Certain BlackRock closed-end funds (the “Funds”) announced distributions
today as detailed below. BlackRock Income Trust, Inc. (NYSE:BKT)
announced an increase in its distribution rate. This change was made in
accordance with BKT’s managed distribution policy previously announced
on July 24, 2018.
Municipal Funds:
National Funds
Ticker
Distribution
Change FromPriorDistribution
MYD
State-Specific Funds
Ticker
Distribution
Change FromPriorDistribution
BlackRock MuniHoldings California Quality Fund, Inc.
MUC
$0.047500
–
Taxable Municipal Fund:
Fund
Ticker
Distribution
Change FromPriorDistribution
Taxable Funds:
Fund
Ticker
Distribution
Change FromPriorDistribution
Equity Funds:
Fund
Ticker
Distribution
Change FromPriorDistribution
* 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 2018 will be made after the end
of the year.
BlackRock Resources & Commodities Strategy Trust (NYSE:BCX), BlackRock
Enhanced Equity Dividend Trust (NYSE:BDJ), BlackRock Energy and
Resources Trust (NYSE:BGR), BlackRock Enhanced International Dividend
Trust (NYSE:BGY), BlackRock Health Sciences Trust (NYSE:BME), BlackRock
Enhanced Global Dividend Trust (NYSE:BOE), BlackRock Utilities,
Infrastructure & Power Opportunities 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 managed
distribution plan (a “Plan”) and employ 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 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 July
31, 2018 and for their current fiscal year are as follows:
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
1The 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 your 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 the 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 you a Form 1099-DIV for the calendar year that will
tell you how to report these distributions for federal income tax
purposes.
Fund Performance and Distribution Rate Information:
Average annual totalreturn (in relation toNAV) for the
5-yearperiod ending on6/30/2018
Annualized currentdistribution rateexpressed as apercentage
of NAV asof 6/30/2018
Cumulative total return(in relation to NAV) forthe
fiscal year through6/30/2018
Cumulative fiscalyear distributionsas a percentageof
NAV as of6/30/2018
*Portfolio launched within the past 5 years; the performance and
distribution rate information presented for this Fund reflects data from
inception to 6/30/2018.
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.
BlackRock Income Trust, Inc. (NYSE:BKT) effective August 2018 has
adopted a Plan whereby the Fund will make fixed monthly distributions to
common stockholders and will distribute all available investment income
to its stockholders, 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, the Fund will
distribute long-term capital gains and/or return capital to its
stockholders in order to maintain its managed distribution level. The
Fund is currently not relying on any exemptive relief from Section 19(b)
of the Investment Company Act of 1940, as amended. The Fund expects that
distributions under the Plan will exceed investment income and capital
gain and thus expects that such distributions will likely include return
of capital for the foreseeable future. No conclusions should be drawn
about the Fund’s investment performance from the amount of the Fund’s
distributions or from the terms of the Fund’s Plan.
BKT’s estimated sources of the distributions paid as of July 31, 2018
and for its current fiscal year is as follows:
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
Net InvestmentIncome
Net RealizedShort-Term Gains
Net RealizedLong-Term Gains
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
BKT’s investment experience during the remainder of its fiscal year and
may be subject to changes based on tax regulations. The Fund will send
you a Form 1099-DIV for the calendar year that will tell you how to
report these distributions for federal income tax purposes.
Average annual totalreturn (in relation toNAV) for the
5-yearperiod ending on6/30/2018
Annualized currentdistribution rateexpressed as apercentage
of NAV asof 6/30/2018
Cumulative total return(in relation to NAV) forthe
fiscal year through6/30/2018
Cumulative fiscalyear distributionsas a percentageof
NAV as of6/30/2018
The amount distributed per share is subject to change at the
discretion of the Fund’s Board. The Plan will be subject to ongoing
review by the Board to determine whether the Plan should be continued,
modified or terminated. The Board may amend the terms of the Plan or
suspend or terminate the Plan at any time without prior notice to the
Fund’s stockholders if it deems such actions to be in the best interest
of the Fund or its stockholders. The amendment or termination of the
Plan could have an adverse effect on the market price of the Fund’s
shares.
About BlackRock
BlackRock helps investors build better financial futures. As a fiduciary
to our clients, we provide the investment and technology solutions they
need when planning for their most important goals. As of June 30, 2018,
the firm managed approximately $6.3 trillion in assets on behalf of
investors worldwide. 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 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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