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. In addition, two taxable fixed income
Funds declared special distributions.
Municipal
Funds:
Declaration- 7/1/2016
Ex-Date- 7/13/2016
Record- 7/15/2016
Payable- 8/1/2016
National
Funds
Ticker
Distribution
Change
From
Prior
Distribution
BlackRock Municipal Income Quality Trust BYM $0.066000 - BlackRock
Municipal Income Investment Quality Trust BAF $0.068500 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.054500 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.055500 - BlackRock
Municipal Income Investment Trust BBF $0.072375 - BlackRock
MuniAssets Fund, Inc. MUA $0.057500 - BlackRock Municipal Bond
Trust BBK $0.075000 - BlackRock Municipal Income Trust BFK
$0.071100 - BlackRock Municipal Income Trust II BLE $0.073500 -
BlackRock Investment Quality Municipal Trust, Inc. BKN $0.072000 -
BlackRock Municipal 2030 Target Term Trust BTT $0.080000 - The
BlackRock Strategic Municipal Trust BSD $0.065000 - BlackRock
MuniEnhanced Fund, Inc. MEN $0.056500 - BlackRock MuniHoldings
Investment Quality Fund MFL $0.071500 - BlackRock MuniYield
Investment Quality Fund MFT $0.071000 - BlackRock MuniHoldings
Fund, Inc. MHD $0.081000 - BlackRock MuniYield Quality Fund II,
Inc. MQT $0.062000 - BlackRock MuniYield Quality Fund, Inc. MQY
$0.072500 - BlackRock MuniHoldings Quality Fund II, Inc. MUE
$0.064000 - BlackRock MuniHoldings Fund II, Inc. MUH $0.074500 -
BlackRock MuniHoldings Quality Fund, Inc. MUS $0.067500 - BlackRock
MuniVest Fund II, Inc. MVT $0.079000 - BlackRock MuniYield Fund,
Inc. MYD $0.072000 - BlackRock MuniYield Investment Fund MYF
$0.078000 - BlackRock MuniYield Quality Fund III, Inc. MYI
$0.068000 - BlackRock MuniVest Fund, Inc. MVF $0.049500 - 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 -
BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.061500
- BlackRock MuniYield California Fund, Inc. MYC $0.070000 -
BlackRock MuniYield California Quality Fund, Inc. MCA $0.065000 -
BlackRock California Municipal 2018 Term Trust BJZ $0.027700 -
BlackRock Maryland Municipal Bond Trust BZM $0.047400 - BlackRock
MuniYield Michigan Quality Fund, Inc. MIY $0.064000 - BlackRock
Muni New York Intermediate Duration Fund, Inc. MNE $0.049800 -
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.058000 -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.054000 -
BlackRock New York Municipal Income Quality Trust BSE $0.052000 -
BlackRock New York Municipal Bond Trust BQH $0.059000 - BlackRock
New York Municipal Income Trust BNY $0.060000 - BlackRock New York
Municipal Income Trust II BFY $0.066000 - 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 - BlackRock New Jersey Municipal
Income Trust BNJ $0.069600 - BlackRock MuniYield Pennsylvania
Quality Fund MPA $0.062300 - BlackRock New Jersey Municipal Bond
Trust BLJ $0.069500 - BlackRock MuniYield Arizona Fund, Inc. MZA
$0.062000 - BlackRock Virginia Municipal Bond Trust BHV $0.063000 -
BlackRock Massachusetts Tax-Exempt Trust MHE $0.053000 -
Taxable Municipal
Fund:
Declaration- 7/1/2016
Ex-Date- 7/13/2016 Record-
7/15/2016 Payable- 7/29/2016
Fund
Ticker
Distribution
Change
From
Prior
Distribution
BlackRock Taxable Municipal Bond Trust BBN $0.131800 -
Taxable
Funds:
Declaration- 7/1/2016
Ex-Date- 7/13/2016 Record-
7/15/2016 Payable- 7/29/2016
Fund
Ticker
Distribution
Change
From
Prior
Distribution
BlackRock Floating Rate Income Trust BGT $0.058300 - BlackRock Core
