Certain BlackRock closed-end funds (the “Funds”) announced
distributions and special distributions today as detailed
below.
Several of the Funds announced dividend increases. These
dividend increases take into account each Fund’s earnings potential
in light of the current market environment.
In addition, several other Funds announced dividend reductions.
Generally, these dividend reductions were made in order to better
align the Funds with their current earnings rates in light of the
current market environment. With respect to BlackRock Credit
Allocation Income Trust I, Inc. (NYSE:PSW), BlackRock Credit
Allocation Income Trust II, Inc. (NYSE:PSY), BlackRock Credit
Allocation Income Trust III (NYSE:BPP) and BlackRock Credit
Allocation Income Trust IV (NYSE:BTZ), the dividend reductions
announced today were made in conjunction with the repositioning of
each of the funds relative to certain changes to the Funds’
non-fundamental investment policies, as announced on September 4,
2009.
Monthly Distributions
Municipal Funds:
Declaration- 12/6/2010 Ex-Date- 12/13/2010
Record- 12/15/2010 Payable- 12/31/2010
National Funds Ticker Dividend
Change From Prior
Dividend
BlackRock Apex Municipal Fund, Inc. APX $0.044000 - BlackRock
Municipal Income Quality Trust BYM $0.077000 - BlackRock Municipal
Income Investment Quality Trust BAF $0.074500 $0.001000 BlackRock
Investment Quality Municipal Income Trust RFA $0.070000 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.061000 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.071500 - BlackRock
MuniAssets Fund, Inc. MUA $0.062500 - BlackRock Municipal 2020 Term
Trust BKK $0.062250 - BlackRock Municipal Bond Trust BBK $0.086000
- BlackRock Municipal Bond Investment Trust BIE $0.078800 -
BlackRock Municipal Income Trust BFK $0.080100 $0.001500 BlackRock
Municipal Income Trust II BLE $0.083500 $0.001500 BlackRock
Municipal Income Investment Trust BBF $0.075375 - BlackRock
MuniEnhanced Fund, Inc. MEN $0.057000 - BlackRock MuniHoldings Fund
II, Inc. MUH $0.080500 - BlackRock MuniHoldings Fund, Inc. MHD
$0.090500 $0.001500 BlackRock MuniHoldings Quality Fund II, Inc.
MUE $0.073500 - BlackRock MuniHoldings Quality Fund, Inc. MUS
$0.074000 - BlackRock MuniHoldings Investment Quality Fund MFL
$0.075000 - BlackRock MuniVest Fund II, Inc. MVT $0.088500 -
BlackRock MuniVest Fund, Inc. MVF $0.059000 $0.002000 BlackRock
MuniYield Fund, Inc. MYD $0.082500 - BlackRock MuniYield Quality
Fund III, Inc. MYI $0.072000 - BlackRock MuniYield Investment
Quality Fund MFT $0.071000 - BlackRock MuniYield Investment Fund
MYF $0.077500 $0.002500 BlackRock MuniYield Quality Fund II, Inc.
MQT $0.067000 - BlackRock MuniYield Quality Fund, Inc. MQY
$0.077000 - The BlackRock Investment Quality Municipal Trust, Inc.
BKN $0.084000 - The BlackRock Strategic Municipal Trust BSD
$0.074000 $0.001500
State-Specific Funds
Ticker Dividend Change From Prior
Dividend
BlackRock California Municipal Income Trust BFZ $0.075700 -
BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.075500
$0.002000 BlackRock MuniYield California Fund, Inc. MYC $0.079000
$0.003000 BlackRock MuniYield California Quality Fund, Inc. MCA
$0.073500 $0.003000 BlackRock Florida Municipal 2020 Term Trust,
Inc. BFO $0.056000 - BlackRock Maryland Municipal Bond Trust BZM
$0.079000 - BlackRock Muni New York Intermediate Duration Fund,
Inc. MNE $0.061000 - BlackRock MuniHoldings New York Quality Fund,
Inc. MHN $0.079500 - BlackRock MuniYield New York Quality Fund,
Inc. MYN $0.071000 - BlackRock New York Municipal Income Quality
Trust BSE $0.071500 - BlackRock New York Municipal Bond Trust BQH
$0.082000 - BlackRock New York Municipal Income Trust BNY $0.082500
- BlackRock New York Municipal Income Trust II BFY $0.083500 - The
BlackRock New York Investment Quality Municipal Trust, Inc. RNY
$0.073000 - BlackRock MuniHoldings New Jersey Quality Fund, Inc.
