Today, BlackRock Resources & Commodities Strategy Trust
(NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ),
BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock
Enhanced International Dividend Trust (NYSE: BGY), BlackRock Health
Sciences Trust (NYSE: BME), BlackRock Enhanced Global Dividend
Trust (NYSE: BOE), BlackRock Utilities, Infrastructure & Power
Opportunities Trust (NYSE: BUI), BlackRock Enhanced Capital and
Income Fund, Inc. (NYSE: CII), BlackRock Science and Technology
Trust (NYSE: BST), and BlackRock Enhanced Government Fund, Inc.
(NYSE: EGF) (collectively, the “Funds”) paid the following
distributions per share:
Fund Pay Date Per Share
BCX February 28, 2019
$0.051600 BDJ February 28, 2019
$0.046700 BGR February 28, 2019
$0.077600 BGY February 28, 2019
$0.033800 BME February
28, 2019 $0.200000 BOE
February 28, 2019 $0.063000 BUI
February 28, 2019 $0.121000 CII
February 28, 2019 $0.082800 BST
February 28, 2019
$0.150000 EGF February 28, 2019
$0.041000
Each of the Funds have adopted a managed distribution plan (the
“Plan”) and employ 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, the Funds will distribute long-term capital gains
and/or return capital to their shareholders in order to maintain a
level distribution.
The Funds’ estimated sources of the distributions paid this
month and for their current fiscal year are as follows:
Estimated Allocations as of February 28, 2019
Fund Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BCX1
$0.051600 $0.011889 (23%)
$0 (0%) $0 (0%) $0.039711
(77%) BDJ $0.046700
$0.018317 (39%) $0.028383 (61%)
$0 (0%) $0 (0%) BGR1
$0.077600 $0.057631 (74%)
$0 (0%) $0 (0%)
$0.019969 (26%) BGY1 $0.033800
$0 (0%) $0 (0%) $0
(0%) $0.033800 (100%) BME
$0.200000 $0 (0%) $0 (0%)
$0.200000 (100%) $0 (0%)
BOE1 $0.063000 $0.005493
(9%) $0 (0%) $0 (0%)
$0.057507 (91%) BUI
$0.121000 $0.042368 (35%)
$0 (0%) $0.078632 (65%)
$0 (0%) CII $0.082800
$0.014912 (18%) $0.067888 (82%)
$0 (0%) $0 (0%) BST
$0.150000 $0 (0%)
$0.019181 (13%) $0.130819 (87%)
$0 (0%) EGF $0.041000
$0.041000 (100%) $0 (0%)
$0 (0%) $0 (0%)
Estimated Allocations for the Fiscal Year
through February 28, 2019 Fund
Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BCX1
$0.103200 $0.062063 (60%)
$0 (0%) $0 (0%)
$0.041137 (40%) BDJ $0.093400
$0.041075 (44%) $0.049404
(53%) $0.002921 (3%)
$0 (0%) BGR1 $0.155200
$0.105788 (68%) $0 (0%)
$0 (0%) $0.049412
(32%) BGY1 $0.067600
$0.012758 (19%) $0 (0%)
$0 (0%) $0.054842 (81%) BME
$0.400000 $0.013419 (3%)
$0.146079 (37%)
$0.240502 (60%) $0 (0%) BOE1
$0.126000 $0.043877 (35%)
$0 (0%) $0 (0%)
$0.082123 (65%) BUI
$0.242000 $0.119820 (50%)
$0 (0%) $0.122180 (50%)
$0 (0%) CII $0.165600
$0.044183 (27%) $0.078764 (48%)
$0.042653 (25%)
$0 (0%) BST $0.300000
$0 (0%) $0.169181 (56%)
$0.130819 (44%) $0 (0%)
EGF $0.041000 $0.041000
(100%) $0 (0%) $0
(0%) $0 (0%) 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 your
distribution may be a return of capital. A return of capital may
occur, for example, when some or all of the shareholder’s
investment is paid back to the shareholder. A return of capital
distribution does not necessarily reflect the 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 being provided to you pursuant to regulatory
requirements and are not being 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. The Fund will send you a Form 1099-DIV
for the calendar year that will tell you how to report these
distributions for federal income tax purposes.
