Certain BlackRock equity closed-end funds (the “Funds”) announced
distributions today as detailed below. BlackRock Energy and Resources
Trust (NYSE:BGR) and BlackRock Health Sciences Trust (NYSE:BME) both
announced special distributions. BlackRock International Growth and
Income Trust (NYSE:BGY) and BlackRock Global Opportunities Equity Trust
(NYSE:BOE) each announced distribution reductions. Each of these
distribution changes takes into account the current level of the
applicable Fund’s net assets and current and projected levels of
dividend income, option premiums and volatility in the market.
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Regular Monthly Distributions:
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Declaration- 12/8/2014
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Ex-Date- 12/18/2014
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Record- 12/22/2014
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Payable- 12/31/2014
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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 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 Enhanced Equity Dividend Trust*
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BDJ
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$0.046700
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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 International Growth and Income Trust*
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BGY
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$0.049000
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(0.007000)
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BlackRock Health Sciences Trust*
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BME
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$0.165000
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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 Global Opportunities Equity Trust*
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BOE
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$0.097000
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(0.006900)
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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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Special Distributions
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Declaration- 12/8/2014
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Ex-Date- 12/18/2014
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Record- 12/22/2014
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Payable- 12/31/2014
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Fund
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Ticker
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Distribution
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BlackRock Energy and Resources Trust
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BGR
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$1.140000
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BlackRock Health Sciences Trust
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BME
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$2.370000
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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 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.
Each of the Funds has adopted a level distribution plan (a “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 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 November
28, 2014 and for their current fiscal years are as follows:
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Estimated Allocations as of November 28, 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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BCX1
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$0.077100
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$0.011395 (15%)
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$0 (0%)
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$0 (0%)
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$0.065705 (85%)
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BDJ1
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$0.046700
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$0.007187 (15%)
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$0 (0%)
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$0 (0%)
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$0.039513 (85%)
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BGR1
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$0.135000
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$0.031000 (23%)
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$0.007724 (6%)
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$0.094885 (70%)
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$0.001391 (1%)
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BGY1
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$0.056000
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$0 (0%)
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$0 (0%)
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$0 (0%)
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$0.056000 (100%)
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BME1
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$0.165000
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$0 (0%)
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$0 (0%)
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$0.090030 (55%)
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$0.074970 (45%)
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BOE1
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$0.103900
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$0 (0%)
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$0 (0%)
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$0 (0%)
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$0.103900 (100%)
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BUI
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$0.121000
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$0.078720 (65%)
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$0 (0%)
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$0.042280 (35%)
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$0 (0%)
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CII1
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$0.100000
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$0.006845 (7%)
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$0 (0%)
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$0 (0%)
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$0.093155 (93%)
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Estimated Allocations for the fiscal year through November 28,
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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BCX1
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$0.077100
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$0.011395 (15%)
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$0 (0%)
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$0 (0%)
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$0.065705 (85%)
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BDJ1
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$0.046700
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$0.007187 (15%)
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$0 (0%)
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$0 (0%)
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$0.039513 (85%)
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BGR1
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$0.135000
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$0.031000 (23%)
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$0.007724 (6%)
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$0.094885 (70%)
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$0.001391 (1%)
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BGY1
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$0.056000
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$0 (0%)
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$0 (0%)
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$0 (0%)
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$0.056000 (100%)
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BME1
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$0.165000
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$0 (0%)
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$0 (0%)
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$0.090030 (55%)
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$0.074970 (45%)
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BOE1
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$0.103900
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$0 (0%)
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$0 (0%)
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$0 (0%)
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$0.103900 (100%)
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BUI
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$0.121000
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$0.078720 (65%)
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$0 (0%)
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$0.042280 (35%)
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$0 (0%)
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CII1
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$0.100000
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$0.006845 (7%)
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$0 (0%)
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$0 (0%)
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$0.093155 (93%)
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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.
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Fund Performance and Distribution Rate Information:
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Fund
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Average annual total return (in relation to NAV) for the
5-year period ending on 10/31/2014
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Annualized current distribution rate expressed as a percentage
of NAV as of 10/31/2014
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Cumulative total return (in relation to NAV) for the
fiscal year through 10/31/2014
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Cumulative fiscal year distributions as a percentage of
NAV as of 10/31/2014
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BCX*
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(2.83)%
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7.40%
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0.61%
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0.62%
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BDJ
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12.32%
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6.10%
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11.40%
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0.51%
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BGR
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9.80%
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6.51%
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(2.39)%
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0.54%
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BGY
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5.57%
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8.52%
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(4.49)%
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0.71%
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BME
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19.18%
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4.92%
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28.00%
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0.41%
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BOE
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8.18%
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8.02%
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2.10%
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0.67%
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BUI*
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13.68%
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6.48%
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16.94%
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0.54%
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CII
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12.97%
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7.76%
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10.49%
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0.65%
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* Portfolio launched within the past 5 years; this represents the
average annual total return (in relation to NAV) from inception to
10/31/2014.
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
September 30, 2014, BlackRock’s AUM was $4.525 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,
2014, the firm had approximately 12,100 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 the Company’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