Distribution Dates And Amounts Announced For Certain BlackRock Closed-End Funds
Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below.
Several of the Funds announced distribution increases. These distribution increases take into account each Fund’s earnings potential in light of the current market environment and the Fund’s leverage and asset levels.
In addition, several of the municipal Funds announced distribution reductions. Generally speaking, these distribution reductions were made in order to better align the Funds with their current earnings rates. BlackRock Municipal 2018 Term Trust (NYSE:BPK), BlackRock California Municipal 2018 Term Trust (NYSE:BJZ) and BlackRock New York Municipal 2018 Term Trust (NYSE:BLH) are each term trusts that mature on or about December 31, 2018. BPK, BJZ and BLH’s distribution reductions reflect each Fund’s projected earnings potential as well as its investment objective of returning $10 per common share (the initial public offering price per common share) to common shareholders at maturity.
| Municipal Funds: | |||||||||||
| Declaration- 6/1/2012 Ex-Date- 6/13/2012 Record- 6/15/2012 Payable- 7/2/2012 | |||||||||||
| National Funds | Ticker | Distribution | Change From Prior Distribution | ||||||||
| BlackRock Municipal Income Quality Trust | BYM | $0.078000 | - | ||||||||
| BlackRock Municipal Income Investment Quality Trust | BAF | $0.072500 | -$0.002000 | ||||||||
| BlackRock Long-Term Municipal Advantage Trust | BTA | $0.066000 | - | ||||||||
| BlackRock Muni Intermediate Duration Fund, Inc. | MUI | $0.071500 | - | ||||||||
| BlackRock MuniAssets Fund, Inc. | MUA | $0.062500 | - | ||||||||
| BlackRock Municipal 2020 Term Trust | BKK | $0.062250 | - | ||||||||
| BlackRock Municipal Bond Trust | BBK | $0.088500 | - | ||||||||
| BlackRock Municipal Bond Investment Trust | BIE | $0.081000 | - | ||||||||
| BlackRock Municipal Income Trust | BFK | $0.080100 | - | ||||||||
| BlackRock Municipal Income Trust II | BLE | $0.085000 | - | ||||||||
| BlackRock Municipal Income Investment Trust | BBF | $0.072375 | -$0.003000 | ||||||||
| BlackRock Municipal 2018 Term Trust | BPK | $0.075800 | -$0.002200 | ||||||||
| BlackRock MuniEnhanced Fund, Inc. | MEN | $0.058000 | - | ||||||||
| BlackRock MuniHoldings Fund II, Inc. | MUH | $0.083000 | - | ||||||||
| BlackRock MuniHoldings Fund, Inc. | MHD | $0.091500 | - | ||||||||
| BlackRock MuniHoldings Quality Fund II, Inc. | MUE | $0.073500 | - | ||||||||
| BlackRock MuniHoldings Quality Fund, Inc. | MUS | $0.074000 | - | ||||||||
| BlackRock MuniHoldings Investment Quality Fund | MFL | $0.076500 | - | ||||||||
| BlackRock MuniVest Fund II, Inc. | MVT | $0.091000 | - | ||||||||
| BlackRock MuniVest Fund, Inc. | MVF | $0.059000 | - | ||||||||
| BlackRock MuniYield Fund, Inc. | MYD | $0.083500 | - | ||||||||
| BlackRock MuniYield Quality Fund III, Inc. | MYI | $0.072000 | - | ||||||||
| BlackRock MuniYield Investment Quality Fund | MFT | $0.071000 | - | ||||||||
| BlackRock MuniYield Investment Fund | MYF | $0.079000 | - | ||||||||
| BlackRock MuniYield Quality Fund II, Inc. | MQT | $0.069500 | - | ||||||||
