Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. BlackRock EcoSolutions
Investment Trust (NYSE:BQR) announced a distribution reduction.
BQR’s distribution reduction reflects the current level of the
Fund’s net assets and current and projected levels of dividend
income, option premiums and volatility in the market.
As previously announced on June 16, 2014, BlackRock Real Asset
Equity Trust (NYSE:BCF), BlackRock Resources and Commodities
Strategy Trust (NYSE:BCX), BlackRock Enhanced Equity Dividend Trust
(NYSE:BDJ), BlackRock Energy and Resources Trust (NYSE:BGR),
BlackRock International Growth and Income Trust (NYSE:BGY),
BlackRock Health Sciences Trust (NYSE:BME), BlackRock Enhanced
Capital and Income Fund, Inc. (NYSE:CII) and BQR have changed the
frequency of regular distributions from quarterly to monthly,
effective with this declaration. The monthly distributions declared
today for BCF, BCX, BDJ, BGR, BGY, BME, and CII will represent an
amount approximately equal to one-third of the previously declared
quarterly distributions, while the monthly distribution declared
today for BQR represents an amount inclusive of the distribution
reduction.
As detailed in the August 1, 2014 press release, BlackRock
Global Opportunities Equity Trust (NYSE:BOE), BlackRock Dividend
Income Trust (NYSE:BQY), and BlackRock Utility and Infrastructure
Trust (NYSE:BUI) changed the frequency of their regular
distributions from quarterly to monthly effective in August,
2014.
Municipal Funds:
Declaration- 9/2/2014 Ex-Date-9/11/2014
Record-9/15/2014 Payable- 10/1/2014
National Funds Ticker Distribution
Change FromPriorDistribution
BlackRock Municipal Income Quality Trust BYM $0.071500 - BlackRock
Municipal Income Investment Quality Trust BAF $0.068500 - BlackRock
Long-Term Municipal Advantage Trust BTA $0.062000 - BlackRock Muni
Intermediate Duration Fund, Inc. MUI $0.068500 - BlackRock
MuniAssets Fund, Inc. MUA $0.062500 - BlackRock Municipal Income
Investment Trust BBF $0.072375 - BlackRock Municipal Bond Trust BBK
$0.082000 - BlackRock Municipal Income Trust BFK $0.075100 -
BlackRock Municipal Bond Investment Trust BIE $0.076000 - BlackRock
Municipal 2020 Term Trust BKK $0.054000 - BlackRock Municipal
Income Trust II BLE $0.082000 - BlackRock Investment Quality
Municipal Trust, Inc. BKN $0.080000 - BlackRock Municipal 2018 Term
Trust BPK $0.053500 - BlackRock Municipal Target Term Trust BTT
$0.080000 - The BlackRock Strategic Municipal Trust BSD $0.074000 -
BlackRock MuniEnhanced Fund, Inc. MEN $0.060500 - BlackRock
MuniHoldings Investment Quality Fund MFL $0.071500 - BlackRock
MuniYield Investment Quality Fund MFT $0.071000 - BlackRock
MuniHoldings Fund, Inc. MHD $0.088500 - BlackRock MuniYield Quality
Fund II, Inc. MQT $0.070500 - BlackRock MuniYield Quality Fund,
Inc. MQY $0.080000 - BlackRock MuniHoldings Quality Fund II, Inc.
MUE $0.070500 - BlackRock MuniHoldings Fund II, Inc. MUH $0.083000
- BlackRock MuniHoldings Quality Fund, Inc. MUS $0.067500 -
BlackRock MuniVest Fund II, Inc. MVT $0.088500 - BlackRock
MuniYield Fund, Inc. MYD $0.080500 - BlackRock MuniYield Investment
Fund MYF $0.079000 - BlackRock MuniYield Quality Fund III, Inc. MYI
$0.074000 - BlackRock MuniVest Fund, Inc. MVF $0.053500 -
State-Specific Funds
Ticker Distribution
Change FromPriorDistribution
BlackRock California Municipal Income Trust BFZ $0.072200 -
BlackRock California Municipal 2018 Term Trust BJZ $0.042500 -
BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.071500
- BlackRock MuniYield California Fund, Inc. MYC $0.079000 -
BlackRock MuniYield California Quality Fund, Inc. MCA $0.073000 -
BlackRock Maryland Municipal Bond Trust BZM $0.059500 - BlackRock
Muni New York Intermediate Duration Fund, Inc. MNE $0.057500 -
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.069000 -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.064500 -
BlackRock New York Municipal 2018 Term Trust BLH $0.027800 -
BlackRock New York Municipal Income Quality Trust BSE $0.062500 -
