BlackRock Advisors, LLC announced today that the Boards of
Directors/Trustees of fifty BlackRock municipal, taxable fixed
income, equity, and multi-asset closed-end funds (the “Funds”) have
authorized the renewal of open market share repurchase programs
(the “Repurchase Programs”). Under each Fund’s current Repurchase
Program, each Fund may repurchase, through November 30, 2023, up to
5% of its outstanding common shares (based on common shares
outstanding on November 30, 2022) in open market transactions.
Pursuant to the Boards’ renewal of the Repurchase Programs,
commencing on December 1, 2023, each Fund may repurchase up to 5%
of its outstanding common shares (based on common shares
outstanding on November 30, 2023) in open market transactions
through November 30, 2024. The Repurchase Programs seek to enhance
shareholder value by purchasing Fund shares trading at a discount
from their net asset value (“NAV”) per share, which could result in
incremental accretion to a Fund’s NAV. The Boards have authorized
the renewal of a Repurchase Program for the following Funds:
Municipal Funds
Ticker (NYSE)
Fund
CUSIP
BFZ
BlackRock California Municipal Income
Trust
09248E102
BKN
BlackRock Investment Quality Municipal
Trust, Inc.
09247D105
BTA
BlackRock Long-Term Municipal Advantage
Trust
09250B103
MUI
BlackRock Municipal Income Fund, Inc.
09253X102
MUA
BlackRock MuniAssets Fund, Inc.
09254J102
BYM
BlackRock Municipal Income Quality
Trust
092479104
BFK
BlackRock Municipal Income Trust
09248F109
BLE
BlackRock Municipal Income Trust II
09249N101
MUC
BlackRock MuniHoldings California Quality
Fund, Inc.
09254L107
MHD
BlackRock MuniHoldings Fund, Inc.
09253N104
MUJ
BlackRock MuniHoldings New Jersey Quality
Fund, Inc.
09254X101
MHN
BlackRock MuniHoldings New York Quality
Fund, Inc.
09255C106
MUE
BlackRock MuniHoldings Quality Fund II,
Inc.
09254C107
MVF
BlackRock MuniVest Fund, Inc.
09253R105
MVT
BlackRock MuniVest Fund II, Inc.
09253T101
MYD
BlackRock MuniYield Fund, Inc.
09253W104
MIY
BlackRock MuniYield Michigan Quality Fund,
Inc.
09254V105
MYN
BlackRock MuniYield New York Quality Fund,
Inc.
09255E102
MPA
BlackRock MuniYield Pennsylvania Quality
Fund
09255G107
MQY
BlackRock MuniYield Quality Fund, Inc.
09254F100
MQT
BlackRock MuniYield Quality Fund II,
Inc.
09254G108
MYI
BlackRock MuniYield Quality Fund III,
Inc.
09254E103
BNY
BlackRock New York Municipal Income
Trust
09248L106
BHV
BlackRock Virginia Municipal Bond
Trust
092481100
BTT
BlackRock Municipal 2030 Target Term
Trust
09257P105
Taxable Fixed Income Funds
Ticker (NYSE)
Fund
CUSIP
BBN
BlackRock Taxable Municipal Bond
Trust
09248X100
BHK
BlackRock Core Bond Trust
09249E101
HYT
BlackRock Corporate High Yield
Fund, Inc.
09255P107
BTZ
BlackRock Credit Allocation
Income Trust
092508100
EGF
BlackRock Enhanced Government
Fund, Inc.
09255K108
FRA
BlackRock Floating Rate Income
Strategies Fund, Inc.
09255X100
BGT
BlackRock Floating Rate Income
Trust
091941104
BKT
BlackRock Income Trust, Inc.
09247F100
BLW
BlackRock Limited Duration Income
Trust
09249W101
BIT
BlackRock Multi-Sector Income
Trust
09258A107
DSU
BlackRock Debt Strategies Fund,
Inc.
09255R202
Equity Funds
Ticker (NYSE)
Fund
CUSIP
BGR
BlackRock Energy and Resources Trust
09250U101
CII
BlackRock Enhanced Capital and Income
Fund, Inc.
09256A109
BDJ
BlackRock Enhanced Equity Dividend
Trust
09251A104
BOE
BlackRock Enhanced Global Dividend
Trust
092501105
BME
BlackRock Health Sciences Trust
09250W107
BMEZ
BlackRock Health Sciences Term Trust
09260E105
BGY
BlackRock Enhanced International Dividend
Trust
092524107
BCX
BlackRock Resources & Commodities
Strategy Trust
09257A108
BST
BlackRock Science and Technology Trust
09258G104
BSTZ
BlackRock Science and Technology Term
Trust
09260K101
BUI
BlackRock Utilities, Infrastructure &
Power Opportunities Trust
09248D104
BIGZ
BlackRock Innovation & Growth Term
Trust
09260Q108
Multi-Asset Funds
Ticker (NYSE)
Fund
CUSIP
BCAT
BlackRock Capital Allocation Term
Trust
09260U109
ECAT
BlackRock ESG Capital Allocation Term
Trust
09262F100
The amount and timing of any repurchases under each Fund’s
Repurchase Program will be determined either at the discretion of
the Fund’s management or pursuant to predetermined parameters and
instructions subject to market conditions. There is no assurance
that any Fund will repurchase shares in any particular amounts. A
Fund’s repurchase activity will be disclosed in its shareholder
report for the relevant fiscal period. Any repurchases made under
any Fund Repurchase Program will be made on a national security
exchange at the prevailing market price, subject to exchange
requirements and certain volume and timing limitations and other
regulations under federal securities laws.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. 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 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 the Funds’ net asset values; (2) the relative and absolute
investment performance of the Funds and their 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 and regulatory, supervisory or
enforcement actions of government agencies relating to the Funds or
BlackRock, as applicable; (8) terrorist activities, international
hostilities, health epidemics and/or pandemics 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 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/20231115856761/en/
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