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Distribution Dates And Amounts Announced For Certain BlackRock Closed-End Funds

Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. BlackRock Global Opportunities Equity Trust (NYSE:BOE) announced a dividend reduction. This dividend reduction takes into account BOE’s relatively high previous distribution level, the current level of BOE’s net assets and current and projected levels of dividend income, option premiums and volatility in the market.

           

Municipal Funds:

 
Declaration- 11/1/2012 Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 12/3/2012
 
National Funds         Ticker       Distribution       Change From Prior

Distribution

BlackRock Municipal Income Quality Trust BYM $0.078000 -
BlackRock Municipal Income Investment Quality Trust BAF $0.068500 -
BlackRock Long-Term Municipal Advantage Trust BTA $0.062000 -
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 $0.083500 -
BlackRock Municipal Bond Investment Trust BIE $0.078000 -
BlackRock Municipal Income Trust BFK $0.080100 -
BlackRock Municipal Income Trust II BLE $0.085000 -
BlackRock Municipal Income Investment Trust BBF $0.072375 -
BlackRock Municipal Target Term Trust* BTT $0.099000 -
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 $0.070500 -
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 $0.080000 -
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 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 Florida Municipal 2020 Term Trust BFO $0.056000 -
BlackRock Maryland Municipal Bond Trust BZM $0.066500 -
BlackRock Muni New York Intermediate Duration Fund, Inc. MNE $0.062500 -
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.076500 -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.071000 -
BlackRock New York Municipal Income Quality Trust BSE $0.071500 -
BlackRock New York Municipal Bond Trust BQH $0.071000 -
BlackRock New York Municipal Income Trust BNY $0.075000 -
BlackRock New York Municipal Income Trust II BFY $0.077000 -
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 $0.073000 -
BlackRock New Jersey Municipal Income Trust BNJ $0.081100 -
BlackRock MuniYield Arizona Fund, Inc. MZA $0.069500 -
BlackRock MuniYield Michigan Quality Fund II, Inc. MYM $0.069000 -
BlackRock MuniYield Michigan Quality Fund, Inc. MIY $0.076500 -
BlackRock MuniYield Pennsylvania Quality Fund MPA $0.074000 -
The BlackRock Pennsylvania Strategic Municipal Trust BPS $0.071000 -
BlackRock Virginia Municipal Bond Trust BHV $0.078000 -
Massachusetts Health & Education Tax-Exempt Trust MHE $0.062500 -

Taxable Municipal Fund:

       
   
Declaration- 11/1/2012 Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 11/30/2012
 
Fund                     Ticker       Distribution       Change From Prior

Distribution

BlackRock Build America Bond Trust* BBN $0.131800 -

Taxable Funds:

       
   
Declaration- 11/1/2012 Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 11/30/2012
 
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 -
BlackRock Defined Opportunity Credit Trust BHL $0.068500 -
The BlackRock High Yield Trust BHY $0.044500 -
The BlackRock Income Trust, Inc. BKT $0.040500 -
BlackRock Limited Duration Income Trust BLW $0.107500 -
BlackRock Income Opportunity Trust, Inc. BNA $0.057000 -
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 -
BlackRock Debt Strategies Fund, Inc. DSU $0.027000 -
BlackRock Enhanced Government Fund, Inc.* EGF $0.070000 -
BlackRock Floating Rate Income Strategies Fund, Inc.* FRA $0.077000 -
BlackRock High Income Shares HIS $0.015200 -
BlackRock Corporate High Yield Fund VI, Inc. HYT $0.087500 -
BlackRock Corporate High Yield Fund V, Inc. HYV $0.090000 -
BlackRock Credit Allocation Income Trust I, Inc. PSW $0.059500 -
BlackRock Credit Allocation Income Trust II, Inc. PSY $0.061000 -

Equity Funds:

       
   
Declaration- 11/1/2012 Ex-Date- 11/13/2012 Record- 11/15/2012 Payable- 11/30/2012
 
Fund   Ticker   Dividend   Change From Prior

Distribution

BlackRock Global Opportunities Equity Trust* BOE $0.311650 -$0.098350
BlackRock S&P Quality Rankings Global Equity Managed Trust* BQY $0.250000 -
BlackRock Utility and Infrastructure Trust* BUI $0.362500 -

* 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 dividend 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 2012 will be made after the end of the year.

BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), BlackRock Global Opportunities Equity Trust (NYSE:BOE), BlackRock S&P Quality Rankings Global Equity Managed Trust (NYSE AMEX:BQY) and BlackRock Utility and Infrastructure Trust (NYSE:BUI) (collectively, the “Plan Funds”) have adopted a level distribution plan (a “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 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 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, 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 August 31, 2012 or October 31, 2012, as applicable, and for their current fiscal year are as follows:

Estimated Allocations as of October 31, 2012        

Plan

   

Net Investment

 

Net Realized

 

Net Realized

 

Fund

  Distribution  

Income

 

Short-Term Gains

 

Long-Term Gains

  Return of Capital
EGF 1   $0.070000   $0.046478 (66%)   $0 (0%)   $0 (0%)   $0.023522 (34%)
 
Estimated Allocations as of August 31, 2012        

Plan

Net Investment

Net Realized

Net Realized

Fund

  Distribution  

Income

 

Short-Term Gains

 

Long-Term Gains

 

Return of Capital

BOE 1   $0.410000   $0.059138 (14%)   $0 (0%)   $0 (0%)   $0.350862 (86%)
BQY 1   $0.250000   $0.080065 (32%)   $0.069192 (28%)   $0.075465 (30%)   $0.025278 (10%)
BUI 1   $0.362500   $0.209247 (58%)   $0 (0%)   $0 (0%)   $0.153253 (42%)
 

Estimated Allocations for the fiscal year through October 31, 2012

   

Plan

Net Investment

Net Realized

Net Realized

Fund

  Distribution  

Income

 

Short-Term Gains

 

Long-Term Gains

  Return of Capital
EGF 1   $0.630000   $0.518507 (82%)   $0 (0%)   $0 (0%)   $0.111493 (18%)
 
Estimated Allocations for the fiscal year through August 31, 2012    

Plan

Net Investment

Net Realized

Net Realized

Fund

  Distribution  

Income

 

Short-Term Gains

 

Long-Term Gains

  Return of Capital
BOE 1   $1.957500   $0.186576 (10%)   $0 (0%)   $0 (0%)   $1.770924 (90%)
BQY 1   $1.270000   $0.279292 (22%)   $0.680904 (54%)   $0.236565 (19%)   $0.073239 (5%)
BUI 1   $1.087500   $0.444708 (41%)   $0.038022 (3%)   $0 (0%)   $0.604770 (56%)

1 The Plan Fund estimates that it has distributed more than its income and capital gains in the current fiscal year; therefore, a portion of the 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 a Plan Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

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 shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report distributions for federal income tax purposes.

Plan Fund Performance and Distribution Rate Information:  
  Average annual total   Annualized current    

Cumulative fiscal

return (in relation to

distribution rate

Cumulative total return

year distributions

NAV) for the 5- year

expressed as a

(in relation to NAV) for

as a percentage

Plan

period ending

percentage of NAV as

the fiscal year through

of NAV as of

Fund

  on 09/30/2012   of 09/30/2012  

09/30/2012

 

09/30/2012

EGF   5.34%   5.17%   3.76%   3.44%
BOE   (0.51)%   11.19%   7.58%   13.36%
BQY   (0.51)%   7.50%   10.30%   9.52%

BUI *

  12.74%   7.31%   10.72%   5.48%

* Portfolio launched within the past 5 years; this represents the average annual total return (in relation to NAV) from inception to 9/30/2012.

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