Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. BlackRock Municipal 2020
Term Trust (NYSE:BKK) today announced the early declaration of
regular monthly distributions for February, March, and April 2019.
The applicable dates and amounts are detailed below.
Municipal
Funds:
Declaration- 1/2/2019 Ex-Date- 1/14/2019 Record- 1/15/2019 Payable-
2/1/2019
National
Funds
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Municipal Income Quality Trust BYM $0.052000 - BlackRock
Municipal Income Investment Quality Trust BAF $0.058500 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.050500 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.044500 - BlackRock
Municipal Income Investment Trust* BBF $0.058000 - BlackRock
MuniAssets Fund, Inc. MUA $0.054500 - BlackRock Municipal Bond
Trust BBK $0.063500 - BlackRock Municipal Income Trust BFK
$0.058500 - BlackRock Municipal Income Trust II BLE $0.058000 -
BlackRock Investment Quality Municipal Trust, Inc. BKN $0.057000 -
BlackRock Municipal 2030 Target Term Trust BTT $0.062400 - The
BlackRock Strategic Municipal Trust BSD $0.057000 - BlackRock
MuniEnhanced Fund, Inc. MEN $0.048000 - BlackRock MuniHoldings
Investment Quality Fund MFL $0.056500 - BlackRock MuniYield
Investment Quality Fund MFT $0.059000 - BlackRock MuniHoldings
Fund, Inc. MHD $0.067500 - BlackRock MuniYield Quality Fund II,
Inc. MQT $0.048000 - BlackRock MuniYield Quality Fund, Inc. MQY
$0.056000 - BlackRock MuniHoldings Quality Fund II, Inc.* MUE
$0.049000 - BlackRock MuniHoldings Fund II, Inc. MUH $0.061500 -
BlackRock MuniHoldings Quality Fund, Inc. MUS $0.050500 - BlackRock
MuniVest Fund II, Inc. MVT $0.063500 - BlackRock MuniYield Fund,
Inc. MYD $0.059000 - BlackRock MuniYield Investment Fund* MYF
$0.062000 - BlackRock MuniYield Quality Fund III, Inc. MYI
$0.050500 - BlackRock MuniVest Fund, Inc. MVF $0.038500 - BlackRock
Municipal 2020 Term Trust BKK $0.031800 -
State-Specific
Funds
Ticker
Distribution
Change From
Prior
Distribution
BlackRock MuniHoldings California Quality
Fund, Inc.
MUC
$0.047500
-
BlackRock California Municipal Income Trust BFZ $0.044500 -
BlackRock MuniYield California Fund, Inc. MYC $0.052000 - BlackRock
MuniYield California Quality Fund, Inc. MCA $0.052000 - BlackRock
Florida Municipal 2020 Term Trust BFO $0.026000 - BlackRock
Maryland Municipal Bond Trust BZM $0.047400 - BlackRock MuniYield
Michigan Quality Fund, Inc. MIY $0.052000 - BlackRock Muni New York
Intermediate Duration Fund, Inc. MNE $0.040000 - BlackRock
MuniHoldings New York Quality Fund, Inc. MHN $0.044500 - BlackRock
MuniYield New York Quality Fund, Inc. MYN $0.042500 - BlackRock New
York Municipal Income Quality Trust* BSE $0.040500 - BlackRock New
York Municipal Bond Trust BQH $0.046000 - BlackRock New York
Municipal Income Trust BNY $0.044500 - BlackRock New York Municipal
Income Trust II BFY $0.049000 - BlackRock MuniHoldings New Jersey
Quality Fund, Inc. MUJ $0.052500 - BlackRock MuniYield New Jersey
Fund, Inc. MYJ $0.060500 - BlackRock MuniYield Pennsylvania Quality
Fund* MPA $0.053000 - BlackRock MuniYield Arizona Fund, Inc. MZA
$0.047000 - BlackRock Virginia Municipal Bond Trust BHV $0.053500 -
BlackRock Massachusetts Tax-Exempt Trust MHE $0.044000 -
Equity
Funds:
Declaration- 1/2/2019 Ex-Date- 1/14/2019
Record-1/15/2019 Payable- 1/31/2019
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Resources & Commodities Strategy Trust* BCX $0.051600
- BlackRock Enhanced Equity Dividend Trust* BDJ $0.046700 -
BlackRock Energy and Resources Trust* BGR $0.077600 - BlackRock
Enhanced International Dividend Trust* BGY $0.033800 - BlackRock
Health Sciences Trust* BME $0.200000 - BlackRock Enhanced Capital
and Income Fund, Inc.* CII $0.082800 - BlackRock Enhanced Global
Dividend Trust* BOE $0.063000 - BlackRock Utilities, Infrastructure
& Power Opportunities Trust* BUI $0.121000 - BlackRock Science
and Technology Trust* BST $0.150000 -
Early Declaration of Regular Monthly
Distributions for BKK:
February 2019 Distribution: Declaration- 1/2/2019 Ex-Date-
2/14/2019 Record- 2/15/2019 Payable- 3/1/2019
March 2019 Distribution:
Declaration- 1/2/2019
Ex-Date- 3/14/2019
Record- 3/15/2019 Payable- 4/1/2019
April 2019 Distribution:
Declaration- 1/2/2019
Ex-Date- 4/12/2018
Record- 4/15/2019 Payable- 4/30/2019
Monthly Per-Share Distribution Amount:
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Municipal 2020 Term Trust BKK $0.031800 -
* In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended (the “1940 Act”), 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 2019
will be made after the end of the year.
