Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. Several municipal Funds
announced a decrease in their monthly distribution rates.
Generally, these distribution changes were made in order to better
align the applicable Funds’ distribution rates with their current
and projected level of earnings. In addition, several municipal
Funds declared special distributions.
Municipal Funds:
Declaration- 12/1/2017 Ex-Date- 12/11/2017 Record-
12/12/2017 Payable- 12/29/2017
National
Funds
Ticker
Distribution
Change
FromPrior
Distribution
BlackRock Municipal Income Quality Trust BYM $0.060000 - BlackRock
Municipal Income Investment Quality Trust BAF $0.068500 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.054500 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.049500 - BlackRock
Municipal Income Investment Trust* BBF $0.066500 (0.005900)
BlackRock MuniAssets Fund, Inc. MUA $0.054500 (0.003000) BlackRock
Municipal Bond Trust BBK $0.063500 - BlackRock Municipal Income
Trust BFK $0.065000 - BlackRock Municipal Income Trust II BLE
$0.065000 - BlackRock Investment Quality Municipal Trust, Inc. BKN
$0.062000 - BlackRock Municipal 2030 Target Term Trust BTT
$0.071800 - The BlackRock Strategic Municipal Trust BSD $0.065000 -
BlackRock MuniEnhanced Fund, Inc. MEN $0.048000 (0.008500)
BlackRock MuniHoldings Investment Quality Fund MFL $0.071500 -
BlackRock MuniYield Investment Quality Fund MFT $0.067000 -
BlackRock MuniHoldings Fund, Inc. MHD $0.074500 - BlackRock
MuniYield Quality Fund II, Inc. MQT $0.054000 - BlackRock MuniYield
Quality Fund, Inc. MQY $0.063000 (0.009500) BlackRock MuniHoldings
Quality Fund II, Inc. MUE $0.064000 - BlackRock MuniHoldings Fund
II, Inc. MUH $0.067500 - BlackRock MuniHoldings Quality Fund, Inc.
MUS $0.063500 - BlackRock MuniVest Fund II, Inc. MVT $0.073000 -
BlackRock MuniYield Fund, Inc. MYD $0.067000 - BlackRock MuniYield
Investment Fund MYF $0.069500 (0.008500) BlackRock MuniYield
Quality Fund III, Inc. MYI $0.058500 (0.009500) BlackRock MuniVest
Fund, Inc. MVF $0.046000 -
State-Specific
Funds
Ticker
Distribution
Change
FromPrior
Distribution
BlackRock California Municipal Income Trust* BFZ $0.055000
(0.004500) BlackRock MuniHoldings California Quality Fund, Inc. MUC
$0.053500 (0.008000) BlackRock MuniYield California Fund, Inc. MYC
$0.062000 - BlackRock MuniYield California Quality Fund, Inc. MCA
$0.058500 - BlackRock Florida Municipal 2020 Term Trust BFO
$0.026000 (0.005000) BlackRock Municipal 2020 Term Trust BKK
$0.039500 - BlackRock Maryland Municipal Bond Trust BZM $0.047400 -
BlackRock MuniYield Michigan Quality Fund, Inc. MIY $0.057000
(0.007000) BlackRock Muni New York Intermediate Duration Fund, Inc.
MNE $0.044500 - BlackRock MuniHoldings New York Quality Fund, Inc.
MHN $0.050500 (0.007500) BlackRock MuniYield New York Quality Fund,
Inc. MYN $0.047500 (0.006500) BlackRock New York Municipal Income
Quality Trust BSE $0.046500 (0.005500) BlackRock New York Municipal
Bond Trust BQH $0.059000 - BlackRock New York Municipal Income
Trust BNY $0.050500 (0.009500) BlackRock New York Municipal Income
Trust II BFY $0.061000 - BlackRock MuniYield New Jersey Fund, Inc.
