BlackRock Advisors, LLC announced today that the Boards of
Directors/Trustees of twenty BlackRock taxable and equity
closed-end funds (the “Funds”) have authorized the renewal of open
market share repurchase programs (the “Repurchase Programs”). Under
each Fund’s current Repurchase Program, each Fund may repurchase,
through November 30, 2017, up to 5% of its outstanding common
shares (based on common shares outstanding on November 30, 2016 for
each Fund other than BlackRock Debt Strategies Fund, Inc. (“DSU”)
and based on common shares outstanding on October 28, 2016 for DSU)
in open market transactions. Pursuant to the Board’s renewal of the
Repurchase Programs, commencing on December 1, 2017, each Fund may
repurchase up to 5% of its outstanding common shares (based on
common shares outstanding on November 30, 2017 for each Fund) in
open market transactions through November 30, 2018. The Repurchase
Programs seek to enhance shareholder value by purchasing Fund
shares trading at a discount from their net asset value per
share.
The Funds that have authorized the renewal of a Repurchase
Program are as follows:
Ticker
Fund
CUSIP BBN
BlackRock Taxable Municipal Bond Trust
09248X100 BCX BlackRock Resources &
Commodities Strategy Trust 09257A108 BDJ
BlackRock Enhanced Equity Dividend Trust
09251A104 BGR BlackRock
Energy and Resources Trust 09250U101 BGT
BlackRock Floating Rate Income Trust
091941104 BGY BlackRock Enhanced
International Dividend Trust 092524107 BHK
BlackRock Core Bond Trust
09249E101 BIT BlackRock Multi-Sector Income
Trust 09258A107 BKT
BlackRock Income Trust, Inc. 09247F100 BLW
BlackRock Limited Duration Income Trust
09249W101 BME BlackRock Health
Sciences Trust 09250W107 BOE
BlackRock Enhanced Global Dividend Trust
092501105 BST BlackRock Science and
Technology Trust 09258G104 BTZ
BlackRock Credit Allocation Income Trust
092508100 BUI BlackRock Utility and
Infrastructure Trust 09248D104 CII
BlackRock Enhanced Capital and Income Fund, Inc.
09256A109 DSU BlackRock
Debt Strategies Fund, Inc. 09255R202 EGF
BlackRock Enhanced Government Fund, Inc.
09255K108 FRA BlackRock
Floating Rate Income Strategies Fund, Inc.
09255X100 HYT BlackRock Corporate High Yield
Fund, Inc. 09255P107
The amount and timing of any repurchases under each Fund’s
Repurchase Program will be determined either at the discretion of
the Fund’s management or pursuant to predetermined parameters and
instructions subject to market conditions. There is no assurance
that any Fund will repurchase shares in any particular amounts. A
Fund’s repurchase activity will be disclosed in its shareholder
report for the relevant fiscal period. Any repurchases made under
any Fund Repurchase Program will be made on a national security
exchange at the prevailing market price, subject to exchange
requirements and certain volume and timing limitations and other
regulations under federal securities laws.
About BlackRock
BlackRock is a global leader in investment management, risk
management and advisory services for institutional and retail
clients. At June 30, 2017, BlackRock’s AUM was $5.7 trillion.
BlackRock helps clients around the world meet their goals and
overcome challenges with a range of products that include 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®. As of June
30, 2017, the firm had approximately 13,000 employees in more than
30 countries and a major presence in global markets, including
North and South America, Europe, Asia, Australia and the Middle
East and Africa. For additional information, please visit the
Company’s website at www.blackrock.com | Twitter: @blackrock_news |
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/20170906006813/en/
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