BlackRock New York Municipal Bond Trust BQH $0.066500 - BlackRock
New York Municipal Income Trust BNY $0.069000 - BlackRock New York
Municipal Income Trust II BFY $0.070000 - BlackRock MuniHoldings
New Jersey Quality Fund, Inc. MUJ $0.074000 - BlackRock MuniYield
New Jersey Fund, Inc. MYJ $0.075000 - BlackRock MuniYield New
Jersey Quality Fund, Inc. MJI $0.074000 - BlackRock New Jersey
Municipal Income Trust BNJ $0.075100 - BlackRock New Jersey
Municipal Bond Trust BLJ $0.074500 - BlackRock MuniYield Arizona
Fund, Inc. MZA $0.069500 - BlackRock MuniYield Michigan Quality
Fund II, Inc. MYM $0.066000 - BlackRock MuniYield Michigan Quality
Fund, Inc. MIY $0.072000 - BlackRock MuniYield Pennsylvania Quality
Fund MPA $0.074000 - The BlackRock Pennsylvania Strategic Municipal
Trust BPS $0.061000 - BlackRock Virginia Municipal Bond Trust BHV
$0.071500 - BlackRock Massachusetts Tax-Exempt Trust MHE $0.062500
- BlackRock Florida Municipal 2020 Term Trust BFO $0.034700 -
Taxable Municipal Fund:
Declaration-9/2/2014 Ex-Date- 9/11/2014
Record- 9/15/2014 Payable-9/30/2014
Fund Ticker Distribution
Change FromPriorDistribution
BlackRock Build America Bond Trust BBN $0.131800 -
Taxable Funds:
Declaration- 9/2/2014 Ex-Date- 9/11/2014
Record- 9/15/2014 Payable- 9/30/2014
Fund Ticker Distribution
Change FromPriorDistribution
BlackRock Floating Rate Income Trust* BGT $0.069500 - BlackRock
Core Bond Trust BHK $0.075500 - BlackRock Defined Opportunity
Credit Trust BHL $0.060500 - BlackRock Multi-Sector Income Trust
BIT $0.116700 - BlackRock Income Trust, Inc. BKT $0.035000 -
BlackRock Limited Duration Income Trust BLW $0.099500 - BlackRock
Income Opportunity Trust, Inc. BNA $0.059500 - BlackRock Credit
Allocation Income Trust BTZ $0.080500 - BlackRock Debt Strategies
Fund, Inc. DSU $0.025000 - BlackRock Enhanced Government Fund,
Inc.* EGF $0.055000 - BlackRock Floating Rate Income Strategies
Fund, Inc. FRA $0.070000 - BlackRock Corporate High Yield Fund,
Inc. HYT $0.075500 -
Equity Funds:
Declaration- 9/2/2014 Ex-Date- 9/11/2014
Record- 9/15/2014 Payable- 9/30/2014
Fund Ticker Distribution
ChangeFrom PriorDistribution**
BlackRock Global Opportunities Equity Trust* BOE $0.103900 -
BlackRock Dividend Income Trust* BQY $0.076700 - BlackRock Utility
and Infrastructure Trust* BUI $0.121000 - BlackRock Real Asset
Equity Trust* BCF $0.058300 - BlackRock Resources and Commodities
Strategy Trust* BCX $0.077100 - BlackRock Enhanced Equity Dividend
Trust* BDJ $0.046700 - BlackRock Energy and Resources Trust* BGR
$0.135000 - BlackRock International Growth and Income Trust* BGY
$0.056000 - BlackRock Health Sciences Trust* BME $0.143400 -
BlackRock EcoSolutions Investment Trust* BQR $0.050000 -0.009750
BlackRock Enhanced Capital and Income Fund, Inc.* CII $0.100000 -
* 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 their
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.
** The monthly distributions declared today for BCF, BCX, BDJ,
BGR, BGY, BME, and CII represents an amount approximately equal to
one-third of the previously declared quarterly distributions. BQR’s
effective monthly distribution rate based on its previously
declared quarterly distribution on June 2nd 2014 would have been
$0.05975. The monthly distribution declared today for BQR
represents an amount inclusive of the distribution reduction. BOE,
BQY, and BUI changed the frequency of their regular distributions
from quarterly to monthly effective in August, 2014.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), BOE, BQY,
BUI, BCF, BCX, BDJ, BGR, BGY, BME, BQR, and CII (collectively, the
“Plan Funds”) have adopted a level distribution plan (a “Plan”) and
employ a managed distribution and/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 Plan Fund’s Board of
Directors/Trustees. Under its Plan, each Plan 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 Plan
Fund will distribute long-term capital gains and/or return capital
to its shareholders in order to maintain a level distribution.