Bond Trust* BHK $0.065000 (0.006000) 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 $0.041000 (0.008000) BlackRock Floating Rate Income
Strategies Fund, Inc. FRA $0.061000 - BlackRock Corporate High
Yield Fund, Inc. HYT $0.070000 -
Equity
Funds:
Declaration- 7/1/2016
Ex-Date- 7/13/2016 Record-
7/15/2016 Payable- 7/29/2016
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 $0.038000 (0.011000)
BlackRock Health Sciences Trust* BME $0.200000 - BlackRock Enhanced
Capital and Income Fund, Inc.* CII $0.100000 - BlackRock Global
Opportunities Equity Trust* BOE $0.078000 (0.019000) BlackRock
Utility and Infrastructure Trust* BUI $0.121000 - BlackRock Science
and Technology Trust* BST $0.100000 -
Special
Distributions
Declaration- 7/1/2016
Ex-Date- 7/13/2016 Record-
7/15/2016 Payable- 7/29/2016
Fund
Ticker
Distribution
BlackRock Multi-Sector Income Trust BIT $0.150000 BlackRock
Limited Duration Income Trust BLW $0.180000
* 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 June 30, 2016 and for their current fiscal year are as
follows:
Estimated Allocations as of June 30, 2016 Fund
Distribution
Net Investment
Income
Net Realized
Short-Term Gains
Net Realized
Long-Term Gains
Return of Capital BCX1 $0.044600 $0.017615
(39%) $0 (0%) $0 (0%) $0.026985 (61%) BDJ1
$0.046700 $0.021162 (45%) $0 (0%) $0
(0%) $0.025538 (55%) BGR1 $0.077600 $0.062679
(81%) $0 (0%) $0 (0%) $0.014921 (19%) BGY1
$0.049000 $0.020935 (43%) $0 (0%) $0
(0%) $0.028065 (57%) BME $0.200000 $0 (0%)
$0.006184 (3%) $0.193816 (97%) $0 (0%) BOE1
$0.097000 $0.024077 (25%) $0 (0%) $0
(0%) $0.072923 (75%) BUI1 $0.121000 $0.075265
(62%) $0 (0%) $0.021682 (18%) $0.024053 (20%)
CII1 $0.100000 $0.020531 (21%) $0 (0%)
$0 (0%) $0.079469 (79%) BST1 $0.100000
$0.002749 (3%) $0 (0%) $0 (0%) $0.097251 (97%)
EGF1 $0.049000 $0.031375 (64%) $0 (0%)
$0 (0%) $0.017625 (36%)
Estimated Allocations for the Fiscal
Year through June 30, 2016
Fund Distribution
Net Investment
Income
Net Realized
Short-Term
Gains
Net Realized
Long-Term Gains
Return of Capital BCX1 $0.309400 $0.079040
(26%) $0 (0%) $0 (0%) $0.230360 (74%) BDJ1
$0.280200 $0.080775 (29%) $0 (0%) $0
(0%) $0.199425 (71%) BGR1 $0.530400 $0.148537
(28%) $0 (0%) $0 (0%) $0.381863 (72%) BGY1
$0.294000 $0.052261 (18%) $0 (0%) $0
(0%) $0.241739 (82%) BME $1.200000 $0.017136
(1%) $0.172293 (15%) $1.010571 (84%) $0 (0%)
BOE1 $0.582000 $0.046145 (8%) $0 (0%)
$0 (0%) $0.535855 (92%) BUI1 $0.726000
$0.244966 (34%) $0 (0%) $0.021682 (3%)
$0.459352 (63%) CII1 $0.600000 $0.060081 (10%)
$0 (0%) $0 (0%) $0.539919 (90%) BST1 $0.600000
$0.002749 (0%) $0 (0%) $0 (0%)
$0.597251 (100%) EGF1 $0.245000 $0.172292 (70%)
$0 (0%) $0 (0%) $0.072708 (30%)
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
5/31/2016
Annualized current
distribution rate
expressed as a
percentage of NAV as
of 5/31/2016
Cumulative total return
(in relation to NAV) for
the fiscal year through
5/31/2016
Cumulative fiscal
year distributions
as a percentage
of NAV as of
5/31/2016
BCX (5.30)% 5.95% 11.77% 2.95% BDJ
8.32% 6.43% 3.28% 2.68% BGR
(4.62)% 6.20% 10.80% 3.01% BGY 0.98%
8.90% (0.68)% 3.71% BME 14.76%
7.07% (3.31)% 2.94% BOE 3.88% 8.55%
(0.39)% 3.56% BUI* 9.47% 7.10%
8.36% 2.96% CII 8.98% 8.28% (0.38)%
3.45% BST* 6.77% 6.29% (0.17)%
2.62% EGF 2.31% 4.10% 1.87% 1.37%
*Portfolio launched within the past 5 years; the performance and
distribution rate information presented for this Fund reflects data
from inception to 5/31/2016.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160701005816/en/
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