Certain BlackRock closed-end funds (the “Funds”) announced
distributions today as detailed below.
Summary of Distribution
Announcements
- 16 tax-exempt municipal funds announced increases to their
monthly distribution amounts per share
- BlackRock Energy and Resources Trust (“BGR”) announced an
increase to its monthly distribution amount per share
- Each Fund declared its October distribution early
- BlackRock Enhanced Equity Dividend Trust (“BDJ”) also declared
its November distribution early in order to satisfy the Fund's
remaining December 31, 2023 distribution requirements
The Funds’ monthly distributions for October and, in the case of
BDJ, November can be found below:
Tax-Exempt Municipal
Funds:
Key Dates: Declaration- 9/12/2024
Ex- 10/15/2024 Record- 10/15/2024 Payable- 11/1/2024
National
Funds
Ticker
Distribution
Change From
Prior Distribution ($)
Change From
Prior Distribution (%)
BlackRock Municipal Income Quality
Trust*
BYM
$0.055500
+$0.003000
+5.7%
BlackRock Long-Term Municipal Advantage
Trust*
BTA
$0.049500
+$0.006000
+13.8%
BlackRock MuniAssets Fund, Inc.*
MUA
$0.055500
-
-
BlackRock Municipal Income Fund, Inc.*
MUI
$0.055000
-
-
BlackRock Municipal Income Trust*
BFK
$0.050000
-
-
BlackRock Investment Quality Municipal
Trust, Inc.*
BKN
$0.057000
-
-
BlackRock Municipal Income Trust II*
BLE
$0.054000
+$0.002000
+3.8%
BlackRock Municipal 2030 Target Term
Trust
BTT
$0.046400
-
-
BlackRock MuniHoldings Fund*
MHD
$0.059500
+$0.007000
+13.3%
BlackRock MuniYield Quality Fund II,
Inc.*
MQT
$0.051000
+$0.002000
+4.1%
BlackRock MuniYield Quality Fund,
Inc.*
MQY
$0.058000
-
-
BlackRock MuniHoldings Quality Fund II,
Inc.*
MUE
+$0.051000
+$0.006000
+13.3%
BlackRock MuniVest Fund II, Inc.*
MVT
+$0.054000
+$0.003500
+6.9%
BlackRock MuniYield Fund, Inc.*
MYD
+$0.054500
+$0.002000
+3.8%
BlackRock MuniYield Quality Fund III,
Inc.*
MYI
+$0.055500
-
-
BlackRock MuniVest Fund, Inc.*
MVF
+$0.036000
+$0.006000
+20.0%
BlackRock 2037 Municipal Target Term
Trust
BMN
+$0.093750
-
-
State-Specific
Funds
Ticker
Distribution
Change From
Prior Distribution ($)
Change From
Prior Distribution (%)
BlackRock MuniHoldings California Quality
Fund, Inc.*
MUC
$0.053500
+$0.005000
+10.3%
BlackRock California Municipal Income
Trust*
BFZ
$0.059000
-
-
BlackRock MuniYield Michigan Quality Fund,
Inc.*
MIY
$0.054500
+$0.008000
+17.2%
BlackRock MuniHoldings New Jersey Quality
Fund, Inc.*
MUJ
$0.054000
+$0.004000
+8.0%
BlackRock MuniHoldings New York Quality
Fund, Inc.*
MHN
$0.051500
+$0.008000
+18.4%
BlackRock MuniYield New York Quality Fund,
Inc.*
MYN
$0.051200
+$0.007000
+15.8%
BlackRock New York Municipal Income
Trust*
BNY
$0.051000
+$0.008000
+18.6%
BlackRock MuniYield Pennsylvania Quality
Fund*
MPA
$0.066000
-
-
BlackRock Virginia Municipal Bond
Trust*
BHV
$0.051500
+$0.012000
+30.4%
Taxable Municipal Fund:
Key Dates: Declaration- 9/12/2024
Ex- 10/15/2024 Record- 10/15/2024 Payable- 10/31/2024
Fund
Ticker
Distribution
Change From
Prior Distribution
BlackRock Taxable Municipal Bond
Trust*
BBN
$0.092900
-
Taxable Fixed Income
Funds:
Key Dates: Declaration- 9/12/2024
Ex- 10/15/2024 Record- 10/15/2024 Payable- 10/31/2024
Fund
Ticker
Distribution
Change From
Prior Distribution
BlackRock Floating Rate Income Trust*
BGT
$0.120280
-
BlackRock Core Bond Trust*
BHK
$0.074600
-
BlackRock Multi-Sector Income Trust*
BIT
$0.123700
-
BlackRock Income Trust, Inc.*
BKT
$0.088200
-
BlackRock Limited Duration Income
Trust*
BLW
$0.113200
-
BlackRock Credit Allocation Income
Trust*
BTZ
$0.083900
-
BlackRock Debt Strategies Fund, Inc.*
DSU
$0.098730
-
BlackRock Enhanced Government Fund,