BlackRock Resources & Commodities Strategy Trust (NYSE:BCX),
BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ), BlackRock
Energy and Resources Trust (NYSE:BGR), BlackRock Enhanced
International Dividend Trust (NYSE:BGY), BlackRock Health Sciences
Trust (NYSE:BME), BlackRock Enhanced Global Dividend Trust
(NYSE:BOE), BlackRock Utilities, Infrastructure & Power
Opportunities Trust (NYSE:BUI), BlackRock Enhanced Capital and
Income Fund, Inc. (NYSE:CII), and BlackRock Science and Technology
Trust (NYSE:BST) (collectively, the “Plan Funds”) have adopted a
managed distribution plan (a “Plan”) and employ 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 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
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 December 31, 2018 and for their current fiscal year are as
follows:
Estimated Allocations as of December 31, 2018 Fund
Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BCX1 $0.051600 $0.014594 (28%) $0 (0%) $0
(0%) $0.037006 (72%) BDJ $0.046700 $0.015620 (33%) $0 (0%)
$0.031080 (67%) $0 (0%) BGR1 $0.077600 $0.047140 (61%) $0 (0%) $0
(0%) $0.030460 (39%) BGY $0.033800 $0.011633 (34%) $0 (0%)
$0.022167 (66%) $0 (0%) BME1 $0.200000 $0.012197 (6%) $0 (0%)
$0.064060 (32%) $0.123743 (62%) BOE1 $0.063000 $0.023312 (37%) $0
(0%) $0 (0%) $0.039688 (63%) BUI1 $0.121000 $0.055756 (46%) $0 (0%)
$0 (0%) $0.065244 (54%) CII1 $0.082800 $0.020317 (25%) $0 (0%) $0
(0%) $0.062483 (75%) BST $0.230278 $0 (0%) $0 (0%) $0.230278 (100%)
$0 (0%)
Estimated Allocations for the Fiscal Year
through December 31, 2018 Fund Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BCX1 $0.619200 $0.209697 (34%) $0 (0%) $0
(0%) $0.409503 (66%) BDJ $0.560400 $0.177394 (32%) $0 (0%)
$0.383006 (68%) $0 (0%) BGR1 $0.931200 $0.272552 (29%) $0 (0%) $0
(0%) $0.658648 (71%) BGY $0.443400 $0.162370 (37%) $0 (0%)
$0.281030 (63%) $0 (0%) BME1 $2.400000 $0.069995 (3%) $0 (0%)
$1.590526 (66%) $0.739479 (31%) BOE1 $0.846000 $0.295560 (35%) $0
(0%) $0 (0%) $0.550440 (65%) BUI1 $1.452000 $0.474884 (33%) $0 (0%)
$0 (0%) $0.977116 (67%) CII1 $0.993600 $0.165678 (17%) $0 (0%)
$0.128622 (13%) $0.699300 (70%) BST $1.760278 $0 (0%) $0 (0%)
$1.760278 (100%) $0 (0%)
1The Plan Fund estimates that it has distributed more than its
income and net-realized 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 the Plan Fund's investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the Plan Fund’s net
asset value per share.
The amounts and sources of distributions reported are only
estimates and are being provided to you pursuant to regulatory
requirements and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon each Fund’s investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. The Fund 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.
Fund Performance and Distribution Rate Information:
Fund
Average annual totalreturn (in relation
toNAV) for the 5-yearperiod ending on11/30/2018
Annualized currentdistribution
rateexpressed as apercentage of NAV asof 11/30/2018
Cumulative total return(in relation to
NAV) forthe fiscal year through11/30/2018
Cumulative fiscalyear distributionsas a
percentageof NAV as of11/30/2018
BCX (0.25)% 7.19% (10.59)% 6.59% BDJ 8.25% 6.25% 1.15% 5.73% BGR
(5.39)% 7.40% (10.71)% 6.79% BGY 0.28% 6.92% (8.26)% 6.99% BME
13.43% 6.51% 15.56% 5.97% BOE 3.36% 6.68% (4.29)% 6.92% BUI 6.73%
7.48% (1.16)% 6.85% CII 9.78% 6.30% 3.42% 5.78% BST* 16.95% 10.28%
7.14% 5.69%
*Portfolio launched within the past 5 years; the performance and
distribution rate information presented for this Fund reflects data
from inception to 11/30/2018.
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 a Plan Fund’s
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, 2018, the firm
managed approximately $6.44 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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