| BlackRock MuniYield Quality Fund, Inc. | MQY | $0.080000 | - | ||||||||
| The BlackRock Investment Quality Municipal Trust, Inc. | BKN | $0.084000 | - | ||||||||
| The BlackRock Strategic Municipal Trust | BSD | $0.074000 | - | ||||||||
| State-Specific Funds | Ticker | Distribution | Change From Prior Distribution | ||||||||
| BlackRock California Municipal Income Trust | BFZ | $0.077700 | - | ||||||||
| BlackRock California Municipal 2018 Term Trust | BJZ | $0.057500 | -$0.014500 | ||||||||
| BlackRock MuniHoldings California Quality Fund, Inc. | MUC | $0.079000 | - | ||||||||
| BlackRock MuniYield California Fund, Inc. | MYC | $0.079000 | - | ||||||||
| BlackRock MuniYield California Quality Fund, Inc. | MCA | $0.076000 | - | ||||||||
| BlackRock Maryland Municipal Bond Trust | BZM | $0.079000 | - | ||||||||
| BlackRock Muni New York Intermediate Duration Fund, Inc. | MNE | $0.062500 | - | ||||||||
| BlackRock MuniHoldings New York Quality Fund, Inc. | MHN | $0.079500 | - | ||||||||
| BlackRock MuniYield New York Quality Fund, Inc. | MYN | $0.071000 | - | ||||||||
| BlackRock New York Municipal 2018 Term Trust | BLH | $0.060000 | -$0.022000 | ||||||||
| BlackRock New York Municipal Income Quality Trust | BSE | $0.071500 | - | ||||||||
| BlackRock New York Municipal Bond Trust | BQH | $0.074000 | -$0.008000 | ||||||||
| BlackRock New York Municipal Income Trust | BNY | $0.082500 | - | ||||||||
| BlackRock New York Municipal Income Trust II | BFY | $0.081000 | -$0.002500 | ||||||||
| The BlackRock New York Investment Quality Municipal Trust, Inc. | RNY | $0.073000 | - | ||||||||
| BlackRock MuniHoldings New Jersey Quality Fund, Inc. | MUJ | $0.074000 | - | ||||||||
| BlackRock MuniYield New Jersey Fund, Inc. | MYJ | $0.074000 | - | ||||||||
| BlackRock MuniYield New Jersey Quality Fund, Inc. | MJI | $0.072000 | - | ||||||||
| BlackRock New Jersey Municipal Bond Trust | BLJ | $0.078000 | - | ||||||||
| BlackRock New Jersey Municipal Income Trust | BNJ | $0.081100 | $0.002000 | ||||||||
| The BlackRock New Jersey Investment Quality Municipal Trust | RNJ | $0.065500 | - | ||||||||
| BlackRock MuniYield Arizona Fund, Inc. | MZA | $0.069500 | - | ||||||||
| BlackRock MuniYield Michigan Quality Fund II, Inc. | MYM | $0.069000 | -$0.002500 | ||||||||
| BlackRock MuniYield Michigan Quality Fund, Inc. | MIY | $0.076500 | - | ||||||||
| BlackRock MuniYield Pennsylvania Quality Fund | MPA | $0.074000 | -$0.002500 | ||||||||
| The BlackRock Pennsylvania Strategic Municipal Trust | BPS | $0.071000 | -$0.005000 | ||||||||
| BlackRock Virginia Municipal Bond Trust | BHV | $0.083000 | - | ||||||||
| Massachusetts Health & Education Tax-Exempt Trust | MHE | $0.070000 | - | ||||||||
| Taxable Municipal Fund: | |||||||||||
| Declaration- 6/1/2012 Ex-Date- 6/13/2012 Record- 6/15/2012 Payable- 6/29/2012 | |||||||||||
| Fund | Ticker | Distribution | Change From Prior Distribution | ||||||||
| BlackRock Build America Bond Trust | BBN | $0.131800 | - | ||||||||
| Taxable Funds: | |||||||||||
| Declaration- 6/1/2012 Ex-Date- 6/13/2012 Record- 6/15/2012 Payable- 6/29/2012 | |||||||||||