Inc.*
EGF
$0.041000
-
BlackRock Floating Rate Income Strategies
Fund, Inc.*
FRA
$0.123840
-
BlackRock Corporate High Yield Fund,
Inc.*
HYT
$0.077900
-
Equity Funds:
Key Dates: Declaration- 9/12/2024
Ex- 10/15/2024 Record- 10/15/2024 Payable- 10/31/2024
Fund
Ticker
Distribution
Change From
Prior Distribution ($)
Change From
Prior Distribution (%)
BlackRock Resources & Commodities
Strategy Trust*
BCX
$0.051800
-
BlackRock Enhanced Equity Dividend
Trust*
BDJ
$0.056200
-
BlackRock Energy and Resources Trust*
BGR
$0.075400
+$0.009700
+14.8%
BlackRock Enhanced International Dividend
Trust*
BGY
$0.033800
-
BlackRock Health Sciences Trust*
BME
$0.213000
-
BlackRock Enhanced Global Dividend
Trust*
BOE
$0.063000
-
BlackRock Utilities, Infrastructure &
Power Opportunities Trust*
BUI
$0.121000
-
BlackRock Enhanced Capital and Income
Fund, Inc.*
CII
$0.099500
-
BlackRock Science and Technology
Trust*
BST
$0.250000
-
Key Dates: Declaration- 9/12/2024
Ex- 11/15/2024 Record- 11/15/2024 Payable- 11/29/2024
Fund
Ticker
Distribution
Change From
Prior Distribution
BlackRock Enhanced Equity Dividend
Trust*
BDJ
$0.056200
-
* In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended (the “1940 Act”), 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 2024 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) and BlackRock Science and Technology
Trust (NYSE: BST) have adopted a managed distribution plan (a
“Plan”) to support a level monthly 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 Fund’s Board of Directors/Trustees.
Under its Plan, each 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 (the “Code”). If sufficient income (inclusive of net
investment income and short-term capital gains) is not available on
a monthly basis, a Fund will distribute long-term capital gains
and/or return capital to its shareholders in order to maintain a
level distribution.
Each Fund’s estimated sources of the distributions paid as of
August 30, 2024 and for its current fiscal year are as follows:
Estimated Allocations as of
August 30, 2024
Fund
Distribution
Net Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BCX1
$0.051800
$0.018802 (36%)
$0 (0%)
$0 (0%)
$0.032998 (64%)
BDJ
$0.056200
$0.011930 (21%)
$0 (0%)
$0.044270 (79%)
$0 (0%)
BGR1
$0.065700
$0.031171 (47%)
$0 (0%)
$0 (0%)
$0.034529 (53%)
BGY1
$0.033800
$0.009789 (29%)
$0 (0%)
$0.023445 (69%)
$0.000566 (2%)
BME1
$0.213000
$0.000000 (0%)
$0 (0%)
$0.213000 (100%)
$0 (0%)
BOE1
$0.063000
$0.010296 (16%)
$0 (0%)
$0 (0%)
$0.052704 (84%)
BUI1
$0.121000
$0.042348 (35%)
$0 (0%)
$0.078652 (65%)
$0 (0%)
CII
$0.099500
$0.000000 (0%)
$0 (0%)
$0.099500 (100%)
$0 (0%)
BST
$0.250000
$0.000000 (0%)
$0 (0%)
$0.250000 (100%)
$0 (0%)
Estimated Allocations for the
Fiscal Year through August 30, 2024
Fund
Distribution
Net Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
BCX1
$0.414400
$0.144288 (35%)
$0 (0%)
$0 (0%)
$0.270112 (65%)
BDJ
$0.449600
$0.287482 (64%)
$0 (0%)
$0.162118 (36%)
$0.000000 (0%)
BGR1
$0.525600
$0.201440 (38%)
$0 (0%)
$0 (0%)
$0.324160 (62%)
BGY1
$0.270400
$0.077905 (29%)
$0 (0%)
$0.023445 (9%)
$0.169050 (62%)
BME1
$1.704000
$0.054716 (3%)
$0 (0%)
$0.606441 (36%)
$1.042843 (61%)
BOE1
$0.504000
$0.136064 (27%)
$0 (0%)
$0 (0%)
$0.367936 (73%)
BUI1
$0.968000
$0.226155 (23%)
$0 (0%)
$0.651713 (67%)
$0.090132 (10%)
CII1
$0.796000
$0.048897 (6%)
$0 (0%)
$0.747103 (94%)
$0.000000 (0%)
BST
$2.000000
$0.000000 (0%)
$0 (0%)
$1.940578 (97%)
$0.059422 (3%)
1The 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 Fund's investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the Fund’s net asset
value per share.
