BlackRock Preferred & Equity
Advantage Trust (NYSE: BTZ) and BlackRock Enhanced Government Fund,
Inc. (NYSE: EGF) paid the following dividends per share:
Ticker
Pay Date Per Share BTZ July 31, 2009 $
0.100000 EGF July 31, 2009 $ 0.105000
Each of the Funds has adopted a level distribution plan (the
“Plan”) and employs 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 Fund’s Board. Under its Plan, each 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
quarterly/monthly basis, the Funds will distribute long-term
capital gains and or return of capital to their shareholders in
order to maintain a level distribution.
The Funds’ estimated sources of the
distributions paid this month and for their current fiscal years
are as follows:
Estimated Allocations as of July 31, 2009 Fund
Distribution Net Investment Income Net Realized
Short-Term Gains Net Realized Long-Term Gains Return
of Capital BTZ1 $ 0.100000 $0.053500 (54%)
$0.00 (0%) $0.00 (0%) $0.046500 (46%) EGF $
0.105000 $0.105000 (100%) $0.00 (0%) $0.00
(0%) $0.000000 (0%)
Estimated Allocations for the
fiscal year through July 31, 2009
Fund Distribution Net Investment Income Net
Realized Short-Term Gains Net Realized Long-Term Gains
Return of Capital BTZ1 $ 1.110000 $0.744200
(67%) $0.00 (0%) $0.00 (0%) $0.365800 (33%)
EGF $ 0.630000 $0.630000 (100%) $0.00 (0%)
$0.00 (0%) $0.000000 (0%)
1The Funds estimate that they have
distributed more than their income and 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 a 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 Fund’s
investment experience during the remainder of its fiscal year and
may be subject to changes based on tax regulations. The Funds 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) from
inception to June 30, 2009 Current fiscal period's
annualized distribution rate as a percentage of NAV as of June 30,
2009 Cumulative total return (in relation to NAV) for the
fiscal year through June 30, 2009 Cumulative fiscal year
distribution rate expressed as a percentage of NAV as of June 30,
2009 BTZ (17.68)% 11.21% 15.17% 9.44%
EGF 3.51% 7.65% 6.13% 3.19%
Shareholders should not draw any
conclusions about a Fund’s investment performance from the amount
of the Fund’s current distributions or from the terms of the Fund’s
Plan.
About BlackRock
BlackRock is one of the world’s largest publicly traded
investment management firms. At June 30, 2009, BlackRock’s assets
under management were $1.373 trillion. The firm manages assets on
behalf of institutions and individuals worldwide through a variety
of equity, fixed income, cash management and alternative investment
products. In addition, a growing number of institutional investors
use BlackRock Solutions® investment system, risk management and
financial advisory services. The firm is headquartered in New York
City and has employees in 21 countries throughout the U.S., Europe
and Asia Pacific. For additional information, please visit the
firm's website at www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock may
make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to
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 each Fund, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes in political,
economic or industry conditions, the interest rate environment or
financial and capital markets, which could result in changes in the
Fund’s net asset value; (2) the performance of the Fund’s
investments; (3) the impact of increased competition; (4) the
extent and timing of any distributions or share repurchases; (5)
the impact of legislative and regulatory actions and reforms and
regulatory, supervisory or enforcement actions of government
agencies relating to the Fund or BlackRock, as applicable; (6)
BlackRock’s ability to attract and retain highly talented
professionals; and (7) the impact of legislative and regulatory
actions and reforms and regulatory, supervisory or enforcement
actions of government agencies relating to BlackRock, Barclays PLC,
Bank of America, Merrill Lynch or PNC.
The Annual and Semi-Annual Reports and other regulatory filings
of the Funds with the 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 our website is
not a part of this press release.
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