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
June 28, 2019
$0.051600
BDJ
June 28, 2019
$0.046700
BGR
June 28, 2019
$0.077600
BGY
June 28, 2019
$0.033800
BME
June 28, 2019
$0.200000
BOE
June 28, 2019
$0.063000
BUI
June 28, 2019
$0.121000
CII
June 28, 2019
$0.082800
BST
June 28, 2019
$0.150000
EGF
June 28, 2019
$0.041000
Each of the Funds has adopted a managed distribution plan (the
“Plan”) and employs 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 (the “Code”). 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 June 28,
2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BCX1
$0.051600
$0.024252 (47%)
$0 (0%)
$0 (0%)
$0.027348 (53%)
BDJ
$0.046700
$0.015342 (33%)
$0 (0%)
$0.031358 (67%)
$0 (0%)
BGR1
$0.077600
$0.063592 (82%)
$0 (0%)
$0 (0%)
$0.014008 (18%)
BGY1
$0.033800
$0.022771 (67%)
$0 (0%)
$0 (0%)
$0.011029 (33%)
BME
$0.200000
$0 (0%)
$0.053129 (27%)
$0.146871 (73%)
$0 (0%)
BOE1
$0.063000
$0.043243 (69%)
$0 (0%)
$0 (0%)
$0.019757 (31%)
BUI
$0.121000
$0.084141 (70%)
$0 (0%)
$0.036859 (30%)
$0 (0%)
CII1
$0.082800
$0.023888 (29%)
$0 (0%)
$0 (0%)
$0.058912 (71%)
BST
$0.150000
$0 (0%)
$0 (0%)
$0.150000 (100%)
$0 (0%)
EGF1
$0.041000
$0.029152 (71%)
$0 (0%)
$0 (0%)
$0.011848 (29%)
Estimated Allocations for the Fiscal
Year through June 28, 2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BCX1
$0.309600
$0.158827 (51%)
$0 (0%)
$0 (0%)
$0.150773 (49%)
BDJ
$0.280200
$0.121388 (43%)
$0 (0%)
$0.158812 (57%)
$0 (0%)
BGR1
$0.465600
$0.224815 (48%)
$0 (0%)
$0 (0%)
$0.240785 (52%)
BGY1
$0.202800
$0.120973 (60%)
$0 (0%)
$0 (0%)
$0.081827 (40%)
BME
$1.200000
$0.045793 (4%)
$0.101260 (8%)
$1.052947 (88%)
$0 (0%)
BOE1
$0.378000
$0.216319 (57%)
$0 (0%)
$0 (0%)
$0.161681 (43%)
BUI
$0.726000
$0.327428 (45%)
$0 (0%)
$0.398572 (55%)
$0 (0%)
CII1
$0.496800
$0.118494 (24%)
$0 (0%)
$0.312165 (63%)
$0.066141 (13%)
BST
$0.900000
$0 (0%)
$0 (0%)
$0.900000 (100%)
$0 (0%)
EGF1
$0.205000
$0.155899 (76%)
$0 (0%)
$0 (0%)
$0.049101 (24%)
1The 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:
Trust
Average annual total return (in
relation to NAV) for the 5-year period ending on 05/31/2019
Annualized current distribution
rate expressed as a percentage of NAV as of 05/31/2019
Cumulative total return (in
relation to NAV) for the fiscal year through 05/31/2019
Cumulative fiscal year
distributions as a percentage of NAV as of 05/31/2019
BCX
(1.58)%
6.89%
5.59%
2.87%
BDJ
6.82%
5.94%
7.21%
2.48%
BGR
(7.80)%
7.38%
6.75%
3.07%
BGY
0.49%
6.61%
6.49%
2.75%
BME
10.82%
6.43%
3.22%
2.68%
BOE
2.85%
6.39%
6.76%
2.66%
BUI
5.51%
6.99%
10.70%
2.91%
CII
8.19%
5.97%
7.77%
2.49%
BST*
17.85%
5.62%
19.68%
2.34%
EGF
1.74%
3.63%
1.93%
1.51%
* Portfolio launched within the past 5
years; the performance and distribution rate information presented
for this Fund reflects data from inception to 5/31/2019.
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 Investment Company Act of 1940, as
amended (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 June 28,
2019 and for its current fiscal year are as follows:
Estimated Allocations as of June 28,
2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BKT
$0.034400
$0.024024 (70%)
$0 (0%)
$0 (0%)
$0.010376 (30%)
Estimated Allocations for the Fiscal
Year through June 28, 2019
Fund
Distribution
Net Investment Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BKT
$0.172000
$0.128416 (75%)
$0 (0%)
$0 (0%)
$0.043584 (25%)
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 annual total return (in
relation to NAV) for the 5-year period ending on 05/31/2019
Annualized current distribution
rate expressed as a percentage of NAV as of 05/31/2019
Cumulative total return (in
relation to NAV) for the fiscal year through 05/31/2019
Cumulative fiscal year
distributions as a percentage of NAV as of 05/31/2019
BKT
3.00%
6.47%
4.46%
2.70%
No conclusions should be drawn about 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 March 31, 2019, the
firm managed approximately $6.52 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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version on businesswire.com: https://www.businesswire.com/news/home/20190628005428/en/
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