The amounts and sources of distributions reported are only
estimates and are being provided to you pursuant to regulatory
requirements and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon each Fund’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.
Fund Performance and
Distribution Rate Information:
Fund
Average annual total return (in
relation to NAV) for the 5-year period ending on 8/31/2024
Annualized current distribution
rate expressed as a percentage of NAV as of 8/31/2024
Cumulative total return (in
relation to NAV) for the fiscal year through 8/31/2024
Cumulative fiscal year
distributions as a percentage of NAV as of 8/31/2024
BCX
11.61%
5.83%
5.57%
4.37%
BDJ
9.87%
7.13%
13.26%
5.35%
BGR
11.80%
5.30%
9.66%
4.04%
BGY
9.07%
6.19%
10.77%
4.64%
BME
10.25%
5.56%
13.63%
4.17%
BOE
9.52%
5.96%
12.65%
4.47%
BUI
9.73%
6.10%
10.42%
4.57%
CII
13.25%
5.55%
13.06%
4.17%
BST
12.02%
8.05%
13.54%
6.04%
Shareholders should not draw any conclusions about a Fund’s
investment performance from the amount of the Fund’s current
distributions or from the terms of the Fund’s Plan.
BlackRock Enhanced Government Fund, Inc. (NYSE: EGF), BlackRock
Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate
Income Strategies Fund, Inc. (NYSE: FRA), BlackRock Floating Rate
Income Trust (NYSE: BGT), BlackRock Corporate High Yield Fund, Inc.
(NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ),
BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core
Bond Trust (NYSE: BHK), BlackRock Multi-Sector Income Trust (NYSE:
BIT), BlackRock Income Trust, Inc. (NYSE: BKT) and BlackRock
Taxable Municipal Bond Trust (NYSE: BBN) have adopted a Plan to
support a level monthly 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 Fund’s Board
of Directors/Trustees. Under its Plan, each Fund will
distribute all available net income to its shareholders, consistent
with its investment objectives and as required by the Code. If
sufficient income (inclusive of net investment income and
short-term capital gains) is not available on a monthly basis, a
Fund will distribute long-term capital gains and/or return capital
to its stockholders in order to maintain a level distribution. Each
of the above-listed Funds is currently not relying on any exemptive
relief from Section 19(b) of the Investment Company Act of 1940, as
amended (the “1940 Act”). Each Fund expects that distributions
under the Plan will exceed current income and capital gains and
therefore will likely include a return of capital. Each Fund may
make additional distributions from time to time, including
additional capital gain distributions at the end of the taxable
year, if required to meet requirements imposed by the Code and/or
the 1940 Act.
