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Certain BlackRock Closed-End Funds Announce Estimated Sources Of Distributions

Stocks in this article: BOE BQY BUI EGF

Today, BlackRock Enhanced Government Fund, Inc. (NYSE:EGF), BlackRock Global Opportunities Equity Trust (NYSE:BOE), BlackRock S&P Quality Rankings Global Equity Managed Trust (NYSE MKT:BQY) and BlackRock Utility and Infrastructure Trust (NYSE:BUI) (collectively, the “Funds”) paid the following dividends per share:

             
Ticker     Pay Date     Per Share
EGF     February 28, 2013     $0.065000
BOE     February 28, 2013     $0.311650
BQY     February 28, 2013     $0.230000
BUI     February 28, 2013     $0.362500
       

Each of the Funds 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 each Fund’s Board. Under its Plan, each 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, the Funds will distribute long-term capital gains and or return capital to their shareholders in order to maintain a level distribution.

The Funds’ estimated sources of the distributions paid this month and for their current fiscal years are as follows:

   
Estimated Allocations as of February 28, 2013      
Trust     Distribution    

Net Investment

Income

   

Net Realized

Short-Term Gains

   

Net Realized

Long-Term Gains

    Return of Capital
EGF 1     $0.065000     $0.050921 (78%)     $0 (0%)     $0 (0%)     $0.014079 (22%)
BOE 1     $0.311650     $0.018285 (6%)     $0 (0%)     $0 (0%)     $0.293365 (94%)
BQY 1     $0.230000     $0.067997 (30%)     $0.045704 (20%)     $0.116299 (50%)     $0 (0%)
BUI 1     $0.362500     $0.173911 (48%)     $0.004254 (1%)     $0.028701 (8%)     $0.155634 (43%)
 

Estimated Allocations for the Fiscal Year Through February 28, 2013

     
Trust     Distribution    

Net Investment

Income

   

Net Realized

Short-Term Gains

   

Net Realized

Long-Term Gains

    Return of Capital
EGF 1     $0.065000     $0.050921 (78%)     $0 (0%)     $0 (0%)     $0.014079 (22%)
BOE 1     $0.623300     $0.026701 (4%)     $0 (0%)     $0 (0%)     $0.596599 (96%)
BQY 1     $0.480000     $0.091573 (19%)     $0.091905 (19%)     $0.192085 (40%)     $0.104437 (22%)
BUI 1     $0.725000     $0.197837 (27%)     $0.022575 (3%)     $0.028701 (4%)     $0.475887 (66%)
               

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 a 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 each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Funds 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:
Trust    

Average annual

total return (in

relation to NAV)

for the 5-year

period ending on

01/31/2013

   

Annualized current

distribution rate

expressed as a

percentage of NAV as

of 01/31/2013

   

Cumulative total return

(in relation to NAV) for

the fiscal year through

01/31/2013

   

Cumulative fiscal year

distributions as a

percentage of NAV as

of 01/31/2013

EGF *     4.56%     4.88%     (0.68)%     0.00%
BOE     1.92%     7.96%     7.01%     1.99%
BQY     2.29%     6.64%     5.14%     1.80%
BUI **     13.50%     7.06%     3.67%     1.76%
               

*The first dividend distribution for this portfolio's fiscal year is payable on 2/28/13. **Portfolio launched within the past 5 years; this represents the average annual total return (in relation to NAV) from inception to 01/31/2013.

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