| Fund | Ticker | Distribution | Change From Prior Distribution | ||||||||
| BlackRock Senior High Income Fund, Inc. | ARK | $0.025000 | - | ||||||||
| BlackRock Floating Rate Income Trust | BGT | $0.077500 | - | ||||||||
| BlackRock Strategic Bond Trust | BHD | $0.084500 | - | ||||||||
| BlackRock Core Bond Trust | BHK | $0.073000 | $0.006000 | ||||||||
| BlackRock Defined Opportunity Credit Trust | BHL | $0.068500 | $0.002500 | ||||||||
| The BlackRock High Yield Trust | BHY | $0.044500 | $0.001000 | ||||||||
| The BlackRock Income Trust, Inc. | BKT | $0.040500 | - | ||||||||
| BlackRock Limited Duration Income Trust | BLW | $0.107500 | $0.002500 | ||||||||
| BlackRock Income Opportunity Trust, Inc. | BNA | $0.057000 | $0.004000 | ||||||||
| BlackRock Credit Allocation Income Trust III | BPP | $0.063500 | - | ||||||||
| BlackRock Credit Allocation Income Trust IV | BTZ | $0.078500 | - | ||||||||
| BlackRock Corporate High Yield Fund, Inc. | COY | $0.051000 | - | ||||||||
| BlackRock Corporate High Yield Fund III, Inc. | CYE | $0.052500 | $0.001500 | ||||||||
| BlackRock Debt Strategies Fund, Inc. | DSU | $0.027000 | - | ||||||||
| BlackRock Diversified Income Strategies Fund, Inc. | DVF | $0.058500 | - | ||||||||
| BlackRock Enhanced Government Fund, Inc.* | EGF | $0.070000 | - | ||||||||
| BlackRock Floating Rate Income Strategies Fund, Inc. | FRA | $0.077000 | - | ||||||||
| BlackRock Floating Rate Income Strategies Fund II, Inc. | FRB | $0.073000 | - | ||||||||
| BlackRock High Income Shares | HIS | $0.015200 | $0.001000 | ||||||||
| BlackRock Corporate High Yield Fund VI, Inc. | HYT | $0.087500 | $0.004000 | ||||||||
| BlackRock Corporate High Yield Fund V, Inc. | HYV | $0.090000 | $0.004000 | ||||||||
| BlackRock Credit Allocation Income Trust I, Inc. | PSW | $0.059500 | - | ||||||||
| BlackRock Credit Allocation Income Trust II, Inc. | PSY | $0.061000 | - | ||||||||
| Equity Funds: | |||||||||||
| Declaration- 6/1/2012 Ex-Date- 6/13/2012 Record- 6/15/2012 Payable- 6/29/2012 | |||||||||||
| Fund | Ticker | Distribution | Change From Prior Distribution | ||||||||
| BlackRock Real Asset Equity Trust* | BCF | $0.271800 | - | ||||||||
| BlackRock Enhanced Equity Dividend Trust* | BDJ | $0.170000 | - | ||||||||
| BlackRock Energy and Resources Trust* | BGR | $0.405000 | - | ||||||||
| BlackRock International Growth and Income Trust* | BGY | $0.220000 | - | ||||||||
| BlackRock Health Sciences Trust* | BME | $0.384375 | - | ||||||||
| BlackRock EcoSolutions Investment Trust* | BQR | $0.235000 | - | ||||||||
| BlackRock Enhanced Capital and Income Fund, Inc.* | CII | $0.360000 | - | ||||||||
| BlackRock Resources & Commodities Strategy Trust* | BCX | $0.350000 | - | ||||||||
* 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 their shareholders as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided not for tax reporting purposes but for informational purposes only. This information can be found in the “Closed-End Funds” section of www.blackrock.com. If applicable, the final determination of the source and tax characteristics of all distributions in 2012 will be made after the end of the year.
The BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), BlackRock Real Asset Equity Trust (NYSE:BCF), BlackRock Resources & 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 EcoSolutions Investment Trust (NYSE:BQR) and BlackRock Enhanced Capital and Income Fund, Inc. (NYSE:CII) (collectively, the “Trusts”) have adopted a level distribution plan (the “Plan”) and employ either a managed distribution 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 Trust’s Board. Under its Plan, each Trust 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 quarterly/monthly basis, the Trusts will distribute long-term capital gains and or return capital to their shareholders in order to maintain a level distribution. The Trusts’ estimated sources of the distributions paid currently and for their current fiscal year through March 31, 2012 and May 31, 2012 are as follows:| Estimated Allocations as of May 31, 2012 | |||||||||||
| Trust | Distribution | Net Investment Income | Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital | ||||||
| EGF 1 | $0.070000 | $0.055662 (80%) | $0 (0%) | $0 (0%) | $0.014338 (20%) | ||||||
| Estimated Allocations as of March 31, 2012 | |||||||||||
| Trust | Distribution | Net Investment Income | Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital | ||||||
| BCF 1 | $0.271800 | $0.029998 (11%) | $0 (0%) | $0 (0%) | $0.241802 (89%) | ||||||
| BCX 1 | $0.350000 | $0.026080 (7%) | $0 (0%) | $0 (0%) | $0.323920 (93%) | ||||||
| BDJ 1 | $0.170000 | $0.027244 (16%) | $0 (0%) | $0 (0%) | $0.142756 (84%) | ||||||
| BGR 1 | $0.405000 | $0.025408 (6%) | $0.379592 (94%) | $0 (0%) | $0 (0%) | ||||||
| BGY 1 | $0.220000 | $0.012227 (6%) | $0 (0%) | $0 (0%) | $0.207773 (94%) | ||||||
| BME | $0.384375 | $0.046570 (12%) | $0.337805 (88%) | $0 (0%) | $0 (0%) | ||||||
| BQR 1 | $0.235000 | $0 (0%) | $0 (0%) | $0 (0%) | $0.235000 (100%) | ||||||
| CII 1 | $0.360000 | $0.163700 (45%) | $0 (0%) | $0 (0%) | $0.196300 (55%) | ||||||
| Estimated Allocations for the fiscal year through May 31, 2012 | |||||||||||
| Trust | Distribution | Net Investment Income | Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital | ||||||
| EGF 1 | $0.280000 | $0.254597 (91%) | $0 (0%) | $0 (0%) | $0.025403 (9%) | ||||||
| Estimated Allocations for the fiscal year through March 31, 2012 | |||||||||||
| Trust | Distribution | Net Investment Income | Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital | ||||||
| BCF 1 | $0.543600 | $0.045224 (8%) | $0.001253 (0%) | $0.060823 (11%) | $0.436300 (81%) | ||||||
| BCX 1 | $0.700000 | $0.050165 (7%) | $0 (0%) | $0 (0%) | $0.649835 (93%) | ||||||
| BDJ 1 | $0.340000 | $0.039024 (11%) | $0 (0%) | $0 (0%) | $0.300976 (89%) | ||||||
| BGR | $0.958000 | $0.066775 (7%) | $0.891225 (93%) | $0 (0%) | $0 (0%) | ||||||
| BGY 1 | $0.560000 | $0.033645 (6%) | $0 (0%) | $0 (0%) | $0.526355 (94%) | ||||||
| BME | $1.731750 | $0.060598 (3%) | $0.463110 (27%) | $1.208042 (70%) | $0 (0%) | ||||||
| BQR 1 | $0.470000 | $0.014366 (3%) | $0 (0%) | $0 (0%) | $0.455634 (97%) | ||||||
| CII 1 | $0.720000 | $0.236842 (33%) | $0 (0%) | $0 (0%) | $0.483158 (67%) | ||||||
| Trust Performance and Distribution Rate Information: | |||||||||||||
| Trust | Average annual total return (in relation to NAV) for the 5-year period ending on 04/30/2012 | Annualized current distribution rate expressed as a percentage of NAV as of 04/30/2012 | Cumulative total return (in relation to NAV) for the fiscal year through 04/30/2012 | Cumulative fiscal year distributions as a percentage of NAV as of 04/30/2012 | |||||||||
| BCF | 2.40% | 9.01% | 1.49% | 4.51% | |||||||||
| BCX 2 | (8.04)% | 8.81% | (0.96)% | 4.41% | |||||||||
| BDJ | (0.18)% | 8.03% | 10.29% | 4.01% | |||||||||
| BGR | 4.22% | 5.88% | 0.82% | 3.48% | |||||||||
| BGY 2 | (2.13)% | 10.34% | 4.99% | 6.58% | |||||||||
| BME | 7.60% | 5.56% | 10.55% | 6.26% | |||||||||
| BQR 2 | (4.00)% | 10.03% | 5.20% | 5.02% | |||||||||
| CII | 3.20% | 9.90% | 10.78% | 4.95% | |||||||||
| EGF | 4.83% | 5.17% | 1.38% | 1.29% | |||||||||
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