Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. Several of the Funds
announced distribution changes this month. Generally, these
distribution changes were made in order to better align the
applicable Funds’ distribution rates with their current and
projected level of earnings.
Municipal
Funds:
Declaration- 6/1/2016 Ex-Date- 6/13/2016 Record- 6/15/2016
Payable- 7/1/2016
National
Funds
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Municipal Income Quality Trust BYM $0.066000
(0.0025000) BlackRock Municipal Income Investment Quality Trust BAF
$0.068500 - BlackRock Long-Term Municipal Advantage Trust BTA
$0.054500 (0.003500) BlackRock Muni Intermediate Duration Fund,
Inc. MUI $0.055500 (0.005000) BlackRock Municipal Income Investment
Trust BBF $0.072375 - BlackRock MuniAssets Fund, Inc. MUA $0.057500
(0.002500) BlackRock Municipal Bond Trust BBK $0.075000 - BlackRock
Municipal Income Trust BFK $0.071100 (0.004000) BlackRock Municipal
Income Trust II BLE $0.073500 (0.005500) BlackRock Investment
Quality Municipal Trust, Inc. BKN $0.072000 (0.002000) BlackRock
Municipal 2030 Target Term Trust BTT $0.080000 - The BlackRock
Strategic Municipal Trust BSD $0.065000 (0.006000) BlackRock
MuniEnhanced Fund, Inc. MEN $0.056500 (0.004000) BlackRock
MuniHoldings Investment Quality Fund MFL $0.071500 - BlackRock
MuniYield Investment Quality Fund MFT $0.071000 - BlackRock
MuniHoldings Fund, Inc. MHD $0.081000 (0.005000) BlackRock
MuniYield Quality Fund II, Inc. MQT $0.062000 (0.005000) BlackRock
MuniYield Quality Fund, Inc. MQY $0.072500 (0.004000) BlackRock
MuniHoldings Quality Fund II, Inc. MUE $0.064000 (0.004000)
BlackRock MuniHoldings Fund II, Inc. MUH $0.074500 (0.003000)
BlackRock MuniHoldings Quality Fund, Inc. MUS $0.067500 - BlackRock
MuniVest Fund II, Inc. MVT $0.079000 (0.004000) BlackRock MuniYield
Fund, Inc. MYD $0.072000 (0.005000) BlackRock MuniYield Investment
Fund MYF $0.078000 (0.003500) BlackRock MuniYield Quality Fund III,
Inc. MYI $0.068000 (0.006000) BlackRock MuniVest Fund, Inc. MVF
$0.049500 (0.004000) BlackRock Municipal 2018 Term Trust BPK
$0.027800 - BlackRock Municipal 2020 Term Trust BKK $0.044800 -
State-Specific
Funds
Ticker
Distribution
Change From
Prior
Distribution
BlackRock California Municipal Income Trust BFZ $0.067200
(0.005000) BlackRock MuniHoldings California Quality Fund, Inc. MUC
$0.061500 (0.006000) BlackRock MuniYield California Fund, Inc. MYC
$0.070000 (0.004000) BlackRock MuniYield California Quality Fund,
Inc. MCA $0.065000 (0.005000) BlackRock California Municipal 2018
Term Trust BJZ $0.027700 - BlackRock Maryland Municipal Bond Trust
BZM $0.047400 (0.002500) BlackRock MuniYield Michigan Quality Fund,
Inc. MIY $0.064000 (0.005000) BlackRock Muni New York Intermediate
Duration Fund, Inc. MNE $0.049800 (0.003500) BlackRock MuniHoldings
New York Quality Fund, Inc. MHN $0.058000 (0.009000) BlackRock
MuniYield New York Quality Fund, Inc. MYN $0.054000 (0.008000)
BlackRock New York Municipal Income Quality Trust BSE $0.052000
(0.005500) BlackRock New York Municipal Bond Trust BQH $0.059000
(0.003000) BlackRock New York Municipal Income Trust BNY $0.060000
(0.004000) BlackRock New York Municipal Income Trust II BFY
$0.066000 (0.004000) BlackRock New York Municipal 2018 Term Trust
BLH $0.017700 - BlackRock MuniYield New Jersey Fund, Inc. MYJ
$0.075000 - BlackRock MuniHoldings New Jersey Quality Fund, Inc.
