The Board of Directors of BlackRock Corporate High Yield Fund,
Inc. (NYSE: HYT, CUSIP: 09255P107) (the “Fund”) today announced the
early declaration of a regular monthly distribution for October.
Shares of the Fund acquired after October 3, 2022 will not be
entitled to the distribution. We expect that the Fund will declare
its November distribution on November 1, 2022.
Declaration- 9/8/2022 Ex-Date- 10/4/2022 Record- 10/5/2022
Payable-10/31/2022
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Corporate High Yield Fund,
Inc.*
HYT
$0.077900
-
* In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended (the “1940 Act”), the
Fund 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 2022 will be made after the end of the year.
The Fund has adopted a managed distribution plan (the “Plan”).
The fixed amounts distributed per share are subject to change at
the discretion of the Fund’s Board of Directors. Under the
Plan, the 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
(the “Code”). If sufficient investment income is not available on a
monthly basis, the Fund will distribute long-term capital gains
and/or return capital to its shareholders in order to maintain a
level distribution.
The estimated sources of the Fund’s distribution as of September
8, 2022, which does not include the upcoming September 14, 2022
Ex-Date, and for its current fiscal year are as follows:
Estimated Allocations as of September
8, 2022
Fund
Distribution
Net Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
HYT
$0.077900
$0.052346 (67%)
$0 (0%)
$0 (0%)
$0.025554 (33%)
Estimated Allocations for the Fiscal
Year through September 8, 2022
Fund
Distribution
Net Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
HYT
$0.545300
$0.449336 (82%)
$0 (0%)
$0 (0%)
$0.095964 (18%)
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 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 total return (in
relation to NAV) for the 5-year period ending on 7/31/2022
Annualized current distribution
rate expressed as a percentage of NAV as of 7/31/2022
Cumulative total return (in
relation to NAV) for the fiscal year through 7/31/2022
Cumulative fiscal year
distributions as a percentage of NAV as of 7/31/2022
HYT
4.45%
9.22%
-11.52%
4.61%
Shareholders should not draw any conclusions about the Fund’s
investment performance from the amount of the Fund’s current
distributions or from the terms of the Plan.
The amount distributed per share under the Plan is subject to
change at the discretion of the Fund’s Board. The Plan will be
subject to ongoing review by the Board to determine whether the
Plan should be continued, modified or terminated. The Board may
amend the terms of the Plan or suspend or terminate the Plan at any
time without prior notice to the Fund’s shareholders if it deems
such actions to be in the best interest of the Fund or its
shareholders. The amendment or termination of the Plan could have
an adverse effect on the market price of the Fund’s shares.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate | Twitter:
@blackrock | LinkedIn: www.linkedin.com/company/blackrock
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Fundor 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 Fund, 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 Fundor in
the Fund’s net asset value; (2) the relative and absolute
investment performance of the Fundand 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 reformsand regulatory, supervisory or
enforcement actions of government agencies relating to the Fundor
BlackRock, as applicable; (8) terrorist activities, international
hostilities, health epidemics and/or pandemics 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 Fundwith 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 Fund. The information
contained on BlackRock’s website is not a part of this press
release.
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