MUJ $0.074000 - BlackRock MuniYield New Jersey Fund, Inc. MYJ
$0.072500 $0.001000 BlackRock MuniYield New Jersey Quality Fund,
Inc. MJI $0.072000 - BlackRock New Jersey Municipal Bond Trust BLJ
$0.078000 - BlackRock New Jersey Municipal Income Trust BNJ
$0.079100 $0.001500 The BlackRock New Jersey Investment Quality
Municipal Trust RNJ $0.065500 - BlackRock MuniYield Arizona Fund,
Inc. MZA $0.069500 - BlackRock MuniYield Michigan Quality Fund II,
Inc. MYM $0.071500 - BlackRock MuniYield Michigan Quality Fund,
Inc. MIY $0.076500 - BlackRock MuniYield Pennsylvania Quality Fund
MPA $0.076500 $0.002000 The BlackRock Pennsylvania Strategic
Municipal Trust BPS $0.076000 $0.002500 BlackRock Virginia
Municipal Bond Trust BHV $0.083000 - Massachusetts Health &
Education Tax-Exempt Trust MHE $0.070000 -
Taxable Municipal Fund:
Declaration- 12/6/2010 Ex-Date- 12/13/2010
Record- 12/15/2010 Payable- 12/20/2010 Fund
Ticker Dividend
Change From Prior
Dividend
BlackRock Build America Bond Trust* BBN $0.118300 -
Taxable Funds:
Declaration- 12/6/2010 Ex-Date- 12/13/2010
Record- 12/15/20 10 Payable- 12/20/2010 Fund
Ticker Dividend Change
From Prior
Dividend
BlackRock Senior High Income Fund, Inc. ARK $0.025000 - BlackRock
Floating Rate Income Trust BGT $0.075000 $0.002500 BlackRock
Strategic Bond Trust BHD $0.079500 - 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 $0.026500 $0.002500 BlackRock
Limited Duration Income Trust BLW $0.095000 $0.007500 BlackRock
Income Opportunity Trust, Inc. BNA $0.051000 - BlackRock Credit
Allocation Income Trust III* BPP $0.054000 -$0.012500 BlackRock
Credit Allocation Income Trust IV* BTZ $0.069000 -$0.010000
BlackRock Corporate High Yield Fund, Inc. COY $0.051000 - BlackRock
Corporate High Yield Fund III, Inc. CYE $0.050000 - BlackRock Debt
Strategies Fund, Inc.* DSU $0.027000 - BlackRock Diversified Income
Strategies Fund, Inc. DVF $0.063500 - BlackRock Enhanced Government
Fund, Inc.* EGF $0.080000 - BlackRock Floating Rate Income
Strategies Fund, Inc.* FRA $0.077000 - BlackRock Floating Rate
Income Strategies Fund II, Inc.* FRB $0.075000 - BlackRock High
Income Shares HIS $0.014200 - BlackRock Corporate High Yield Fund
VI, Inc. HYT $0.082500 - BlackRock Corporate High Yield Fund V,
Inc. HYV $0.082500 - BlackRock Credit Allocation Income Trust I,
Inc.* PSW $0.049500 -$0.007500 BlackRock Credit Allocation Income
Trust II, Inc.* PSY $0.053500 -$0.010000
Special Distributions
Declaration- 12/6/2010 Ex-Date- 12/13/2010
Record- 12/15/2010 Payable- 12/31/2010 Fund
Ticker
Taxable
Ordinary
Income
Short-Term
Capital
Gain
Long-Term
CapitalGain
BlackRock Apex Municipal Fund, Inc. APX $0.009534 - - BlackRock
Municipal Bond Trust BBK $0.002077 - - BlackRock Municipal Income
Trust BFK $0.000703 - - BlackRock California Municipal Income Trust
BFZ $0.001032 - - BlackRock Virginia Municipal Bond Trust BHV
$0.000601 $0.006496 $0.077888 The BlackRock Investment Quality
Municipal Trust, Inc. BKN $0.002301 - - BlackRock New Jersey
Municipal Bond Trust BLJ $0.003676 - $0.031013 BlackRock New Jersey
Municipal Income Trust BNJ $0.004118 - - BlackRock New York
Municipal Bond Trust BQH $0.000405 $0.004950 - The BlackRock
Strategic Municipal Trust BSD $0.003405 - - BlackRock Long-Term
Municipal Advantage Trust BTA $0.002190 - - BlackRock Maryland
Municipal Bond Trust BZM $0.000265 - $0.021974 BlackRock
MuniHoldings Fund, Inc. MHD $0.007416 $0.032355 $0.075505 BlackRock
MuniHoldings New York Quality Fund, Inc. MHN $0.003521 - -
BlackRock MuniYield Pennsylvania Quality Fund MPA $0.009377 - -
BlackRock MuniYield Quality Fund, Inc. MQY $0.000487 - - BlackRock
MuniAssets Fund, Inc. MUA $0.012276 - - BlackRock MuniHoldings Fund
II, Inc. MUH $0.002662 $0.005112 $0.066937 BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.000335 - - BlackRock
MuniVest Fund, Inc. MVF $0.000177 - - BlackRock MuniVest Fund II,
Inc. MVT $0.000737 - - BlackRock MuniYield Fund, Inc. MYD $0.001924
- - BlackRock MuniYield Quality Fund III, Inc. MYI $0.000284 - -
BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.006280 - -
* 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 dividend 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 2010 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 (the
“Code”). If sufficient investment income is not available on a
quarterly/monthly basis, EGF will distribute long-term capital
gains and or return capital to their shareholders in order to
maintain a level distribution.
EGF’s estimated sources of the distributions paid as of November
30, 2010 are as follows:
Estimated Allocations as of November 30, 2010 Fund
Distribution Net Investment
Income
Net RealizedShort-Term Gains
Net Realized Long-Term Gains
Return of Capital EGF1
$0.080000 $0.055611 (70%)
$0.00 (0%) $0.00 (0%)
$0.024389 (30%)
Estimated Allocations for the fiscal
year through November 30, 2010
Fund Distribution Net
Investment Income
Net RealizedShort-Term Gains
Net Realized Long-Term Gains
Return of Capital EGF1
$0.825000 $0.578518 (70%)
$0.00 (0%) $0.00 (0%)
$0.246482 (30%)
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: Fund
Average annual total return (in relation to
NAV) for the 5-year period ending on October 31, 2010
Annualized current distribution rate expressed as a
percentage of NAV as of October 31, 2010
Cumulative total return (in relation to NAV) for the fiscal year
through October 31, 2010 Cumulative fiscal
year distributions as a percentage of NAV as of October 31, 2010
EGF 4.91% 5.73%
5.51% 4.45%
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, 2010, BlackRock’s AUM was $3.446
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, 2010, the firm
has approximately 8,900 employees in 24 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 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; and (6)
BlackRock’s ability to attract and retain highly talented
professionals.
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 our website is not a part of this press release.
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