BlackRock Advisors, LLC today announced regular and special
distributions for the following BlackRock equity closed-end funds (the
“Funds”): BlackRock Real Asset Equity Trust (NYSE:BCF), BlackRock
Resources and 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 EcoSolutions Investment
Trust (NYSE:BQR), BlackRock Dividend Income Trust (NYSE MKT:BQY),
BlackRock Utility and Infrastructure Trust (NYSE:BUI), and BlackRock
Enhanced Capital and Income Fund, Inc. (NYSE:CII). BME announced a
distribution increase. This increase reflects the current level of the
Fund’s net assets and current and projected levels of dividend income,
option premiums, and volatility in the market.
As announced in a June 16, 2014 press release, BlackRock changed the
frequency of regular Fund distributions from quarterly to monthly.
BlackRock believes this change will benefit investors seeking more
frequent regular cash distributions. As a result of this change,
beginning in August 2014 (with respect to BOE, BQY and BUI) and
September 2014 (with respect to BCF, BCX , BDJ, BGR, BGY, BME, BQR and
CII), shareholders of each Fund began receiving distributions on a
monthly basis. In order to ensure that shareholders of each Fund receive
the same aggregate amount of distributions during the 2014 calendar year
pursuant to the new monthly distribution cycle as they would have with
the prior quarterly distribution cycle, the Funds are declaring special
distributions to be paid on October 31, 2014 (in the case of BQR, BGR,
CII, BDJ, BOE, BME, BGY, BCX and BUI) and November 3, 2014 (in the case
of BQY and BCF), as detailed below. These special distributions are in
addition to the regular monthly distributions to be paid on October 31,
2014 for all of the Funds as detailed below.
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Regular Monthly Distributions:
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Declaration- 10/1/2014
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Ex-Date- 10/10/2014
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Record- 10/15/2014
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Payable- 10/31/2014
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Fund
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Ticker
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Distribution
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Change From Prior
Distribution
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BlackRock EcoSolutions Investment Trust
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BQR
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$0.050000
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-
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BlackRock Energy and Resources Trust
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BGR
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$0.135000
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-
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BlackRock Enhanced Capital and Income Fund, Inc.
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CII
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$0.100000
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-
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BlackRock Enhanced Equity Dividend Trust
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BDJ
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$0.046700
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-
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BlackRock Global Opportunities Equity Trust
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BOE
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$0.103900
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-
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BlackRock Health Sciences Trust
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BME
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$0.165000
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0.021600
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BlackRock International Growth and Income Trust
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BGY
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$0.056000
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-
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BlackRock Resources and Commodities Strategy Trust
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BCX
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$0.077100
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-
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BlackRock Utility and Infrastructure Trust
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BUI
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$0.121000
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-
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BlackRock Dividend Income Trust
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BQY
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$0.076700
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-
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BlackRock Real Asset Equity Trust
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BCF
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$0.058300
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-
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Special Distributions
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Declaration- 10/1/2014
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Ex-Date- 10/10/2014
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Record- 10/15/2014
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Payable- 10/31/2014
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Fund
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Ticker
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Distribution
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BlackRock EcoSolutions Investment Trust
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BQR
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$0.100000
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BlackRock Energy and Resources Trust
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BGR
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$0.270000
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BlackRock Enhanced Capital and Income Fund, Inc.
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CII
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$0.200000
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BlackRock Enhanced Equity Dividend Trust
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BDJ
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$0.093400
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BlackRock Global Opportunities Equity Trust
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BOE
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$0.103900
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BlackRock Health Sciences Trust
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BME
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$0.330000
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BlackRock International Growth and Income Trust
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BGY
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$0.112000
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BlackRock Resources and Commodities Strategy Trust
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BCX
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$0.154200
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BlackRock Utility and Infrastructure Trust
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BUI
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$0.121000
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Declaration- 10/1/2014
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Ex-Date- 10/10/2014
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Record- 10/15/2014
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Payable- 11/03/2014
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Fund
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Ticker
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Distribution
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BlackRock Dividend Income Trust
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BQY
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$0.076700
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BlackRock Real Asset Equity Trust
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BCF
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$0.116600
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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 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 2014 will be made after the end
of the year.
