Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. In addition, BlackRock Core
Bond Trust (NYSE: BHK) declared a special distribution.
Taxable Fixed Income
Funds:
Declaration- 12/20/2021 Ex-Date- 12/30/2021 Record- 12/31/2021
Payable- 1/11/2022
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Floating Rate Income Trust*
BGT
$0.064700
-
BlackRock Core Bond Trust
BHK
$0.074600
-
BlackRock Multi-Sector Income Trust*
BIT
$0.123700
-
BlackRock Income Trust, Inc.*
BKT
$0.034400
-
BlackRock Limited Duration Income
Trust*
BLW
$0.098100
-
BlackRock Credit Allocation Income
Trust
BTZ
$0.083900
-
BlackRock Debt Strategies Fund, Inc.*
DSU
$0.060500
-
BlackRock Enhanced Government Fund,
Inc.*
EGF
$0.041000
-
BlackRock Floating Rate Income Strategies
Fund, Inc.*
FRA
$0.066700
-
BlackRock Corporate High Yield Fund,
Inc.*
HYT
$0.077900
-
Taxable Municipal Fund:
Declaration- 12/20/2021 Ex-Date- 12/30/2021 Record- 12/31/2021
Payable- 1/11/2022
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Taxable Municipal Bond
Trust*
BBN
$0.122900
-
Special Distributions:
Declaration- 12/20/2021 Ex-Date- 12/30/2021 Record- 12/31/2021
Payable- 1/11/2022
Fund
Ticker
Short-Term
Capital Gain
Long-Term
Capital Gain
BlackRock Core Bond Trust
BHK
$0.062386
$0.092614
* 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 2021 will be made after the
end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) , BlackRock
Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate
Income Strategies Fund, Inc. (NYSE:FRA), BlackRock Floating Rate
Income Trust (NYSE:BGT), BlackRock Corporate High Yield Fund, Inc.
(NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ),
BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core
Bond Trust (NYSE:BHK), and BlackRock Multi-Sector Income Trust
(NYSE:BIT) (collectively, the “Plan Funds”) have adopted a managed
distribution plan (a “Plan”) 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 Funds’ estimated sources of the distributions paid this
month and for their current fiscal year are as follows:
Estimated Allocations as of December
20, 2021
Fund
Distribution
Net Income
Net Realized Short- Term
Gains
Net Realized Long- Term Gains
Return of Capital
EGF1
$0.041000
$0.022629 (55%)
$0 (0%)
$0 (0%)
$0.018371 (45%)
DSU1
$0.060500
$0.048115 (80%)
$0 (0%)
$0 (0%)
$0.012385 (20%)
FRA1
$0.066700
$0.051780 (78%)
$0 (0%)
$0 (0%)
$0.014920 (22%)
BGT1
$0.064700
$0.051960 (80%)
$0 (0%)
$0 (0%)
$0.012740 (20%)
HYT1
$0.077900
$0.063399 (81%)
$0 (0%)
$0 (0%)
$0.014501 (19%)
BTZ1
$0.083900
$0.071361 (85%)
$0 (0%)
$0 (0%)
$0.012539 (15%)
BLW1
$0.098100
$0.078400 (80%)
$0 (0%)
$0 (0%)
$0.019700 (20%)
BHK
$0.074600
$0.074600 (100%)
$0 (0%)
$0 (0%)
$0 (0%)
BIT1
$0.123700
$0.082657 (67%)
$0 (0%)
$0 (0%)
$0.041043 (33%)
Estimated Allocations for the Fiscal
Year through December 20, 2021
Fund
Distribution
Net Income
Net Realized Short- Term
Gains
Net Realized Long- Term Gains
Return of Capital
EGF1
$0.451000
$0.294618 (65%)
$0 (0%)
$0 (0%)
$0.156382 (35%)
DSU1
$0.665500
$0.586122 (88%)
$0 (0%)
$0 (0%)
$0.079378 (12%)
FRA1
$0.733700
$0.633552 (86%)
$0 (0%)
$0 (0%)
$0.100148 (14%)
BGT1
$0.711700
$0.620328 (87%)
$0 (0%)
$0 (0%)
$0.091372 (13%)
HYT1
$0.856900
$0.721634 (84%)
$0 (0%)
$0 (0%)
$0.135266 (16%)
BTZ1
$0.922900
$0.829632 (90%)
$0 (0%)
$0 (0%)
$0.093268 (10%)
BLW1
$1.079100
$0.959037 (89%)
$0 (0%)
$0 (0%)
$0.120063 (11%)
BHK
$0.820600
$0.820600 (100%)
$0 (0%)
$0 (0%)
$0 (0%)
BIT1
$0.247400
$0.156501 (63%)
$0 (0%)
$0 (0%)
$0.090899 (37%)
1The 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 Fund's investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the 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:
