Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. BlackRock Global
Opportunities Equity Trust (NYSE:BOE) announced a dividend
reduction. This dividend reduction takes into account BOE’s
relatively high previous distribution level, the current level of
BOE’s net assets and current and projected levels of dividend
income, option premiums and volatility in the market.
Municipal
Funds:
Declaration- 11/1/2012 Ex-Date- 11/13/2012 Record-
11/15/2012 Payable- 12/3/2012 National Funds
Ticker Distribution
Change From Prior
Distribution
BlackRock Municipal Income Quality Trust BYM $0.078000 - BlackRock
Municipal Income Investment Quality Trust BAF $0.068500 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.062000 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.071500 - BlackRock
MuniAssets Fund, Inc. MUA $0.062500 - BlackRock Municipal 2020 Term
Trust BKK $0.062250 - BlackRock Municipal Bond Trust BBK $0.083500
- BlackRock Municipal Bond Investment Trust BIE $0.078000 -
BlackRock Municipal Income Trust BFK $0.080100 - BlackRock
Municipal Income Trust II BLE $0.085000 - BlackRock Municipal
Income Investment Trust BBF $0.072375 - BlackRock Municipal Target
Term Trust* BTT $0.099000 - BlackRock MuniEnhanced Fund, Inc. MEN
$0.058000 - BlackRock MuniHoldings Fund II, Inc. MUH $0.083000 -
BlackRock MuniHoldings Fund, Inc. MHD $0.091500 - BlackRock
MuniHoldings Quality Fund II, Inc. MUE $0.070500 - BlackRock
MuniHoldings Quality Fund, Inc. MUS $0.074000 - BlackRock
MuniHoldings Investment Quality Fund MFL $0.076500 - BlackRock
MuniVest Fund II, Inc. MVT $0.091000 - BlackRock MuniVest Fund,
Inc. MVF $0.059000 - BlackRock MuniYield Fund, Inc. MYD $0.083500 -
BlackRock MuniYield Quality Fund III, Inc. MYI $0.072000 -
BlackRock MuniYield Investment Quality Fund MFT $0.071000 -
BlackRock MuniYield Investment Fund MYF $0.079000 - BlackRock
MuniYield Quality Fund II, Inc. MQT $0.069500 - BlackRock MuniYield
Quality Fund, Inc. MQY $0.080000 - The BlackRock Investment Quality
Municipal Trust, Inc. BKN $0.080000 - The BlackRock Strategic
Municipal Trust BSD $0.074000 -
State-Specific Funds
Ticker Distribution
Change From Prior
Distribution
BlackRock California Municipal Income Trust BFZ $0.077700 -
BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.079000
- BlackRock MuniYield California Fund, Inc. MYC $0.079000 -
BlackRock MuniYield California Quality Fund, Inc. MCA $0.076000 -
BlackRock Florida Municipal 2020 Term Trust BFO $0.056000 -
BlackRock Maryland Municipal Bond Trust BZM $0.066500 - BlackRock
Muni New York Intermediate Duration Fund, Inc. MNE $0.062500 -
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.076500 -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.071000 -
BlackRock New York Municipal Income Quality Trust BSE $0.071500 -
BlackRock New York Municipal Bond Trust BQH $0.071000 - BlackRock
New York Municipal Income Trust BNY $0.075000 - BlackRock New York
Municipal Income Trust II BFY $0.077000 - BlackRock MuniHoldings
New Jersey Quality Fund, Inc. MUJ $0.074000 - BlackRock MuniYield
New Jersey Fund, Inc. MYJ $0.074000 - BlackRock MuniYield New
Jersey Quality Fund, Inc. MJI $0.072000 - BlackRock New Jersey
Municipal Bond Trust BLJ $0.073000 - BlackRock New Jersey Municipal
Income Trust BNJ $0.081100 - BlackRock MuniYield Arizona Fund, Inc.
MZA $0.069500 - BlackRock MuniYield Michigan Quality Fund II, Inc.
MYM $0.069000 - BlackRock MuniYield Michigan Quality Fund, Inc. MIY
$0.076500 - BlackRock MuniYield Pennsylvania Quality Fund MPA
$0.074000 - The BlackRock Pennsylvania Strategic Municipal Trust
BPS $0.071000 - BlackRock Virginia Municipal Bond Trust BHV
$0.078000 - Massachusetts Health & Education Tax-Exempt Trust
MHE $0.062500 -
Taxable Municipal
Fund:
Declaration- 11/1/2012
Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 11/30/2012
Fund
Ticker Distribution
Change From Prior
Distribution
BlackRock Build America Bond Trust* BBN $0.131800 -
Taxable
Funds:
Declaration- 11/1/2012
Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 11/30/2012
Fund Ticker Distribution
Change From Prior
Distribution
BlackRock Senior High Income Fund, Inc. ARK $0.025000 - BlackRock
Floating Rate Income Trust BGT $0.077500 - BlackRock Strategic Bond
Trust BHD $0.084500 - BlackRock Core Bond Trust BHK $0.073000 -
BlackRock Defined Opportunity Credit Trust BHL $0.068500 - The
BlackRock High Yield Trust BHY $0.044500 - The BlackRock Income
Trust, Inc. BKT $0.040500 - BlackRock Limited Duration Income Trust
BLW $0.107500 - BlackRock Income Opportunity Trust, Inc. BNA
$0.057000 - BlackRock Credit Allocation Income Trust III BPP
$0.063500 - BlackRock Credit Allocation Income Trust IV* BTZ
$0.078500 - BlackRock Corporate High Yield Fund, Inc. COY $0.051000
- BlackRock Corporate High Yield Fund III, Inc. CYE $0.052500 -
BlackRock Debt Strategies Fund, Inc. DSU $0.027000 - BlackRock
Enhanced Government Fund, Inc.* EGF $0.070000 - BlackRock Floating
Rate Income Strategies Fund, Inc.* FRA $0.077000 - BlackRock High
Income Shares HIS $0.015200 - BlackRock Corporate High Yield Fund
VI, Inc. HYT $0.087500 - BlackRock Corporate High Yield Fund V,
Inc. HYV $0.090000 - BlackRock Credit Allocation Income Trust I,
Inc. PSW $0.059500 - BlackRock Credit Allocation Income Trust II,
Inc. PSY $0.061000 -
Equity
Funds:
Declaration- 11/1/2012
Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 11/30/2012
Fund Ticker Dividend Change From Prior
Distribution
BlackRock Global Opportunities Equity Trust* BOE $0.311650
-$0.098350 BlackRock S&P Quality Rankings Global Equity Managed
Trust* BQY $0.250000 - BlackRock Utility and Infrastructure Trust*
BUI $0.362500 -
* 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 of record as of the applicable record date a Section
19 notice with the previous dividend payment. The Section
19 notice was provided for informational purposes only and not for
tax reporting purposes. This information can be found in the
“Closed-End Funds” section of www.blackrock.com. As
applicable, the final determination of the source and tax
characteristics of all distributions in 2012 will be made after the
end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), BlackRock
Global Opportunities Equity Trust (NYSE:BOE), BlackRock S&P
Quality Rankings Global Equity Managed Trust (NYSE AMEX:BQY) and
BlackRock Utility and Infrastructure Trust (NYSE:BUI)
(collectively, the “Plan Funds”) have adopted a level distribution
plan (a “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 Plan Fund’s Board of Directors/Trustees. Under its Plan,
each Plan Fund 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.