MYJ $0.075000 - BlackRock MuniHoldings New Jersey Quality Fund,
Inc. MUJ $0.059500 (0.008000) BlackRock New Jersey Municipal Income
Trust BNJ $0.063500 (0.006100) BlackRock MuniYield Pennsylvania
Quality Fund MPA $0.062300 - BlackRock New Jersey Municipal Bond
Trust BLJ $0.061500 - BlackRock MuniYield Arizona Fund, Inc. MZA
$0.062000 - BlackRock Virginia Municipal Bond Trust BHV $0.063000 -
BlackRock Massachusetts Tax-Exempt Trust MHE $0.053000 -
Taxable Municipal Fund:
Declaration- 12/1/2017 Ex-Date- 12/11/2017 Record-
12/12/2017 Payable- 12/19/2017
Fund
Ticker
Distribution
Change
FromPrior
Distribution
BlackRock Taxable Municipal Bond Trust BBN $0.131800 -
Taxable Funds:
Declaration- 12/1/2017 Ex-Date- 12/11/2017 Record-
12/12/2017 Payable- 12/19/2017
Fund
Ticker
Distribution
Change
FromPrior
Distribution
BlackRock Floating Rate Income Trust BGT $0.058300 - BlackRock Core
Bond Trust BHK $0.065000 - BlackRock Multi-Sector Income Trust* BIT
$0.116700 - BlackRock Income Trust, Inc. BKT $0.026500 - BlackRock
Limited Duration Income Trust BLW $0.079500 - BlackRock Credit
Allocation Income Trust* BTZ $0.067000 - BlackRock Debt Strategies
Fund, Inc. DSU $0.068500 - BlackRock Enhanced Government Fund, Inc.
* EGF $0.041000 - BlackRock Floating Rate Income Strategies Fund,
Inc. FRA $0.061000 - BlackRock Corporate High Yield Fund, Inc. HYT
$0.070000 - BlackRock 2022 Global Income Opportunity Trust BGIO
$0.050000 -
Special Distributions
Declaration- 12/1/2017 Ex-Date- 12/11/2017 Record-
12/12/2017 Payable- 12/29/2017
Fund Ticker
Taxable NetInvestmentIncome
Short-TermCapital Gain
Long-TermCapital Gain
BlackRock Investment Quality Municipal Trust, Inc. BKN $0.000657 -
$0.153901 BlackRock Long-Term Municipal Advantage Trust BTA
$0.000811 - - BlackRock Maryland Municipal Bond Trust BZM $0.000266
$0.002398 $0.037504 BlackRock Muni Intermediate Duration Fund, Inc.
MUI $0.001471 - $0.001553 BlackRock MuniAssets Fund, Inc. MUA
$0.003343 - - BlackRock Municipal 2020 Term Trust BKK - - $0.002933
BlackRock Municipal 2030 Target Term Trust BTT $0.000383 - -
BlackRock Municipal Bond Trust BBK $0.004380 - - BlackRock
Municipal Income Trust BFK $0.000622 - - BlackRock Municipal Income
Trust II BLE $0.000789 - - BlackRock MuniEnhanced Fund, Inc. MEN
$0.005133 - - BlackRock MuniHoldings Fund II, Inc. MUH $0.002020
$0.003431 $0.004877 BlackRock MuniHoldings Fund, Inc. MHD $0.001420
$0.004439 $0.008899 BlackRock MuniHoldings New Jersey Quality Fund,
Inc. MUJ $0.000678 - - BlackRock MuniHoldings New York Quality
Fund, Inc. MHN $0.001244 - - BlackRock MuniVest Fund II, Inc. MVT
$0.002480 - - BlackRock MuniVest Fund, Inc. MVF $0.001430 - -
BlackRock MuniYield California Fund, Inc. MYC $0.000042 $0.014039
$0.045402 BlackRock MuniYield Fund, Inc. MYD $0.000255 - -
BlackRock MuniYield Investment Fund MYF $0.000741 - - BlackRock
MuniYield Michigan Quality Fund, Inc. MIY $0.003918 - - BlackRock
MuniYield New York Quality Fund, Inc. MYN $0.001528 - - BlackRock
MuniYield Pennsylvania Quality Fund MPA $0.001071 - - BlackRock
MuniYield Quality Fund II, Inc. MQT $0.001693 - - BlackRock
MuniYield Quality Fund III, Inc. MYI $0.005121 - - BlackRock
MuniYield Quality Fund, Inc. MQY $0.000325 - - BlackRock New Jersey
Municipal Income Trust BNJ $0.002194 - - BlackRock New York
Municipal Income Trust BNY $0.002541 - - The BlackRock Strategic
Municipal Trust BSD $0.001900 - - BlackRock Virginia Municipal Bond
Trust BHV $0.021545 - -
* 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 its shareholders
of record as of the applicable record date a Section 19 notice with
the previous distribution 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 2017 will be made after the
end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) has adopted
