$0.00 (0%) $0.00 (0%) $0.53862 (95%) BQY
$0.187500 $0.08290 (44%) $0.08550 (46%)
$0.01910 (10%) $0.00 (0%)
Estimated Allocations
for the fiscal year through July 30, 2010. Trust
Distribution
Net Investment
Income
Net Realized
Short-Term Gains
Net Realized
Long-Term Gains
Return of Capital EGF1 $0.505000 $0.33777
(67%) $0.00 (0%) $0.00 (0%) $0.16723 (33%)
Estimated Allocations for the fiscal year through May 28,
2010 Trust Distribution
Net Investment
Income
Net Realized
Short-Term Gains
Net Realized
Long-Term Gains
Return of Capital BOE1 $1.706250 $0.11575 (7%)
$0.00 (0%) $0.00 (0%) $1.59050 (93%) BQY
$0.562500 $0.20960 (37%) $0.20880 (37%)
$0.14410 (26%) $0.00 (0%)
1 The Trust estimates that it has distributed more than its
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 the Trust’s investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. The Trust 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)
from inception
to June 30, 2010
Annualized current
distribution rate
expressed as a
percentage of NAV as
of June 30, 2010
Cumulative total
return (in relation to NAV)
for the fiscal year
through June 30, 2010
Cumulative fiscal
year distributions
as a percentage
of NAV as of
June 30, 2010
EGF 4.85% 5.73% 3.51% 2.54% BOE
4.03% * 13.69% -2.11% 10.27% BQY 1.23%
* 6.02% -2.42% 4.52%
* Five year total return (in relation to NAV) as of June 30,
2010.
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 a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At June 30, 2010, BlackRock’s AUM was $3.151 trillion.
BlackRock offers products that span the risk spectrum to meet
clients’ needs, including active, enhanced and index strategies
across markets and asset classes. Products are offered in a variety
of structures including separate accounts, mutual funds, iShares®
(exchange traded funds), and other pooled investment vehicles.
BlackRock also offers risk management, advisory and enterprise
investment system services to a broad base of institutional
investors through BlackRock Solutions®. Headquartered in New York
City, as of June 30, 2010, the firm has approximately 8,500
employees in 24 countries and a major presence in key global
markets, including North and South America, Europe, Asia, Australia
and the Middle East and Africa. For additional information, please
visit the firm’s website 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; and (6)
BlackRock’s ability to attract and retain highly talented
professionals.
The Annual and Semi-Annual Reports and other regulatory filings
of the Funds with the Securities and Exchange Commission (“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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