If sufficient investment income is not available on a
quarterly/monthly basis, each Plan Fund will distribute long-term
capital gains and/or return capital to its shareholders in order to
maintain a level distribution.
The Plan Funds’ estimated sources of the distributions paid as
of August 31, 2012 or October 31, 2012, as applicable, and for
their current fiscal year are as follows:
Estimated Allocations as of October 31, 2012
Plan
Net Investment
Net Realized
Net Realized
Fund
Distribution
Income
Short-Term Gains
Long-Term Gains
Return of Capital EGF1 $0.070000 $0.046478
(66%) $0 (0%) $0 (0%) $0.023522 (34%)
Estimated Allocations as of August 31, 2012
Plan
Net Investment
Net Realized
Net Realized
Fund
Distribution
Income
Short-Term Gains
Long-Term Gains
Return of Capital
BOE1 $0.410000 $0.059138 (14%) $0 (0%)
$0 (0%) $0.350862 (86%) BQY1 $0.250000
$0.080065 (32%) $0.069192 (28%) $0.075465 (30%)
$0.025278 (10%) BUI1 $0.362500 $0.209247 (58%)
$0 (0%) $0 (0%) $0.153253 (42%)
Estimated Allocations for the fiscal
year through October 31, 2012
Plan
Net Investment
Net Realized
Net Realized
Fund
Distribution
Income
Short-Term Gains
Long-Term Gains
Return of Capital EGF1 $0.630000 $0.518507
(82%) $0 (0%) $0 (0%) $0.111493 (18%)
Estimated Allocations for the fiscal year through August 31,
2012
Plan
Net Investment
Net Realized
Net Realized
Fund
Distribution
Income
Short-Term Gains
Long-Term Gains
Return of Capital BOE1 $1.957500 $0.186576
(10%) $0 (0%) $0 (0%) $1.770924 (90%) BQY1
$1.270000 $0.279292 (22%) $0.680904 (54%)
$0.236565 (19%) $0.073239 (5%) BUI1 $1.087500
$0.444708 (41%) $0.038022 (3%) $0 (0%)
$0.604770 (56%)
1 The Plan Fund estimates that it has distributed more than its
income and capital gains in the current fiscal year; therefore, a
portion of the 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 Plan Fund’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 Plan Fund’s investment experience
during the remainder of its fiscal year and may be subject to
changes based on tax regulations. Each Plan Fund will send
shareholders a Form 1099-DIV for the calendar year that will tell
shareholders how to report distributions for federal income tax
purposes.
Plan Fund Performance and Distribution Rate Information:
Average annual total Annualized current
Cumulative fiscal
return (in relation to
distribution rate
Cumulative total return
year distributions
NAV) for the 5- year
expressed as a
(in relation to NAV) for
as a percentage
Plan
period ending
percentage of NAV as
the fiscal year through
of NAV as of
Fund
on 09/30/2012 of 09/30/2012
09/30/2012
09/30/2012
EGF 5.34% 5.17% 3.76% 3.44% BOE
(0.51)% 11.19% 7.58% 13.36% BQY (0.51)%
7.50% 10.30% 9.52%
BUI *
12.74% 7.31% 10.72% 5.48%
* Portfolio launched within the past 5 years; this represents
the average annual total return (in relation to NAV) from inception
to 9/30/2012.
Shareholders should not draw any conclusions about a Plan
Fund’s investment performance from the amount of the Plan Fund’s
current distributions or from the terms of the Plan Fund’s
Plan.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2012, BlackRock’s AUM was $3.673
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 September 30, 2012, the firm
has approximately 10,400 employees in 29 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 BlackRock’s website at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Funds or 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 the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Funds or
in a Fund’s net asset value; (2) the relative and absolute
investment performance of a Fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to a Fund or BlackRock, as applicable; (8) terrorist activities,
international hostilities and natural disasters, which may
adversely affect the general economy, domestic and local financial
and capital markets, specific industries or BlackRock; (9)
BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide
support to its products from time to time; and (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of a
Fund 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 BlackRock’s website is not a part of this press
release.
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