MUJ $0.067500 (0.003500) BlackRock New Jersey Municipal Income
Trust BNJ $0.069600 (0.005500) BlackRock MuniYield Pennsylvania
Quality Fund MPA $0.062300 (0.006000) BlackRock New Jersey
Municipal Bond Trust BLJ $0.069500 - BlackRock MuniYield Arizona
Fund, Inc. MZA $0.062000 (0.007500) BlackRock Virginia Municipal
Bond Trust BHV $0.063000 (0.006500) BlackRock Massachusetts
Tax-Exempt Trust MHE $0.053000 (0.005000)
Taxable Municipal
Fund:
Declaration- 6/1/2016 Ex-Date- 6/13/2016 Record- 6/15/2016
Payable- 6/30/2016
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Taxable Municipal Bond Trust BBN $0.131800 -
Taxable
Funds:
Declaration- 6/1/2016 Ex-Date- 6/13/2016 Record- 6/15/2016
Payable- 6/30/2016
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Floating Rate Income Trust
BGT
$0.058300 - BlackRock Core Bond Trust* BHK $0.071000 - BlackRock
Defined Opportunity Credit Trust BHL $0.051000 - BlackRock
Multi-Sector Income Trust BIT $0.116700 - BlackRock Income Trust,
Inc. BKT $0.026500 - BlackRock Limited Duration Income Trust BLW
$0.087000 - BlackRock Credit Allocation Income Trust BTZ $0.076000
- BlackRock Debt Strategies Fund, Inc. DSU $0.020000 - BlackRock
Enhanced Government Fund, Inc.* EGF $0.049000 - BlackRock Floating
Rate Income Strategies Fund, Inc. FRA $0.061000 - BlackRock
Corporate High Yield Fund, Inc. HYT $0.070000 -
Equity
Funds:
Declaration- 6/1/2016 Ex-Date- 6/13/2016 Record- 6/15/2016
Payable- 6/30/2016
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Resources & Commodities Strategy Trust* BCX
$0.044600 - BlackRock Enhanced Equity Dividend Trust* BDJ $0.046700
- BlackRock Energy and Resources Trust* BGR $0.077600 - BlackRock
International Growth and Income Trust* BGY $0.049000 - BlackRock
Health Sciences Trust* BME $0.200000 - BlackRock Enhanced Capital
and Income Fund, Inc.* CII $0.100000 - BlackRock Global
Opportunities Equity Trust* BOE $0.097000 - BlackRock Utility and
Infrastructure Trust* BUI $0.121000 - BlackRock Science and
Technology Trust* BST $0.100000 -
* 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 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 2016 will be made after the
end of the year.
