Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below. Several of the Funds
announced distribution changes this month. Generally, these
distribution changes were made in order to better align the
applicable Funds’ distribution rates with their current and
projected level of earnings.
Municipal Funds:
Declaration- 3/2/2015 Ex-Date- 3/11/2015 Record- 3/13/2015
Payable- 4/1/2015
National Funds Ticker Distribution Change From 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 $ 0.065500
-0.003000 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 Income Trust II BLE $
0.079000 - BlackRock Investment Quality Municipal Trust, Inc. BKN $
0.077000 - BlackRock Municipal Target Term Trust BTT $ 0.080000 -
The BlackRock Strategic Municipal Trust BSD $ 0.071000 - 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 $
0.068000 -0.002500 BlackRock MuniHoldings Fund II, Inc. MUH $
0.077500 - BlackRock MuniHoldings Quality Fund, Inc. MUS $ 0.067500
- BlackRock MuniVest Fund II, Inc. MVT $ 0.083000 - BlackRock
MuniYield Fund, Inc. MYD $0.077000 - BlackRock MuniYield Investment
Fund MYF $0.081500 - BlackRock MuniYield Quality Fund III, Inc. MYI
$0.074000 - BlackRock MuniVest Fund, Inc. MVF $0.053500 - BlackRock
Municipal 2018 Term Trust BPK $0.047000 -0.006500
State-Specific Funds
Ticker Distribution Change From 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 $ 0.054500 -0.005000
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 $
0.060000 - 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 $ 0.069500 -0.005000
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 $ 0.071500 -0.002500 The
BlackRock Pennsylvania Strategic Municipal Trust BPS $ 0.061000 -
BlackRock Virginia Municipal Bond Trust BHV $ 0.069500 -0.002000
BlackRock Massachusetts Tax-Exempt Trust MHE $ 0.058000 - BlackRock
Florida Municipal 2020 Term Trust BFO $ 0.034700 - BlackRock New
York Municipal 2018 Term Trust BLH $ 0.025600 -0.002200 BlackRock
California Municipal 2018 Term Trust BJZ $ 0.027700 -0.014800
Taxable Municipal Fund:
Declaration- 3/2/2015 Ex-Date- 3/11/2015 Record- 3/13/2015
Payable- 3/31/2015
Fund Ticker Distribution Change From Prior
Distribution
BlackRock Build America Bond Trust BBN $ 0.131800 -
Taxable Funds:
Declaration- 3/2/2015 Ex-Date- 3/11/2015 Record- 3/13/2015
Payable- 3/31/2015
Fund Ticker Distribution Change From 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 $ 0.031000
-0.004000 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 $ 0.070000 -0.005500
Equity Funds:
Declaration- 3/2/2015 Ex-Date- 3/11/2015 Record- 3/13/2015
Payable- 3/31/2015
Fund Ticker Distribution Change From Prior
Distribution
BlackRock Resources and Commodities Strategy Trust* BCX $ 0.065500
-0.011600 BlackRock Enhanced Equity Dividend Trust* BDJ $ 0.046700
- BlackRock Energy and Resources Trust* BGR $ 0.135000 - BlackRock
International Growth and Income Trust* BGY $ 0.049000 - BlackRock
Health Sciences Trust* BME $ 0.165000 - BlackRock Enhanced Capital
and Income Fund, Inc.* CII $ 0.100000 - BlackRock Global
Opportunities Equity Trust* BOE $ 0.097000 - BlackRock Utility and
Infrastructure Trust* BUI $ 0.121000 - BlackRock Science and
Technology Trust* BST $ 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 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 2015 will be made after the
end of the year.