Each Fund’s estimated sources of the distributions paid as of
August 30, 2024 and for its current fiscal year are as follows:
Estimated Allocations as of
August 30, 2024
Fund
Distribution
Net Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
EGF2
$0.041000
$0.029683 (72%)
$0 (0%)
$0 (0%)
$0.011317 (28%)
BKT2
$0.088200
$0.032671 (37%)
$0 (0%)
$0 (0%)
$0.055529 (63%)
DSU2
$0.098730
$0.082244 (83%)
$0 (0%)
$0 (0%)
$0.016486 (17%)
FRA2
$0.123840
$0.100820 (81%)
$0 (0%)
$0 (0%)
$0.023020 (19%)
BBN2
$0.092900
$0.074466 (80%)
$0 (0%)
$0 (0%)
$0.018434 (20%)
BGT2
$0.120280
$0.095267 (79%)
$0 (0%)
$0 (0%)
$0.025013 (21%)
HYT2
$0.077900
$0.064483 (83%)
$0 (0%)
$0 (0%)
$0.013417 (17%)
BTZ2
$0.083900
$0.055507 (66%)
$0 (0%)
$0 (0%)
$0.028393 (34%)
BLW2
$0.113200
$0.094029 (83%)
$0 (0%)
$0 (0%)
$0.019171 (17%)
BHK2
$0.074600
$0.045822 (61%)
$0 (0%)
$0 (0%)
$0.028778 (39%)
BIT2
$0.123700
$0.081212 (66%)
$0 (0%)
$0 (0%)
$0.042488 (34%)
Estimated Allocations for the
Fiscal Year through August 30, 2024
Fund
Distribution
Net Income
Net Realized Short-Term Gains
Net Realized Long-Term Gains
Return of Capital
EGF2
$0.328000
$0.245715 (75%)
$0 (0%)
$0 (0%)
$0.082285 (25%)
BKT2
$0.705600
$0.269402 (38%)
$0 (0%)
$0 (0%)
$0.436198 (62%)
DSU2
$0.789840
$0.627784 (79%)
$0 (0%)
$0 (0%)
$0.162056 (21%)
FRA2
$0.990720
$0.803723 (81%)
$0 (0%)
$0 (0%)
$0.186997 (19%)
BBN2
$0.743200
$0.601415 (81%)
$0 (0%)
$0 (0%)
$0.141785 (19%)
BGT2
$0.962240
$0.757665 (79%)
$0 (0%)
$0 (0%)
$0.204575 (21%)
HYT2
$0.623200
$0.495236 (79%)
$0 (0%)
$0 (0%)
$0.127964 (21%)
BTZ2
$0.671200
$0.449119 (67%)
$0 (0%)
$0 (0%)
$0.222081 (33%)
BLW2
$0.873800
$0.768011 (88%)
$0 (0%)
$0 (0%)
$0.105789 (12%)
BHK2
$0.596800
$0.381925 (64%)
$0 (0%)
$0 (0%)
$0.214875 (36%)
BIT2
$0.989600
$0.626081 (63%)
$0 (0%)
$0 (0%)
$0.363519 (37%)
2The 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 Fund's investment performance and should not be
confused with ‘yield’ or ‘income’. When distributions exceed total
return performance, the difference will reduce the Fund’s net asset
value per share.
The amounts and sources of distributions reported are only
estimates and are being provided to you pursuant to regulatory
requirements and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon each Fund’s investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. Each Fund will send its stockholders a
Form 1099-DIV for the calendar year that will illustrate 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 8/31/2024
Annualized current distribution
rate expressed as a percentage of NAV as of 8/31/2024
Cumulative total return (in
relation to NAV) for the fiscal year through 8/31/2024
Cumulative fiscal year
distributions as a percentage of NAV as 8/31/2024
EGF
(1.17)%
4.78%
3.06%
3.58%
BKT
(1.06)%
8.45%
4.30%
6.34%
DSU
6.24%
11.03%
6.08%
8.27%
FRA
6.42%
11.41%
6.03%
8.55%
BBN
(0.53)%
6.16%
4.70%
4.62%
BGT
6.47%
11.38%
5.96%
8.54%
HYT
5.57%
9.53%
7.52%
7.15%
BTZ
3.11%
8.68%
6.43%
6.51%
BLW
4.79%
9.55%
7.34%
6.94%
BHK
(0.34)%
8.21%
4.59%
6.16%
BIT
5.31%
10.03%
7.24%
7.52%
No conclusions should be drawn about a Fund’s investment
performance from the amount of the Fund’s distributions or from the
terms of the Fund’s Plan.
The amount distributed per share under a Plan is subject to
change at the discretion of the applicable Fund’s Board. Each
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 a Plan or suspend or terminate a Plan
at any time without prior notice to the Fund’s shareholders if it
deems such actions to be in the best interest of the Fund or its
shareholders. The amendment or termination of a Plan could have an
adverse effect on the market price of the Fund's shares.
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/corporate
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, and regulatory, supervisory or
enforcement actions of government agencies relating to a Fund 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 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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