The 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 Fund’s Board of Directors/Trustees. Under its
Plan, each 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 monthly basis, each 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 as of September
30, 2014 and for their current fiscal year are as follows:
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Estimated Allocations as of September 30, 2014
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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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$0.058300
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$0.012123 (21%)
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$0 (0%)
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$0 (0%)
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$0.046177 (79%)
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BCX1
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$0.077100
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$0.028974 (38%)
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$0 (0%)
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$0 (0%)
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$0.048126 (62%)
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BDJ1
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$0.046700
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$0.019544 (42%)
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$0 (0%)
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$0 (0%)
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$0.027156 (58%)
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BGR1
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$0.135000
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$0.025945 (19%)
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$0.094150 (70%)
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$0.002458 (2%)
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$0.012447 (9%)
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BGY1
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$0.056000
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$0.000188 (1%)
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$0 (0%)
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$0 (0%)
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$0.055812 (99%)
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BME
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$0.143400
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$0 (0%)
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$0 (0%)
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$0.143400 (100%)
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$0 (0%)
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BOE1
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$0.103900
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$0.002487 (2%)
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$0 (0%)
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$0 (0%)
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$0.101413 (98%)
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BQR1
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$0.050000
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$0 (0%)
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$0 (0%)
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$0 (0%)
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$0.05 (100%)
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BQY1
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$0.076700
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$0.024421 (32%)
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$0 (0%)
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$0.010245 (13%)
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$0.042034 (55%)
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BUI
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$0.121000
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$0.013606 (11%)
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$0 (0%)
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$0.107394 (89%)
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$0 (0%)
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CII1
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$0.100000
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$0.019135 (19%)
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$0 (0%)
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$0 (0%)
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$0.080865 (81%)
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Estimated Allocations for the fiscal year through September 30,
2014
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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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$0.582700
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$0.108772 (19%)
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$0 (0%)
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$0 (0%)
|
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$0.473928 (81%)
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BCX1
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$0.770700
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$0.220966 (29%)
|
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$0 (0%)
|
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$0 (0%)
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$0.549734 (71%)
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BDJ1
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$0.466700
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$0.152719 (33%)
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$0 (0%)
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$0 (0%)
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$0.313981 (67%)
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BGR1
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$3.850000
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$0.254791 (7%)
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$0.648829 (17%)
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$2.933933 (75%)
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$0.012447 (1%)
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BGY1
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$0.559550
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$0.107332 (19%)
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$0 (0%)
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$0 (0%)
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$0.452218 (81%)
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BME
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$3.343325
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$0.021739 (1%)
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$1.620373 (48%)
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$1.701213 (51%)
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$0 (0%)
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BOE1
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$1.142750
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$0.139484 (12%)
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$0 (0%)
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$0 (0%)
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$1.003266 (88%)
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BQR1
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$0.587750
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$0.079637 (14%)
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$0 (0%)
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$0 (0%)
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$0.508113 (86%)
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BQY1
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$0.843400
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$0.254650 (30%)
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$0.005290 (1%)
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$0.541426 (64%)
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$0.042034 (5%)
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BUI1
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$1.329500
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$0.484877 (36%)
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$0 (0%)
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$0.393315 (30%)
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$0.451308 (34%)
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CII1
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$1.000000
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$0.547941 (55%)
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$0 (0%)
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$0 (0%)
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$0.452059 (45%)
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1 The Fund estimates that it has distributed more than its
income and net realized capital gains in the current fiscal year;
therefore, a portion of the 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’. 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 not 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. Each Fund will send
its shareholders a Form 1099-DIV for the calendar year that will tell
its shareholders how to report these distributions for federal income
tax purposes.
Fund Performance and Distribution Rate Information:
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Fund
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|
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Average annual total
return (in relation to
NAV) for the 5-year
period ending on
08/31/2014
|
|
|
Annualized current
distribution rate
expressed as a
percentage of NAV as of
08/31/2014
|
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Cumulative total return (in
relation to NAV) for the
fiscal year through
08/31/2014
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|
Cumulative fiscal
year distributions
as a percentage of
NAV as of
08/31/2014
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BCF
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7.89%
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6.57%
|
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10.16%
|
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4.92%
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BCX*
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(0.44)%
|
|
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6.59%
|
|
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9.86%
|
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4.94%
|
BDJ
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12.69%
|
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6.00%
|
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10.73%
|
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4.50%
|
BGR
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14.39%
|
|
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5.62%
|
|
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10.46%
|
|
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12.89%
|
BGY
|
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6.94%
|
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|
7.92%
|
|
|
(0.30)%
|
|
|
5.93%
|
BME
|
|
|
17.62%
|
|
|
4.44%
|
|
|
15.39%
|
|
|
8.25%
|
BOE
|
|
|
9.06%
|
|
|
7.69%
|
|
|
4.23%
|
|
|
6.40%
|
BQR
|
|
|
7.23%
|
|
|
6.42%
|
|
|
9.01%
|
|
|
5.75%
|
BQY
|
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10.56%
|
|
|
6.18%
|
|
|
9.55%
|
|
|
5.15%
|
BUI*
|
|
|
14.55%
|
|
|
6.37%
|
|
|
16.91%
|
|
|
5.30%
|
CII
|
|
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13.43%
|
|
|
7.48%
|
|
|
11.56%
|
|
|
5.61%
|
|
* Portfolio launched within the past 5 years; this represents the
average annual total return (in relation to NAV) from inception to
8/31/2014.
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.
About BlackRock
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
June 30, 2014, BlackRock’s assets under management were $4.594
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 June 30, 2014, the firm had approximately 11,600
employees in more than 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
|
Twitter: @blackrock_news
| Blog: www.blackrockblog.com
|
LinkedIn: www.linkedin.com/company/blackrock
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 2014