Certain BlackRock closed-end funds (the “Funds”) announced
January monthly distributions and special distributions today as
detailed below.
Regular January Distributions
Taxable Municipal Fund:
Declaration- 12/20/2011 Ex-Date- 12/28/2011
Record- 12/30/2011
Payable- 1/9/2012 Fund Ticker
Distribution Change From Prior Distribution
BlackRock Build America Bond Trust BBN $0.129800 -
Taxable Funds:
Declaration- 12/20/2011 Ex-Date- 12/28/2011
Record- 12/30/2011
Payable- 1/9/2012 Fund Ticker
Distribution Change From Prior Distribution
BlackRock Senior High Income Fund, Inc. ARK $0.025000 - BlackRock
Floating Rate Income Trust BGT $0.077500 - BlackRock Strategic Bond
Trust BHD $0.084500 - BlackRock Core Bond Trust BHK $0.067000 -
BlackRock Defined Opportunity Credit Trust BHL $0.066000 - The
BlackRock High Yield Trust BHY $0.043500 - The BlackRock Income
Trust, Inc. BKT $0.040500 - BlackRock Limited Duration Income Trust
BLW $0.105000 - BlackRock Income Opportunity Trust, Inc. BNA
$0.053000 - BlackRock Credit Allocation Income Trust III BPP
$0.063500 - BlackRock Credit Allocation Income Trust IV BTZ
$0.078500 - BlackRock Corporate High Yield Fund, Inc. COY $0.051000
- BlackRock Corporate High Yield Fund III, Inc. CYE $0.051000 -
BlackRock Debt Strategies Fund, Inc. DSU $0.027000 - BlackRock
Diversified Income Strategies Fund, Inc. DVF $0.058500 - BlackRock
Enhanced Government Fund, Inc.* EGF $0.070000 - BlackRock Floating
Rate Income Strategies Fund, Inc. FRA $0.077000 - BlackRock
Floating Rate Income Strategies Fund II, Inc. FRB $0.073000 -
BlackRock High Income Shares HIS $0.014200 - BlackRock Corporate
High Yield Fund VI, Inc. HYT $0.083500 - BlackRock Corporate High
Yield Fund V, Inc. HYV $0.086000 - BlackRock Credit Allocation
Income Trust I, Inc. PSW $0.059500 - BlackRock Credit Allocation
Income Trust II, Inc. PSY $0.061000 -
Special Distributions
Declaration- 12/20/2011 Ex-Date- 12/28/2011
Record- 12/30/2011 Payable-
1/9/2012 Fund Ticker
Special Distribution BlackRock Senior High Income
Fund, Inc. ARK $0.031000 BlackRock Floating Rate Income Trust BGT
$0.165000 BlackRock Strategic Bond Trust BHD $0.070000 BlackRock
Limited Duration Income Trust BLW $0.065000 BlackRock Corporate
High Yield Fund III, Inc. CYE $0.024000 BlackRock High Income
Shares HIS $0.031000 BlackRock Corporate High Yield Fund VI, Inc.
HYT $0.023000 BlackRock Corporate High Yield Fund V, Inc. HYV
$0.025000 BlackRock Credit Allocation Income Trust I, Inc. PSW
$0.028000
* 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 their
shareholders as of the applicable record date a Section 19 notice
with the previous distribution payment. The Section 19
notice was provided not for tax reporting purposes but for
informational purposes only. This information can be found in the
“Closed-End Funds” section of www.blackrock.com. If
applicable, the final determination of the source and tax
characteristics of all distributions in 2011 will be made after the
end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) (“EGF”) 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 EGF’s Board. Under its Plan, EGF
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. If
sufficient investment income is not available on a
quarterly/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 distribution paid this month and
for its current fiscal year are as follows:
Estimated Allocations as of 12/19/2011
Net Investment
Net Realized Net Realized
Fund Distribution
Income Short-Term Gains
Long-Term Gains Return of
Capital EGF1 $0.070000
$0.05959 (85%) $0.00 (0%)
$0.00 (0%) $0.01041 (15%)
Estimated Allocations for the fiscal year through 12/19/2011
Net Investment Net Realized Net
Realized Fund Distribution
Income Short-Term Gains
Long-Term Gains Return of Capital EGF1
$0.850000 $0.676367 (80%)
$0.00 (0%) $0.00 (0%)
$0.173633 (20%)
1 The Fund estimates that it has distributed more than its
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 EGF’s investment experience during the
remainder of its fiscal year and may be subject to changes based on
tax regulations. EGF 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:
Average annual
total
return (in Annualized current Cumulative total Cumulative fiscal
relation to NAV) for distribution rate return (in relation year
distributions the 5-year period expressed as a to NAV) for the as a
percentage of ending on percentage of NAV as fiscal year through
NAV as of November Fund November 30, 2011
of November 30, 2011
November 30, 2011 30, 2011 EGF
4.55% 5.19% 3.68%
4.82%
Shareholders should not draw any conclusions about EGF’s
investment performance from the amount of EGF’s current
distributions or from the terms of EGF’s Plan.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2011, BlackRock’s AUM was $3.345
trillion. BlackRock offers products that span the risk spectrum to
meet clients’ needs, including active, enhanced and index
strategies across markets and asset classes. Products are offered
in a variety of structures including 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®.
Headquartered in New York City, as of September 30, 2011, the firm
has approximately 10,200 employees in 27 countries and a major
presence in key global markets, including North and South America,
Europe, Asia, Australia, and the Middle East and Africa. 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 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 Fund or in
the Fund’s net asset value; (2) the relative and absolute
investment performance of the 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 recently approved
Dodd-Frank Wall Street Reform and Consumer Protection Act, and
regulatory, supervisory or enforcement actions of government
agencies relating to the 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) BlackRock’s success in maintaining
secondary market support for the Fund; (11) the impact of BlackRock
electing to provide support to its products from time to time; (12)
the impact of problems at other financial institutions or the
failure or negative performance of products at other financial
institutions; and (13) the ability of BlackRock to integrate the
operations of Barclays Global Investors.
The 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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