BlackRock Announces Management Fee Waiver for Certain Closed-End Funds

The BlackRock closed-end funds (each a “Fund,” and collectively the “Funds”) listed below announced today the implementation of voluntary management fee waivers, effective May 1, 2024. Under the terms of this initiative, BlackRock Advisors, LLC (“BlackRock”) intends to waive management fees if certain conditions, detailed below, are met. In addition, BlackRock will be waiving an additional one-time $2 million in management/advisory fees pro-rata across the Funds.

“We believe this fee waiver is a meaningful enhancement to these Funds and will increase tax-exempt income to shareholders, consistent with their investment objective. We will continue to evaluate options for improving our closed-end funds for the benefit of all shareholders, as we work to protect and advance their best interests,” said R. Glenn Hubbard, Chair of the Board of BlackRock Closed-End Funds.

BlackRock Closed-End Funds Implementing a Voluntary Management Fee Waiver
Fund Name	Ticker
BlackRock MuniHoldings California Quality Fund, Inc.	MUC
BlackRock MuniHoldings New Jersey Quality Fund, Inc.	MUJ
BlackRock MuniHoldings New York Quality Fund, Inc.	MHN
BlackRock MuniHoldings Fund, Inc.	MHD
BlackRock MuniHoldings Quality Fund II, Inc.	MUE
BlackRock MuniAssets Fund, Inc.	MUA
BlackRock Investment Quality Municipal Trust, Inc.	BKN
BlackRock MuniYield Fund, Inc.	MYD
BlackRock MuniYield Quality Fund III, Inc.	MYI
BlackRock MuniYield New York Quality Fund, Inc.	MYN
BlackRock MuniYield Quality Fund, Inc.	MQY
BlackRock MuniYield Quality Fund II, Inc.	MQT
BlackRock MuniYield Michigan Quality Fund, Inc.