Certain BlackRock equity closed-end funds (the “Funds”) announced
distributions today as detailed below. BlackRock Real Asset Equity Trust
(NYSE:BCF) and BlackRock Resources & Commodities Strategy Trust
(NYSE:BCX) each announced distribution reductions. In addition,
BlackRock Health Sciences Trust (NYSE:BME) announced a distribution
increase. Each of these distribution changes takes into account the
current level of each Fund’s net assets and current and projected levels
of dividend income, option premiums and volatility in the market.
Equity Funds:
Declaration- 12/9/2013 Ex-Date- 12/18/2013 Record- 12/20/2013
Payable- 12/31/2013
Fund
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Ticker
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Distribution
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Change From Prior
Distribution
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BlackRock Real Asset Equity Trust*
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BCF
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$0.174800
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-$0.046700
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BlackRock Resources & Commodities Strategy Trust*
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BCX
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$0.231200
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-$0.058800
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BlackRock Enhanced Equity Dividend Trust*
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BDJ
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$0.140000
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-
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BlackRock Energy and Resources Trust*
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BGR
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$0.405000
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-
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BlackRock International Growth and Income Trust*
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|
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BGY
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$0.167850
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-
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BlackRock Health Sciences Trust*
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BME
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$0.429975
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$0.045600
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BlackRock EcoSolutions Investment Trust*
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|
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BQR
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$0.179250
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-
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BlackRock Enhanced Capital and Income Fund, Inc.*
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CII
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$0.300000
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-
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Special Distributions
Declaration- 12/9/2013 Ex-Date- 12/18/2013 Record- 12/20/2013
Payable- 12/31/2013
Fund
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Ticker
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Per-Share Special Distribution
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BlackRock Energy and Resources Trust
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|
|
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BGR
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$2.500000
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BlackRock Health Sciences Trust
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|
|
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BME
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$1.910000
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* 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 of
record as of the applicable record date a Section 19 notice with
the previous distribution payment. The Section 19 notice was not
provided 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 2013 will be made after the end
of the year.
BlackRock Real Asset Equity Trust (NYSE:BCF), 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 EcoSolutions
Investment Trust (NYSE:BQR) and BlackRock Enhanced Capital and Income
Fund, Inc. (NYSE:CII) have adopted a level distribution plan (the “Plan”
and such Funds, the “Plan Funds”) 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. Under its Plan, each Plan Fund 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, the Plan Funds will distribute
long-term capital gains and/or return capital to their shareholders in
order to maintain a level distribution.
The Plan Funds’ estimated sources of the distributions paid currently
and for their current fiscal year through September 30, 2013 are as
follows:
Estimated Allocations as of September 30, 2013
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Plan Fund
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Distribution
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Net Investment Income
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Net Realized Short-Term Gains
|
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Net Realized Long-Term Gains
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Return of Capital
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BCF1
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$0.221500
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$0.032055 (14%)
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$0 (0%)
|
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$0 (0%)
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$0.189445 (86%)
|
BCX1
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$0.290000
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$0.063437 (22%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.226563 (78%)
|
BDJ1
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$0.140000
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$0.047030 (34%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.092970 (66%)
|
BGR
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$0.405000
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$0.037473 (9%)
|
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$0.367527 (91%)
|
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$0 (0%)
|
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$0 (0%)
|
BGY1
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$0.167850
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$0.008840 (5%)
|
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$0 (0%)
|
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$0 (0%)
|
|
$0.159010 (95%)
|
BME
|
|
$0.384375
|
|
$0.003373 (1%)
|
|
$0.381002 (99%)
|
|
$0 (0%)
|
|
$0 (0%)
|
BQR1
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$0.179250
|
|
$0.020657 (12%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.158593 (88%)
|
CII1
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$0.300000
|
|
$0.041725 (14%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.258275 (86%)
|
|
|
|
|
|
|
|
|
|
|
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Estimated Allocations for the Fiscal Year through September 30,
2013
|
|
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Plan Fund
|
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Distribution
|
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Net Investment Income
|
|
Net Realized Short-Term Gains
|
|
Net Realized Long-Term Gains
|
|
Return of Capital
|
BCF1
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$0.886000
|
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$0.103393 (12%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.782607 (88%)
|
BCX1
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$1.160000
|
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$0.226657 (20%)
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$0 (0%)
|
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$0 (0%)
|
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$0.933343 (80%)
|
BDJ1
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$0.560000
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$0.169986 (30%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.390014 (70%)
|
BGR
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$1.620000
|
|
$0.138553 (9%)
|
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$1.077085 (66%)
|
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$0.404362 (25%)
|
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$0 (0%)
|
BGY1
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$0.671400
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$0.123834 (18%)
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$0 (0%)
|
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$0 (0%)
|
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$0.547566 (82%)
|
BME
|
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$2.387500
|
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$0.135759 (6%)
|
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$1.693346 (71%)
|
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$0.558395 (23%)
|
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$0 (0%)
|
BQR1
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$0.717000
|
|
$0.092232 (13%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.624768 (87%)
|
CII1
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$1.200000
|
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$0.303164 (25%)
|
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$0 (0%)
|
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$0 (0%)
|
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$0.896836 (75%)
|
1 The 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 a 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 the
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 in which you are invested 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:
|
Plan Fund
|
|
Average annual total return (in relation to NAV) for the
5-year period ending on 10/31/2013
|
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Annualized current distribution rate expressed as a percentage
of NAV as of 10/31/2013
|
|
Cumulative total return (in relation to NAV) for the
fiscal year through 10/31/2013
|
|
Cumulative fiscal year distributions as a percentage of NAV
as of 10/31/2013
|
BCF
|
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11.83%
|
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8.65%
|
|
1.81%
|
|
8.65%
|
BCX2
|
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(4.12)%
|
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8.57%
|
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(3.61)%
|
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8.57%
|
BDJ
|
|
9.56%
|
|
6.31%
|
|
15.11%
|
|
6.31%
|
BGR
|
|
15.47%
|
|
5.38%
|
|
23.72%
|
|
5.38%
|
BGY
|
|
11.64%
|
|
7.42%
|
|
19.25%
|
|
7.42%
|
BME
|
|
16.92%
|
|
4.40%
|
|
33.37%
|
|
6.84%
|
BQR
|
|
9.24%
|
|
7.83%
|
|
9.08%
|
|
7.83%
|
CII
|
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15.23%
|
|
7.84%
|
|
10.53%
|
|
7.84%
|
2 Portfolio launched within the past 5 years; this represents
the average annual total return (in relation to NAV) from inception to
October 31, 2013.
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 the Plan Fund’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, 2013, BlackRock’s assets under management were $4.096
trillion. BlackRock helps clients 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®. Headquartered in New York
City, as of September 30, 2013, the firm had approximately 11,200
employees in 30 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
BlackRock’s website at www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or the Funds may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to the Funds 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 a Fund
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.
Copyright Business Wire 2013