Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below.
Municipal
Funds:
Declaration- 11/3/2014
Ex-Date- 11/12/2014
Record- 11/14/2014
Payable- 12/1/2014
Change From National
Funds Ticker Distribution Prior Distribution BlackRock Municipal
Income Quality Trust BYM $0.071500 - BlackRock Municipal Income
Investment Quality Trust BAF $0.068500 - BlackRock Long-Term
Municipal Advantage Trust BTA $0.058000 - 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 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 $0.083000 -
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 - Change
From State-Specific Funds Ticker Distribution Prior Distribution
BlackRock California Municipal Income Trust BFZ $0.072200 -
BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.067500
- BlackRock MuniYield California Fund, Inc. MYC $0.074000 -
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 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- 11/3/2014
Ex-Date- 11/12/2014
Record- 11/142014
Payable- 11/28/2014
Change From Fund Ticker
Distribution Prior Distribution BlackRock Build America Bond Trust
BBN $0.131800 -
Taxable
Funds:
Declaration- 11/3/2014
Ex-Date- 11/12/2014
Record- 11/14/2014
Payable-11/28/2014
Change From Fund
Ticker Distribution Prior Distribution BlackRock Floating Rate
Income Trust BGT $0.065300 - BlackRock Core Bond Trust BHK
$0.075500 - BlackRock Defined Opportunity Credit Trust BHL
$0.058300 - BlackRock Multi-Sector Income Trust BIT $0.116700 -
BlackRock Income Trust, Inc. BKT $0.035000 - BlackRock Limited
Duration Income Trust BLW $0.099500 - BlackRock Credit Allocation
Income Trust BTZ $0.080500 - BlackRock Debt Strategies Fund, Inc.
DSU $0.024000 - BlackRock Enhanced Government Fund, Inc.* EGF
$0.055000 - BlackRock Floating Rate Income Strategies Fund, Inc.
FRA $0.067400 - BlackRock Corporate High Yield Fund, Inc. HYT
$0.075500 -
Equity
Funds:
Declaration- 11/3/2014
Ex-Date- 11/12/2014
Record- 11/14/2014
Payable-11/28/2014
Change From Fund
Ticker Distribution Prior Distribution BlackRock EcoSolutions
Investment Trust* BQR $0.050000 - BlackRock Energy and Resources
Trust* BGR $0.135000 - BlackRock Enhanced Capital and Income Fund,
Inc.* CII $0.100000 - BlackRock Enhanced Equity Dividend Trust* BDJ
$0.046700 - BlackRock Global Opportunities Equity Trust* BOE
$0.103900 - BlackRock Health Sciences Trust* BME $0.165000 -
BlackRock International Growth and Income Trust* BGY $0.056000 -
BlackRock Resources and Commodities Strategy Trust* BCX $0.077100 -
BlackRock Utility and Infrastructure Trust* BUI $0.121000 -
BlackRock Dividend Income Trust* BQY $0.076700 - BlackRock Real
Asset Equity Trust* BCF $0.058300 -
* 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 2014 will be made after the
end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), 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
Global Opportunities Equity Trust (NYSE:BOE), BlackRock
EcoSolutions Investment Trust (NYSE:BQR), BlackRock Dividend Income
Trust (NYSE MKT:BQY), BlackRock Utility and Infrastructure Trust
(NYSE:BUI), and BlackRock Enhanced Capital and Income Fund, Inc.