BlackRock Resources & Commodities Strategy Trust (NYSE:BCX),
BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ), BlackRock
Energy and Resources Trust (NYSE:BGR), BlackRock International
Growth and Income Trust (NYSE:BGY), BlackRock Health Sciences Trust
(NYSE:BME), BlackRock Global Opportunities Equity Trust (NYSE:BOE),
BlackRock Utility and Infrastructure Trust (NYSE:BUI), BlackRock
Enhanced Capital and Income Fund, Inc. (NYSE:CII), BlackRock
Science and Technology Trust (NYSE:BST), and BlackRock Enhanced
Government Fund, Inc. (NYSE:EGF) (collectively, the “Plan Funds”)
have adopted a level distribution plan (a “Plan”) and employ a
managed distribution and/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 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. 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 Plan Funds’ estimated sources of the distributions paid as
of May 31, 2016 and for their current fiscal year are as
follows:
Estimated Allocations as of May 31,
2016 Fund Distribution
Net Investment Income Net Realized
Short-Term Gains Net Realized Long-Term Gains
Return of Capital BCX1 $0.044600
$0.019493 (44%) $0 (0%) $0 (0%)
$0.025107 (56%) BDJ1 $0.046700
$0.010456 (22%) $0 (0%) $0 (0%)
$0.036244 (78%) BGR1 $0.077600
$0.015751 (20%) $0 (0%) $0 (0%)
$0.061849 (80%) BGY1 $0.049000
$0.020951 (43%) $0 (0%) $0 (0%)
$0.028049 (57%) BME $0.200000 $0
(0%) $0 (0%) $0.200000 (100%)
$0 (0%) BOE1 $0.097000 $0.022068
(23%) $0 (0%) $0 (0%)
$0.074932 (77%) BUI1 $0.121000
$0.087974 (73%) $0 (0%) $0 (0%)
$0.033026 (27%) CII1 $0.100000
$0.004247 (4%) $0 (0%) $0 (0%)
$0.095753 (96%) BST1 $0.100000
$0 (0%) $0 (0%) $0 (0%)
$0.100000 (100%) EGF1 $0.049000
$0.029970 (61%) $0 (0%) $0 (0%)
$0.019030 (39%)
Estimated Allocations for the Fiscal
Year through May 31, 2016
Fund Distribution
Net Investment Income Net Realized Short-Term Gains
Net Realized Long-Term Gains Return of
Capital BCX1 $0.264800 $0.061425 (23%)
$0 (0%) $0 (0%) $0.203375
(77%) BDJ1 $0.233500 $0.059613 (26%)
$0 (0%) $0 (0%) $0.173887
(74%) BGR1 $0.452800 $0.085858 (19%)
$0 (0%) $0 (0%) $0.366942
(81%) BGY1 $0.245000 $0.031326 (13%)
$0 (0%) $0 (0%) $0.213674
(87%) BME $1.000000 $0.024291 (2%)
$0.166191 (17%) $0.809518 (81%)
$0 (0%) BOE1 $0.485000 $0.022068
(5%) $0 (0%) $0 (0%)
$0.462932 (95%) BUI1 $0.605000
$0.169701 (28%) $0 (0%) $0 (0%)
$0.435299 (72%) CII1 $0.500000
$0.039550 (8%) $0 (0%) $0 (0%)
$0.460450 (92%) BST1 $0.500000
$0 (0%) $0 (0%) $0 (0%)
$0.500000 (100%) EGF1 $0.196000
$0.140917 (72%) $0 (0%) $0 (0%)
$0.055083 (28%)
1The Plan 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 Plan Fund's investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the Plan Fund’s net
asset value per share.
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 Plan Fund’s investment
experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. Each Plan 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 4/29/2016
Annualized current distribution rate expressed as a percentage of
NAV as of 4/29/2016 Cumulative total return (in
relation to NAV) for the fiscal year through 4/29/2016
Cumulative fiscal year distributions as a percentage of NAV
as of 4/29/2016 BCX (4.87)% 5.69%
16.31% 2.34% BDJ 7.99%
6.47% 2.08% 2.16% BGR
(4.74)% 6.06% 12.69%
2.44% BGY 0.42% 8.90%
(1.49)% 2.97% BME 14.38%
7.19% (5.52)% 2.40% BOE
3.26% 8.61% (1.90)%
2.87% BUI* 9.68% 7.06%
8.43% 2.35% CII 8.49%
8.36% (2.05)% 2.79% BST*
3.88% 6.55% (4.71)%
2.18% EGF 2.35% 4.10%
1.43% 1.03%
*Portfolio launched within the past 5 years; the performance and
distribution rate information presented for this Fund reflects data
from inception to 4/29/2016.
Shareholders should not draw any conclusions about a Plan
Fund’s investment performance from the amount of the Plan Fund’s
current distributions or from the terms of a Plan Fund’s
Plan.
About BlackRock
BlackRock is a global leader in investment management, risk
management and advisory services for institutional and retail
clients. At March 31, 2016, BlackRock’s AUM was $4.737 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
March 31, 2016, 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/20160601006970/en/
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