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Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. Several of the municipal Funds announced distribution reductions. Generally, these distribution reductions were made in order to better align the Funds’ distribution rates with their current level of earnings.
BlackRock Floating Rate Income Strategies Fund, Inc.
BlackRock High Income Shares
BlackRock Corporate High Yield Fund VI, Inc.
BlackRock Corporate High Yield Fund V, Inc.
BlackRock Credit Allocation Income Trust I, Inc.
BlackRock Credit Allocation Income Trust II, Inc.
* 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 of record 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.
BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) (“EGF”) has adopted a level distribution plan (the “Plan”) and employs 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 EGF’s Board. Under its Plan, EGF 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 monthly basis, EGF will distribute long-term capital gains and or return capital to its shareholders in order to maintain a level distribution.
EGF’s estimated sources of the distribution paid this month and for its current fiscal year are as follows:
Estimated Allocations as of 9/28/2012
Return of Capital
Estimated Allocations for the fiscal year through 9/28/2012
Return of Capital
1 The 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 not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon EGF’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. EGF 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 total
return (in relation to
return (in relation
NAV) for the 5-year
expressed as a
to NAV) for the
as a percentage of
period ending on
percentage of NAV as
fiscal year through
NAV as of
Shareholders should not draw any conclusions about EGF’s investment performance from the amount of EGF’s current distributions or from the terms of EGF’s Plan.About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2012, BlackRock’s AUM was $3.560 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds,
iShares®(exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through
BlackRock Solutions®. Headquartered in New York City, as of June 30, 2012, the firm has approximately 9,900 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit BlackRock’s website at
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 Fund 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.