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 Utility and Infrastructure 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 “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 February 27, 2015 and for their current fiscal year are as
follows:
Estimated Allocations as of February 27, 2015
Plan Fund Distribution Net Investment Income
Net Realized Short-Term Gains Net Realized Long-Term Gains
Return of Capital BCX1 $0.077100 $ 0.011669 (15 %) $ 0 (0 %) $ 0 (0
%) $ 0.065431 (85 %) BDJ1 $0.046700 $ 0.009616 (21 %) $ 0 (0 %) $ 0
(0 %) $ 0.037084 (79 %) BGR1 $0.135000 $ 0.029292 (22 %) $ 0 (0 %)
$ 0 (0 %) $ 0.105708 (78 %) BGY1 $0.049000 $ 0 (0 %) $ 0 (0 %) $ 0
(0 %) $ 0.049000 (100 %) BME $0.165000 $ 0 (0 %) $ 0.095613 (58 %)
$ 0.069387 (42 %) $ 0 (0 %) BOE1 $0.097000 $ 0 (0 %) $ 0 (0 %) $ 0
(0 %) $ 0.097000 (100 %) BUI1 $0.121000 $ 0.055248 (46 %) $ 0 (0 %)
$ 0 (0 %) $ 0.065752 (54 %) CII1 $0.100000 $ 0.003775 (4 %) $ 0 (0
%) $ 0 (0 %) $ 0.096225 (96 %) BST1 $0.100000 $ 0 (0 %) $ 0.014618
(15 %) $ 0 (0 %) $ 0.085382 (85 %) EGF $0.055000 $ 0.055000 (100 %)
$ 0 (0 %) $ 0 (0 %) $ 0 (0 %)
Estimated Allocations for the Fiscal
Year through February 27, 2015
Fund Distribution Net Investment Income Net Realized
Short-Term Gains Net Realized Long-Term Gains Return of Capital
BCX1 $ 0.154200 $ 0.017081 (11 %) $ 0 (0 %) $ 0 (0 %) $ 0.137119
(89 %) BDJ1 $ 0.093400 $ 0.014995 (16 %) $ 0 (0 %) $ 0 (0 %) $
0.078405 (84 %) BGR1 $ 0.270000 $ 0.029292 (11 %) $ 0 (0 %) $ 0 (0
%) $ 0.240708 (89 %) BGY1 $ 0.098000 $ 0 (0 %) $ 0 (0 %) $ 0 (0 %)
$ 0.098000 (100 %) BME $ 0.330000 $ 0 (0 %) $ 0.164882 (50 %) $
0.165118 (50 %) $ 0 (0 %) BOE1 $ 0.194000 $ 0 (0 %) $ 0 (0 %) $ 0
(0 %) $ 0.194000 (100 %) BUI1 $ 0.242000 $ 0.055248 (23 %) $ 0 (0
%) $ 0 (0 %) $ 0.186752 (77 %) CII1 $ 0.200000 $ 0.009578 (5 %) $ 0
(0 %) $ 0 (0 %) $ 0.190422 (95 %) BST1 $ 0.200000 $ 0 (0 %) $
0.035938 (18 %) $ 0 (0 %) $ 0.164062 (82 %) EGF $ 0.055000 $
0.055000 (100 %) $ 0 (0 %) $ 0 (0 %) $ 0 (0 %)
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.
Fund Performance and Distribution Rate Information: Fund
Average annual total return (in relation to NAV) for the
5-year period ending on 1/30/2015 Annualized current
distribution rate expressed as a percentage of NAV as of 1/30/2015
Cumulative total return (in relation to NAV) for the fiscal
year through 1/30/2015 Cumulative fiscal year distributions
as a percentage of NAV as of 1/30/2015 BCX* (5.04 )% 8.34 % (4.15
)% 0.69 % BDJ 10.87 % 6.35 % (3.99 )% 0.53 % BGR 5.26 % 8.14 %
(5.34 )% 0.68 % BGY 4.73 % 7.84 % (0.75 )% 0.65 % BME 18.30 % 5.02
% 2.58 % 0.42 % BOE 7.26 % 7.80 % (1.07 )% 0.65 % BUI* 13.18 % 6.48
% 0.31 % 0.54 % CII 12.61 % 7.78 % (0.91 )% 0.65 % BST* 0.60 % 6.32
% (1.67 )% 0.53 % EGF 3.35 % 4.41 % 3.40 % 0.00 %
* Portfolio launched within the past 5 years; this represents
the average annual total return (in relation to NAV) from inception
to 1/30/2015.
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 a 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 December 31, 2014, BlackRock’s AUM
was $4.652 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 December 31, 2014, the firm had approximately 12,200
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
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 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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