Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. In addition, several Funds
declared special distributions.
January Monthly Distributions:
Taxable Municipal
Fund:
Declaration- 12/19/2016
Ex-Date- 12/28/2016 Record- 12/30/2016
Payable- 1/9/2017
Fund
Ticker
Distribution
Change From
Prior
Distribution
BlackRock Taxable Municipal Bond Trust BBN $0.131800 -
Taxable
Funds:
Declaration- 12/19/2016
Ex-Date- 12/28/2016 Record- 12/30/2016
Payable- 1/9/2017
Fund
Ticker
Distribution
Change
From
Prior
Distribution
BlackRock Floating Rate Income Trust BGT $0.058300 - BlackRock Core
Bond Trust* BHK $0.065000 - BlackRock Defined Opportunity Credit
Trust BHL $0.051000 - BlackRock Multi-Sector Income Trust BIT
$0.116700 - BlackRock Income Trust, Inc. BKT $0.026500 - BlackRock
Limited Duration Income Trust BLW $0.087000 - BlackRock Credit
Allocation Income Trust* BTZ $0.070500 - BlackRock Debt Strategies
Fund, Inc. DSU $0.063000 - BlackRock Enhanced Government Fund,
Inc.* EGF $0.041000 - BlackRock Floating Rate Income Strategies
Fund, Inc. FRA $0.061000 - BlackRock Corporate High Yield Fund,
Inc. HYT $0.070000 -
Special
Distributions
Declaration- 12/19/2016
Ex-Date- 12/28/2016 Record- 12/30/2016
Payable- 1/9/2017
Fund
Ticker
Distribution
BlackRock Floating Rate Income Trust BGT $0.067000 BlackRock
Defined Opportunity Credit Trust BHL $0.066000 BlackRock
Multi-Sector Income Trust BIT $0.370000 BlackRock Limited Duration
Income Trust BLW $0.244000 BlackRock Debt Strategies Fund, Inc. DSU
$0.019000 BlackRock Floating Rate Income Strategies Fund, Inc. FRA
$0.082000 BlackRock Corporate High Yield Fund, Inc. HYT $0.051000
* 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 2016 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 December
19, 2016 and for its current fiscal year are as follows:
Estimated Allocations as of December 19, 2016 Fund
Distribution
Net Investment
Income
Net Realized
Short-Term
Gains
Net Realized
Long-Term
Gains
Return of Capital EGF1 $0.041000 $0.026429
(64%) $0 (0%) $0 (0%) $0.014571 (36%)
Estimated Allocations for the Fiscal
Year through December 19, 2016 Fund Distribution
Net Investment
Income
Net Realized
Short-Term
Gains
Net Realized
Long-Term
Gains
Return of Capital EGF1 $0.491000 $0.340896
(69%) $0 (0%) $0 (0%) $0.150104 (31%)
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.
EGF Performance and Distribution Rate Information:
Fund
Average annual total
return (in relation to
NAV) for the 5-year
period ending on
11/30/2016
Annualized current
distribution rate
expressed as a
percentage of NAV as
of 11/30/2016
Cumulative total return
(in relation to NAV) for
the fiscal year through
11/30/2016
Cumulative fiscal
year distributions
as a percentage
of NAV as of
11/30/2016
EGF 1.82% 3.53% 0.80% 3.23%
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, 2016, BlackRock’s AUM was $5.1 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, 2016, the firm had approximately 13,000 employees in
30 countries and a major presence in 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.
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