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BlackRock Announces Changes To Names For Certain Of Its Closed-End Funds

Stocks in this article: BDJ BDT BDV

BlackRock Advisors, LLC today announced changes to the names of BlackRock Dividend Achievers TM Trust (NYSE:BDV), BlackRock Strategic Dividend Achievers TM Trust (NYSE:BDT) and BlackRock Enhanced Dividend Achievers TM Trust (NYSE:BDJ) (collectively, the “Funds”). The name changes were made in connection with the changes to certain non-fundamental investment policies of the Funds that were previously announced on March 9, 2011. The name changes are as follows:

Prior Name           Ticker         New Name
BlackRock Dividend Achievers TM Trust           BDV         BlackRock Equity Dividend Trust
BlackRock Strategic Dividend Achievers TM Trust           BDT         BlackRock Strategic Equity Dividend Trust
BlackRock Enhanced Dividend Achievers TM Trust           BDJ         BlackRock Enhanced Equity Dividend Trust

Pursuant to the changes announced on March 9, 2011, the Funds will no longer use Mergent, Inc.’s Dividend Achievers TM as the underlying universe for investment in equity securities. Instead, each Fund will broaden its investment guidelines to investing across the broader spectrum of dividend paying equities.

In addition, each Fund also amended its restriction on other eligible investments. Previously, the Funds were restricted to investing, under normal market conditions, no more than 20% of their total assets in equity securities that are not identified as Dividend Achievers TM by Mergent. Similar to the 80% policy change, the amended policy allows the Funds to invest, under normal market conditions, up to 20% in equity securities of issuers that do not pay dividends. Each Fund also removed investment policies limiting the market cap, position size or number of holdings permitted in such Fund. These changes are outlined in more detail in the March 9, 2011 press release.

As disclosed in its prospectus, each Fund was required to provide shareholders 60 days notice of a change to its current non-fundamental policies described above. This 60 day notice period ends on May 9, 2011, after which the new policies will take effect. Each Fund will continue to trade on the New York Stock Exchange under its current ticker.

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