Trust
Average annual total return (in
relation to NAV) for the 5-year period ending on 11/30/2021
Annualized current distribution
rate expressed as a percentage of NAV as of 11/30/2021
Cumulative total return (in
relation to NAV) for the fiscal year through 11/30/2021
Cumulative fiscal year
distributions as a percentage of NAV as of 11/30/2021
EGF
2.14%
3.83%
(0.55)%
3.19%
DSU
6.37%
6.29%
5.38%
5.24%
FRA
5.08%
5.78%
5.44%
4.82%
BGT
5.01%
5.78%
5.42%
4.81%
HYT
8.73%
7.91%
5.41%
6.59%
BTZ
8.24%
6.66%
1.71%
5.55%
BLW
6.97%
7.19%
2.44%
5.99%
BHK
8.14%
5.66%
0.71%
4.72%
BIT
8.20%
8.47%
(1.82)%
0.71%
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.
BKT and BBN have adopted a Plan whereby the Fund will make fixed
monthly distributions to common stockholders and will distribute
all available net income to its stockholders, consistent with its
investment objective and as required by the Code. The fixed
amount distributed per share is subject to change at the discretion
of BKT and BBN’s Board. If sufficient net income is not
available on a monthly basis, a Fund will distribute long-term
capital gains and/or return capital to its stockholders in order to
maintain a level distribution. BKT and BBN are currently not
relying on any exemptive relief from Section 19(b) of the
Investment Company Act of 1940, as amended (the “1940 Act”). Each
Fund expects that distributions under the Plan will exceed current
income and capital gains and therefore will likely include a return
of capital. BKT and BBN may make additional distributions from time
to time, including additional capital gain distributions at the end
of the taxable year, if required to meet requirements imposed by
the Code and/or the 1940 Act.
BKT and BBN’s estimated sources of the distributions paid as of
December 20th 2021 and for its current fiscal year are as
follows:
Estimated Allocations as of December
20, 2021
Fund
Distribution
Net Income
Net Realized Short- Term
Gains
Net Realized Long- Term Gains
Return of Capital
BKT
$0.034400
$0.021562 (63%)
$0 (0%)
$0 (0%)
$0.012838 (37%)
BBN
$0.122900
$0.106407 (87%)
$0 (0%)
$0 (0%)
$0.016493 (13%)
Estimated Allocations for the Fiscal
Year through December 20, 2021
Fund
Distribution
Net Income
Net Realized Short- Term
Gains
Net Realized Long- Term Gains
Return of Capital
BKT
$0.378400
$0.285313 (75%)
$0 (0%)
$0 (0%)
$0.093087 (25%)
BBN
$0.602700
$0.540102 (90%)
$0 (0%)
$0 (0%)
$0.062598 (10%)
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 BKT and BBN’s investment experience
during the remainder of its fiscal year and may be subject to
changes based on tax regulations. BKT and BBN will send its
stockholders a Form 1099-DIV for the calendar year that will
illustrate 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 11/30/2021
Annualized current distribution
rate expressed as a percentage of NAV as of 11/30/2021
Cumulative total return (in
relation to NAV) for the fiscal year through 11/30/2021
Cumulative fiscal year
distributions as a percentage of NAV as of 11/30/2021
BKT
2.95%
7.18%
(1.48)%
5.98%
BBN
9.18%
5.69%
1.53%
1.85%
No conclusions should be drawn about BKT or BBN’s investment
performance from the amount of the Fund’s distributions or from the
terms of the Fund’s Plan.
The amount distributed per share under a Plan is subject to
change at the discretion of the applicable Fund’s Board. Each
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 a Plan or suspend or terminate a 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 a 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
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.
View source
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