(NYSE: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 October 31, 2014 and for their current fiscal year are as
follows:
Estimated Allocations as of October 31, 2014 Plan
Net Investment Net Realized
Short- Net Realized Long- Fund
Distribution Income Term Gains
Term Gains Return of Capital BCF1
$0.058300 $0.004044 (7%)
$0 (0%) $0 (0%) $0.054256 (93%) BCX1
$0.231300 $0.015080 (7%)
$0 (0%) $0 (0%) $0.216220 (93%) BDJ1
$0.140100 $0.013868 (10%)
$0 (0%) $0 (0%) $0.126232 (90%) BGR1
$0.405000 $0.006320 (2%)
$0.049239 (12%) $0 (0%) $0.349441 (86%)
BGY1 $0.168000 $0 (0%) $0
(0%) $0 (0%) $0.168000 (100%) BME1
$0.495000 $0 (0%)
$0.34497 (70%) $0.067282 (13%)
$0.082748 (17%) BOE1 $0.207800 $0 (0%)
$0 (0%) $0 (0%) $0.207800
(100%) BQR1 $0.150000 $0 (0%)
$0 (0%) $0 (0%) $0.150000 (100%)
BQY1 $0.076700 $0 (0%)
$0.006608 (9%) $0 (0%) $0.070092 (91%)
BUI1 $0.242000 $0.003551 (1%)
$0 (0%) $0.123401 (51%)
$0.115048 (48%) CII1 $0.300000
$0.008926 (3%) $0 (0%) $0 (0%)
$0.291074 (97%) EGF1 $0.055000
$0.042911 (78%) $0 (0%) $0 (0%)
$0.012089 (22%)
Estimated Allocations for the
Fiscal Year through October 31, 2014 Plan
Net Investment Net Realized Short-
Net Realized Long- Fund
Distribution Income Term Gains
Term Gains Return of Capital BCF1
$0.641000 $0.112816 (18%) $0
(0%) $0 (0%) $0.528184 (82%) BCX1
$1.002000 $0.236046 (24%)
$0 (0%) $0 (0%) $0.765954 (76%) BDJ1
$0.606800 $0.166587 (27%)
$0 (0%) $0 (0%) $0.440213 (73%) BGR1
$4.255000 $0.261111 (6%)
$0.698068 (16%) $2.94638 (70%)
$0.349441 (8%) BGY1 $0.727550 $0.105355
(14%) $0 (0%) $0 (0%)
$0.622195 (86%) BME1 $3.838325
$0.019391 (1%) $1.965344 (51%)
$1.786309 (46%) $0.067281 (2%) BOE1
$1.350550 $0.139501 (10%) $0 (0%)
$0 (0%) $1.211049 (90%) BQR1
$0.737750 $0.071912 (10%) $0
(0%) $0 (0%) $0.665838 (90%) BQY1
$0.920100 $0.253142 (28%)
$0.011898 (1%) $0.584969 (64%)
$0.070091 (7%) BUI1 $1.571500 $0.488428
(31%) $0 (0%) $0.516716 (33%)
$0.566356 (36%) CII1 $1.300000
$0.556866 (43%) $0 (0%) $0 (0%)
$0.743134 (57%) EGF1 $0.495000
$0.377160 (76%) $0 (0%) $0 (0%)
$0.117840 (24%)
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:
Average annual total Annualized current
Cumulative total Cumulative fiscal
return (in relation distribution rate return (in relation year
distributions to NAV) for the 5- expressed as a to NAV) for the as
a percentage of year period ending percentage of NAV fiscal year
through NAV as of Plan Fund on 09/30/2014
as of 09/30/2014 09/30/2014
09/30/2014 BCF 4.89% 7.10%
2.60% 5.92% BCX* (2.16)%
7.06% 3.29% 5.88% BDJ
11.90% 6.10% 9.58%
5.08% BGR 10.91% 6.04%
3.28% 14.37% BGY 5.36%
8.24% (3.45)% 6.86% BME
17.53% 5.12% 21.64% 8.64%
BOE 7.56% 7.96% 1.44%
7.29% BQR 5.68% 6.76%
4.22% 6.62% BQY 9.40%
6.36% 7.09% 5.82% BUI*
12.61% 6.65% 12.61%
6.09% CII 12.17% 7.78%
7.97% 6.49% EGF 3.45%
4.39% 2.40% 2.93%
* Portfolio launched within the past 5 years; this represents
the average annual total return (in relation to NAV) from inception
to 09/30/2014.
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.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2014, BlackRock’s AUM was $4.525
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 September 30, 2014, the firm
had approximately 12,100 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
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.
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