The Plan Funds’ estimated sources of the distributions paid as
of August 29, 2014 or June 30, 2014, as applicable, and for their
current fiscal year are as follows:
Estimated Allocations as of August 29, 2014
PlanFund
Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital
BOE1 $0.103900 $0 (0%) $0 (0%) $0 (0%)
$0.103900 (100%) BQY1 $0.076700 $0.012376
(16%) $0.008427 (11%) $0 (0%) $0.055897 (73%)
BUI1 $0.121000 $0.054228 (45%) $0 (0%)
$0.037931 (31%) $0.028841 (24%) EGF1 $0.055000
$0.039328 (72%) $0 (0%) $0 (0%) $0.015672
(28%)
Estimated Allocations as of June 30,
2014
PlanFund
Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BCF1 $0.174800 $0.031354
(18%) $0 (0%) $0 (0%) $0.143446 (82%) BCX1
$0.231200 $0.065993 (29%) $0 (0%) $0
(0%) $0.165207 (71%) BDJ1 $0.140000 $0.039304
(28%) $0 (0%) $0 (0%) $0.100696 (72%) BGR1
$0.405000 $0.099485 (25%) $0 (0%)
$0.180809 (45%) $0.124706 (30%) BGY1 $0.167850
$0.047042 (28%) $0 (0%) $0 (0%) $0.120808
(72%) BME $0.429975 $0.011083 (3%) $0.145670
(34%) $0.273222 (63%) $0 (0%) BQR1 $0.179250
$0.038717 (22%) $0 (0%) $0 (0%)
$0.140533 (78%) CII1 $0.300000 $0.086290 (29%)
$0 (0%) $0 (0%) $0.213710 (71%)
Estimated Allocations for the fiscal
year through August 29, 2014
PlanFund
Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BOE1 $1.038850 $0.136996
(13%) $0 (0%) $0 (0%) $0.901854 (87%) BQY1
$0.766700 $0.230230 (30%) $0.008427 (1%)
$0.472146 (62%) $0.055897 (7%) BUI1 $1.208500
$0.471271 (39%) $0 (0%) $0.223447 (18%)
$0.513782 (43%) EGF1 $0.385000 $0.297102 (77%)
$0 (0%) $0 (0%) $0.087898 (23%)
Estimated
Allocations for the fiscal year through June 30, 2014
PlanFund
Distribution
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Return of Capital BCF1 $0.524400 $0.079022
(15%) $0 (0%) $0 (0%) $0.445378 (85%) BCX1
$0.693600 $0.145115 (21%) $0 (0%) $0
(0%) $0.548485 (79%) BDJ1 $0.420000 $0.114067
(27%) $0 (0%) $0 (0%) $0.305933 (73%) BGR1
$3.715000 $0.206029 (6%) $0.507016 (14%)
$2.877249 (77%) $0.124706 (3%) BGY1 $0.503550
$0.100123 (20%) $0 (0%) $0 (0%)
$0.403427 (80%) BME $3.199925 $0.036736 (1%)
$1.685668 (53%) $1.477521 (46%) $0 (0%) BQR1
$0.537750 $0.069943 (13%) $0 (0%) $0 (0%)
$0.467807 (87%) CII1 $0.900000 $0.519241 (58%)
$0 (0%) $0 (0%) $0.380759 (42%)
1 The Plan 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 Plan Fund’s investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the Plan 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 Plan Fund’s investment experience
during the remainder of its fiscal year and may be subject to
changes based on tax regulations. Each Plan 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.
Plan Fund Performance and Distribution Rate
Information:
PlanFund
Average annual totalreturn (in relation
toNAV) for the 5-yearperiod ending on07/31/2014
Annualized currentdistribution
rateexpressed as apercentage of NAV asof 07/31/2014
Cumulative total return(in relation to
NAV) forthe fiscal year through07/31/2014
Cumulative fiscalyear distributionsas a
percentageof NAV as of07/31/2014
BCF 7.84% 6.64% 8.92% 4.98% BCX*
(0.77)% 6.66% 8.68% 4.99% BDJ 12.52%
6.17% 7.53% 4.63% BGR 14.19%
5.71% 8.78% 13.09% BGY 7.30% 7.93%
(0.53)% 5.95% BME 17.62% 4.67%
15.39% 8.69% BOE 9.02% 7.79% 2.16%
5.84% BQR 6.65% 7.92% 5.51%
5.94% BQY 10.81% 6.31% 6.66% 4.73% BUI*
13.57% 6.56% 12.91% 4.91% CII
13.61% 7.69% 8.57% 5.77% EGF 3.84%
4.36% 2.35% 2.18%
* Portfolio launched within the past 5 years; this represents
the average annual total return (in relation to NAV) from inception
to 7/31/2014.
Shareholders should not draw any conclusions about a Plan
Fund’s investment performance from the amount of the Plan Fund’s
current distributions or from the terms of the Plan Fund’s
Plan.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At June 30, 2014, BlackRock’s assets under
management were $4.594 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 June 30,
2014, the firm had approximately 11,600 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 BlackRock’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.
BlackRock Closed-End Funds1-800-882-0052
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