Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

Thu Nov 1, 2012 5:00pm EDT

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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
EGF1   $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

BOE1   $0.410000   $0.059138 (14%)   $0 (0%)   $0 (0%)   $0.350862 (86%)
BQY1   $0.250000   $0.080065 (32%)   $0.069192 (28%)   $0.075465 (30%)   $0.025278 (10%)
BUI1   $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
EGF1   $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
BOE1   $1.957500   $0.186576 (10%)   $0 (0%)   $0 (0%)   $1.770924 (90%)
BQY1   $1.270000   $0.279292 (22%)   $0.680904 (54%)   $0.236565 (19%)   $0.073239 (5%)
BUI1   $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.

Shareholders should not draw any conclusions about a Plan Fund’s investment performance from the amount of the Plan Fund’s current distributions or from the terms of the Plan Fund’s Plan.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2012, BlackRock’s AUM was $3.673 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 September 30, 2012, the firm has approximately 10,400 employees in 29 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 www.blackrock.com.

Forward-Looking Statements

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 Funds 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.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of a Fund with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

BlackRock Closed-End Funds
1-800-882-0052

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