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, several
municipal Funds declared special distributions.
Municipal Funds:
Declaration- 12/1/2015
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Ex-Date- 12/10/2015
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Record- 12/14/2015
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Payable- 12/31/2015
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National Funds
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Ticker
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Distribution
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Change From Prior Distribution
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BlackRock Municipal Income Quality Trust
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BYM
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$0.071500
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-
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BlackRock Municipal Income Investment Quality Trust
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BAF
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$0.068500
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-
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BlackRock Long-Term Municipal Advantage Trust
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BTA
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$0.058000
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-
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BlackRock Muni Intermediate Duration Fund, Inc.
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MUI
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$0.065500
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-
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BlackRock MuniAssets Fund, Inc.
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MUA
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$0.060000
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-
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BlackRock Municipal Income Investment Trust
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BBF
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$0.072375
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-
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BlackRock Municipal Bond Trust
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BBK
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$0.075000
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-
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BlackRock Municipal Income Trust
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BFK
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$0.075100
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-
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BlackRock Municipal Bond Investment Trust
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BIE
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$0.076000
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-
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BlackRock Municipal Income Trust II
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BLE
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$0.079000
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-
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BlackRock Investment Quality Municipal Trust, Inc.
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BKN
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$0.074000
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(0.003000)
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BlackRock Municipal Target Term Trust
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BTT
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$0.080000
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-
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The BlackRock Strategic Municipal Trust
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BSD
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$0.071000
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-
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BlackRock MuniEnhanced Fund, Inc.
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MEN
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$0.060500
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-
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BlackRock MuniHoldings Investment Quality Fund
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MFL
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$0.071500
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-
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BlackRock MuniYield Investment Quality Fund
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MFT
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$0.071000
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-
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BlackRock MuniHoldings Fund, Inc.
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MHD
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$0.086000
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-
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BlackRock MuniYield Quality Fund II, Inc.
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MQT
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$0.067000
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-
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BlackRock MuniYield Quality Fund, Inc.
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MQY
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$0.080000
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-
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BlackRock MuniHoldings Quality Fund II, Inc.
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MUE
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$0.068000
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-
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BlackRock MuniHoldings Fund II, Inc.
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MUH
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$0.077500
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-
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BlackRock MuniHoldings Quality Fund, Inc.
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MUS
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$0.067500
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-
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BlackRock MuniVest Fund II, Inc.
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MVT
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$0.083000
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-
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BlackRock MuniYield Fund, Inc.
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MYD
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$0.077000
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-
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BlackRock MuniYield Investment Fund
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MYF
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$0.081500
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-
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BlackRock MuniYield Quality Fund III, Inc.
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MYI
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$0.074000
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-
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BlackRock MuniVest Fund, Inc.
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MVF
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$0.053500
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-
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BlackRock Municipal 2020 Term Trust
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BKK
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$0.044800
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-
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State-Specific Funds
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Ticker
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Distribution
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Change From Prior Distribution
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BlackRock California Municipal Income Trust
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BFZ
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$0.072200
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-
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BlackRock MuniHoldings California Quality Fund, Inc.
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MUC
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$0.067500
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-
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BlackRock MuniYield California Fund, Inc.
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MYC
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$0.074000
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-
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BlackRock MuniYield California Quality Fund, Inc.
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MCA
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$0.073000
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-
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BlackRock Florida Municipal 2020 Term Trust
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BFO
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$0.031000
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-
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BlackRock Maryland Municipal Bond Trust
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BZM
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$0.054500
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-
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BlackRock MuniYield Michigan Quality Fund, Inc.
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MIY
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$0.069000
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-
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BlackRock Muni New York Intermediate Duration Fund, Inc.
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MNE
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$0.057500
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-
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BlackRock MuniHoldings New York Quality Fund, Inc.
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MHN
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$0.067000
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-
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BlackRock MuniYield New York Quality Fund, Inc.