Fund Performance and Distribution Rate Information:
Fund
Average annualtotal return (inrelation to
NAV)for the 5-year periodending on 1/31/2019
Annualized currentdistribution rate
expressedas a percentage of NAVas of 1/31/2019
Cumulative totalreturn (in relationto NAV)
for thefiscal year through1/31/2019
Cumulative fiscalyear distributions asa
percentage ofNAV as of1/31/2019
BCX 1.12% 6.80%
9.47% 0.57% BDJ
8.10% 6.05% 6.42%
0.50% BGR (4.76)%
7.04% 10.31%
0.59% BGY 0.45%
6.69% 4.27% 0.56% BME
12.00% 6.33%
5.83% 0.53% BOE
3.12% 6.52% 4.61%
0.54% BUI 6.68%
7.34% 5.92%
0.61% CII 9.34% 6.06%
6.72% 0.50% BST*
17.43% 6.08%
11.66% 0.51% EGF
1.86% 3.63% 0.82%
0.30% * Portfolio launched within the past 5 years;
the performance and distribution rate information presented for
this Fund reflects data from inception to 1/31/2019.
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.
BKT has adopted a Plan whereby beginning August 2018 the Fund
will make fixed monthly distributions to common stockholders and
will distribute all available investment income to its
stockholders, consistent with its investment objective and as
required by the Code. The fixed amount distributed per share is
subject to change at the discretion of BKT’s Board. If
sufficient investment income is not available on a monthly basis,
the Fund will distribute long-term capital gains and/or return
capital to its stockholders in order to maintain a level
distribution. The Fund is currently not relying on any exemptive
relief from Section 19(b) of the 1940 Act. The Fund expects that
distributions under the Plan will exceed current income and capital
gains and therefore will likely include a return of capital. BKT
may make additional distributions from time to time, including
additional capital gain distributions at the end of the taxable
year, if required to meet requirements imposed by the Code and/or
the 1940 Act.
BKT’s estimated sources of the distributions paid as of February
28, 2019 and for its current fiscal year is as follows:
Estimated Allocations as of February 28, 2019
Fund Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BKT
$0.034400 $0.034400 (100%)
$0 (0%) $0 (0%) $0
(0%)
Estimated Allocations
for the Fiscal Year through February 28, 2019
Fund Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BKT
$0.034400 $0.034400 (100%)
$0 (0%) $0 (0%) $0
(0%)
The amounts and sources of distributions reported are only
estimates and are being provided to you pursuant to regulatory
requirements and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon BKT’s investment experience during the
remainder of its fiscal year and may be subject to changes based on
tax regulations. BKT will send its stockholders a Form 1099-DIV for
the calendar year that will illustrate how to report these
distributions for federal income tax purposes.
Fund Performance and Distribution Rate Information: Fund
Average annualtotal return (inrelation to
NAV) forthe 5-year periodending on 1/31/2019
Annualized currentdistribution
rateexpressed as apercentage of NAV asof 1/31/2019
Cumulative total return(in relation to
NAV) forthe fiscal year through1/31/2019
Cumulative fiscalyear distributionsas a
percentageof NAV as of1/31/2019
BKT 2.76% 6.59%
0.64% 0.55%
No conclusions should be drawn about the BKT’s investment
performance from the amount of the Fund’s distributions or from the
terms of the Fund’s Plan.
The amount distributed per share under a Plan is subject to
change at the discretion of the applicable Fund’s Board. Each
Plan will be subject to ongoing review by the Board to determine
whether the Plan should be continued, modified or terminated. The
Board may amend the terms of a Plan or suspend or terminate a Plan
at any time without prior notice to the Fund’s shareholders if it
deems such actions to be in the best interest of the Fund or its
shareholders. The amendment or termination of a Plan could have an
adverse effect on the market price of the Fund's shares.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to investors and a leading provider of financial
technology, our clients turn to us for the solutions they need when
planning for their most important goals. As of December 31, 2018,
the firm managed approximately $5.98 trillion in assets on behalf
of investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com | Twitter: @blackrock | 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.
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