a level distribution plan, consistent with its investment objective
and policies, to support a level distribution of income, capital
gains, and/or return of capital (the “Plan”). The fixed amount
distributed per share is subject to change at the discretion of
EGF’s Board of Directors. Under the Plan, EGF will distribute
all available investment income to its shareholders, consistent
with its investment objective and as required by the Internal
Revenue Code of 1986, as amended. If sufficient investment income
is not available on a monthly basis, EGF will distribute long-term
capital gains and/or return capital to its shareholders in order to
maintain a level distribution.
EGF’s estimated sources of the distributions paid as of November
30, 2017 and for its current fiscal year are as follows:
Estimated Allocations as of November 30, 2017 Fund
Distribution
Net InvestmentIncome
Net RealizedShort-TermGains
Net RealizedLong-TermGains
Return of Capital
EGF1 $0.041000 $0.023705 (58%) $0 (0%)
$0 (0%) $0.017295 (42%)
Estimated Allocations for the Fiscal Year through November 30,
2017 Fund
Distribution
Net InvestmentIncome
Net RealizedShort-TermGains
Net RealizedLong-TermGains
Return of Capital
EGF1 $0.410000 $0.270427 (66%) $0 (0%)
$0 (0%) $0.139573 (34%)
1 EGF estimates that it has distributed more than its income and
net realized 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 a shareholder’s
investment is paid back to the shareholder. A return of capital
distribution does not necessarily reflect EGF’s investment
performance and should not be confused with ‘yield’ or ‘income’.
When distributions exceed total return performance, the difference
will reduce EGF’s net asset value per share.
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 EGF’s investment experience during the
remainder of its fiscal year and may be subject to changes based on
tax regulations. EGF will send its shareholders a Form 1099-DIV for
the calendar year that will illustrate how these distributions
should be reported for federal income tax purposes.
EGF Performance and Distribution Rate Information:
Fund
Average annual totalreturn (in relation
toNAV) for the 5-yearperiod ending on11/30/2017
Annualized currentdistribution
rateexpressed as apercentage of NAV asof 11/30/2017
Cumulative total return(in relation to
NAV) forthe fiscal year through11/30/2017
Cumulative fiscalyear distributionsas a
percentageof NAV as of11/30/2017
EGF 1.60% 3.52% 3.74% 2.64%
Shareholders should not draw any conclusions about EGF’s
investment performance from the amount of EGF’s current
distributions or from the terms of the Plan.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to our clients, we provide the investment and technology
solutions they need when planning for their most important goals.
As of September 30, 2017, the firm manages approximately $5.977
trillion in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit www.blackrock.com | Twitter:
@blackrock | Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the
Funds on a monthly basis on its website in the “Closed-end Funds”
section of www.blackrock.com as well as certain other material
information as necessary from time to time. Investors and others
are advised to check the website for updated performance
information and the release of other material information about the
Funds. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the Funds and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to a Fund’s 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
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 BlackRock’s website is not a part of this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20171201005744/en/
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