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MYN
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$0.062000
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-
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BlackRock New York Municipal Income Quality Trust
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BSE
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$0.057500
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(0.002500)
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BlackRock New York Municipal Bond Trust
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BQH
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$0.062000
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-
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BlackRock New York Municipal Income Trust
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BNY
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$0.069000
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-
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BlackRock New York Municipal Income Trust II
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BFY
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$0.070000
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-
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BlackRock MuniYield New Jersey Fund, Inc.
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MYJ
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$0.075000
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-
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BlackRock MuniHoldings New Jersey Quality Fund, Inc.
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MUJ
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$0.074000
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-
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BlackRock New Jersey Municipal Income Trust
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BNJ
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$0.075100
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-
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BlackRock MuniYield Pennsylvania Quality Fund
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MPA
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$0.071500
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-
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BlackRock New Jersey Municipal Bond Trust
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BLJ
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$0.069500
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-
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BlackRock MuniYield Arizona Fund, Inc.
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MZA
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$0.069500
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-
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BlackRock Virginia Municipal Bond Trust
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BHV
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$0.069500
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-
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BlackRock Massachusetts Tax-Exempt Trust
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MHE
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$0.058000
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-
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Taxable Municipal Fund:
Declaration- 12/1/2015
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Ex-Date- 12/10/2015
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Record- 12/14/2015
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Payable- 12/18/2015
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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 Taxable Municipal Bond Trust
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BBN
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$0.131800
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-
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Taxable Funds:
Declaration- 12/1/2015
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Ex-Date- 12/10/2015
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Record- 12/14/2015
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Payable- 12/18/2015
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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 Floating Rate Income Trust
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BGT
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$0.058300
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-
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BlackRock Core Bond Trust
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BHK
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$0.071000
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-
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BlackRock Defined Opportunity Credit Trust
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BHL
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$0.051000
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-
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BlackRock Multi-Sector Income Trust
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BIT
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$0.116700
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-
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BlackRock Income Trust, Inc.
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BKT
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$0.031000
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-
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BlackRock Limited Duration Income Trust
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BLW
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$0.087000
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-
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BlackRock Credit Allocation Income Trust
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BTZ
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$0.080500
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-
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BlackRock Debt Strategies Fund, Inc.
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DSU
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$0.020000
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-
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BlackRock Enhanced Government Fund, Inc.*
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EGF
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$0.049000
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-
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BlackRock Floating Rate Income Strategies Fund, Inc.
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FRA
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$0.061000
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-
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BlackRock Corporate High Yield Fund, Inc.
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HYT
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$0.070000
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-
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Special Distributions
Declaration- 12/1/2015
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Ex-Date- 12/10/2015
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Record- 12/14/2015
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Payable- 12/31/2015
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Fund
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Ticker
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Taxable Net Investment Income
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Short-Term Capital Gain
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Long-Term Capital Gain
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BlackRock Muni Intermediate Duration Fund, Inc.
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MUI
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$0.000000
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$0.001938
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$0.182003
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BlackRock MuniYield California Fund, Inc.
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MYC
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$0.000218
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$0.027489
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$0.105188
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BlackRock MuniYield Fund, Inc.
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MYD
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$0.007940
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$0.000000
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$0.000000
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BlackRock MuniAssets Fund, Inc.
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MUA
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$0.006087
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$0.000000
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$0.000000
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BlackRock MuniHoldings New Jersey Quality Fund, Inc.
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MUJ
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$0.007221
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$0.000000
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$0.000000
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BlackRock MuniHoldings Fund, Inc.
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MHD
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$0.015156
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$0.000000
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$0.000000
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BlackRock Municipal Bond Trust
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BBK
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$0.000000
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$0.013467
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$0.000000
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BlackRock MuniYield New Jersey Fund, Inc.
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MYJ
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$0.007355
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$0.000000
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$0.000000
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BlackRock Municipal Target Term Trust
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BTT
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$0.001478
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$0.000000
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$0.000000
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BlackRock MuniVest Fund II, Inc.
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MVT
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$0.004054
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$0.000000
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$0.000000
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BlackRock MuniHoldings Fund II, Inc.
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MUH
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$0.006638
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$0.000000
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$0.000000
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BlackRock MuniVest Fund, Inc.
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MVF
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$0.001024
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$0.000000
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$0.000000
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BlackRock MuniYield New York Quality Fund, Inc.
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MYN
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$0.001054
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$0.000000
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$0.000000
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BlackRock New Jersey Municipal Income Trust
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BNJ
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$0.004827
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$0.000000
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$0.000000
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BlackRock MuniHoldings New York Quality Fund, Inc.
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MHN
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$0.000693
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$0.000000
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$0.000000
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BlackRock MuniYield Quality Fund III, Inc.
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MYI
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$0.000240
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$0.000000
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$0.000000
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BlackRock MuniHoldings California Quality Fund, Inc.
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MUC
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$0.000345
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$0.000000
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$0.000000
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The BlackRock Strategic Municipal Trust
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BSD
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$0.001768
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$0.000000
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$0.000000
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BlackRock Municipal 2020 Term Trust
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BKK
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$0.000000
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$0.000000
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$0.000635
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BlackRock Massachusetts Tax-Exempt Trust
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MHE
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$0.001715
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$0.000000
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$0.000000
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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 2015 will be made after the end
of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) has adopted a level
distribution plan, consistent with its investment objective and
policies, to support a level distribution of income, capital gains,
and/or return of capital (the “Plan”). The fixed amount distributed
per share is subject to change at the discretion of EGF’s Board of
Directors. Under the Plan, EGF will distribute all available
investment income to its shareholders, consistent with its investment
objective and as required by the Internal Revenue Code of 1986, as
amended. If sufficient investment income is not available on a monthly
basis, EGF will distribute long-term capital gains and/or return capital
to its shareholders in order to maintain a level distribution.
EGF’s estimated sources of the distributions paid as of November 30,
2015 and for its current fiscal year are as follows:
Estimated Allocations as of November 30, 2015
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Fund
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Distribution
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Net Investment
Income
|
|
Net Realized Short-Term Gains
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Net Realized Long-Term
Gains
|
|
Return of Capital
|
EGF1
|
|
$0.049000
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|
$0.030220 (62%)
|
|
$0 (0%)
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|
$0 (0%)
|
|
$0.018780 (38%)
|
Estimated Allocations for the Fiscal Year through November 30,
2015
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Fund
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Distribution
|
|
Net Investment Income
|
|
Net Realized Short-Term Gains
|
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Net Realized Long-Term Gains
|
|
Return of Capital
|
EGF1
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|
$0.520000
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|
$0.356657 (69%)
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$0 (0%)
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$0 (0%)
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$0.163343 (31%)
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1 EGF 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 a shareholder’s
investment is paid back to the shareholder. A return of capital
distribution does not necessarily reflect EGF’s investment performance
and should not be confused with ‘yield’ or ‘income’. When distributions
exceed total return performance, the difference will reduce EGF’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 EGF’s
investment experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. EGF will send its
shareholders a Form 1099-DIV for the calendar year that will illustrate
how these distributions should be reported for federal income tax
purposes.
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EGF Performance and Distribution Rate Information:
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Fund
|
|
Average annual total return (in relation to NAV) for the
5-year period ending on 10/30/2015
|
|
Annualized current distribution rate expressed as a percentage
of NAV as of 10/30/2015
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Cumulative total return (in relation to NAV) for the
fiscal year through 10/30/2015
|
|
Cumulative fiscal year distributions as a percentage of
NAV as of 10/30/2015
|
EGF
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|
2.31%
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|
4.07%
|
|
(0.06)%
|
|
3.26%
|
|
|
|
|
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Shareholders should not draw any conclusions about EGF’s investment
performance from the amount of EGF’s current distributions or from the
terms of the Plan.
About BlackRock
BlackRock is a global leader in investment management, risk management
and advisory services for institutional and retail clients. At September
30, 2015, BlackRock’s AUM was $4.506 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 September 30, 2015, the firm had approximately 12,900
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
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/20151201006779/en/
Copyright Business Wire 2015