Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

Nachrichtenquelle: Business Wire (engl.)
30.10.2020, 21:30  |  111   |   |   

Today, BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Enhanced International Dividend Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME), BlackRock Health Sciences Trust II (NYSE: BMEZ), BlackRock Enhanced Global Dividend Trust (NYSE: BOE), BlackRock Utilities, Infrastructure & Power Opportunities Trust (NYSE: BUI), BlackRock Enhanced Capital and Income Fund, Inc. (NYSE: CII), BlackRock Science and Technology Trust (NYSE: BST), BlackRock Science and Technology Trust II (NYSE: BSTZ), BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) , BlackRock Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA), BlackRock Floating Rate Income Trust (NYSE: BGT), BlackRock Corporate High Yield Fund, Inc. (NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ), BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core Bond Trust (NYSE: BHK), and BlackRock Multi-Sector Income Trust (NYSE: BIT) (collectively, the “Funds”) paid the following distributions per share:

   

Fund

Pay Date

Per Share

       

BCX

October 30, 2020

$0.040000

       

BDJ

October 30, 2020

$0.050000

       

BGR

October 30, 2020

$0.047000

       

BGY

October 30, 2020

$0.033800

       

BME

October 30, 2020

$0.200000

       

BMEZ

October 30, 2020

$0.100000

       

BOE

October 30, 2020

$0.063000

       

BUI

October 30, 2020

$0.121000

       

CII

October 30, 2020

$0.087500

       

BST

October 30, 2020

$0.187000

       

BSTZ

October 30, 2020

$0.115000

       

EGF

October 30, 2020

$0.041000

       

DSU

October 30, 2020

$0.071100

       

FRA

October 30, 2020

$0.078800

       

BGT

October 30, 2020

$0.076400

       

HYT

October 30, 2020

$0.077900

       

BTZ

October 30, 2020

$0.083900

       

BLW

October 30, 2020

$0.098100

       

BHK

October 30, 2020

$0.067600

       

BIT

October 30, 2020

$0.123700

   

Each of the Funds has adopted a managed distribution plan (the “Plan”) 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 of Directors/Trustees. 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 (the “Code”). If sufficient investment income is not available on a 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 year are as follows:

Estimated Allocations as of October 30, 2020

 

 

 

Fund

Distribution

Net Investment

Income

Net Realized Short-

Term Gains

Net Realized Long-

Term Gains

Return of Capital

BCX1

$0.040000

$0.015132 (38%)

$0 (0%)

$0 (0%)

$0.024868 (62%)

BDJ

$0.050000

$0.019034 (38%)

$0 (0%)

$0.030966 (62%)

$0 (0%)

BGR1

$0.047000

$0.013670 (29%)

$0 (0%)

$0 (0%)

$0.033330 (71%)

BGY1

$0.033800

$0.008501 (25%)

$0 (0%)

$0 (0%)

$0.025299 (75%)

BME1

$0.200000

$0 (0%)

$0 (0%)

$0.004774 (2%)

$0.195226 (98%)

BMEZ1

$0.100000

$0 (0%)

$0.100000 (100%)

$0 (0%)

$0 (0%)

BOE1

$0.063000

$0.019606 (31%)

$0 (0%)

$0 (0%)

$0.043394 (69%)

BUI1

$0.121000

$0 (0%)

$0 (0%)

$0.032005 (26%)

$0.088995 (74%)

CII1

$0.087500

$0.000173 (0%)

$0 (0%)

$0.087327 (100%)

$0 (0%)

BST1

$0.187000

$0 (0%)

$0 (0%)

$0.187000 (100%)

$0 (0%)

BSTZ1

$0.115000

$0 (0%)

$0 (0%)

$0 (0%)

$0.115000 (100%)

EGF1

$0.041000

$0.025239 (62%)

$0 (0%)

$0 (0%)

$0.015761 (38%)

DSU1

$0.071100

$0.048598 (68%)

$0 (0%)

$0 (0%)

$0.022502 (32%)

FRA1

$0.078800

$0.053926 (68%)

$0 (0%)

$0 (0%)

$0.024874 (32%)

BGT1

$0.076400

$0.052686 (69%)

$0 (0%)

$0 (0%)

$0.023714 (31%)

HYT1

$0.077900

$0.066893 (86%)

$0 (0%)

$0 (0%)

$0.011007 (14%)

BTZ1

$0.083900

$0.069833 (83%)

$0 (0%)

$0 (0%)

$0.014067 (17%)

BLW1

$0.098100

$0.085018 (87%)

$0 (0%)

$0 (0%)

$0.013082 (13%)

BHK

$0.067600

$0.062408 (92%)

$0.005192 (8%)

$0 (0%)

$0 (0%)

BIT1

$0.123700

$0.084159 (68%)

$0 (0%)

$0 (0%)

$0.039541 (32%)

 

Estimated Allocations for the Fiscal Year through October 30, 2020

Fund

Distribution

Net Investment

Income

Net Realized Short-

Term Gains

Net Realized Long-

Term Gains

Return of Capital

BCX1

$0.446400

$0.185515 (42%)

$0 (0%)

$0 (0%)

$0.260885 (58%)

BDJ

$0.500000

$0.272234 (54%)

$0 (0%)

$0.227766 (46%)

$0 (0%)

BGR1

$0.573200

$0.271570 (47%)

$0 (0%)

$0 (0%)

$0.301630 (53%)

BGY1

$0.338000

$0.116541 (34%)

$0 (0%)

$0 (0%)

$0.221459 (66%)

BME1

$2.000000

$0.009058 (0%)

$0 (0%)

$0.409646 (20%)

$1.581296 (80%)

BMEZ1

$0.700000

$0 (0%)

$0.700000 (100%)

$0 (0%)

$0.000000 (0%)

BOE1

$0.630000

$0.239174 (38%)

$0 (0%)

$0 (0%)

$0.390826 (62%)

BUI1

$1.210000

$0.296930 (25%)

$0 (0%)

$0.115983 (10%)

$0.797087 (65%)

CII1

$0.875000

$0.121631 (14%)

$0 (0%)

$0.573995 (66%)

$0.179374 (20%)

BST1

$1.676500

$0 (0%)

$0 (0%)

$0.531278 (32%)

$1.145222 (68%)

BSTZ1

$1.015000

$0 (0%)

$0 (0%)

$0 (0%)

$1.015000 (100%)

EGF1

$0.369000

$0.271384 (74%)

$0 (0%)

$0 (0%)

$0.097616 (26%)

DSU1

$0.639900

$0.518525 (81%)

$0 (0%)

$0 (0%)

$0.121375 (19%)

FRA1

$0.709200

$0.550610 (78%)

$0 (0%)

$0 (0%)

$0.158590 (22%)

BGT1

$0.687600

$0.539014 (78%)

$0 (0%)

$0 (0%)

$0.148586 (22%)

HYT1

$0.701100

$0.650375 (93%)

$0 (0%)

$0 (0%)

$0.050725 (7%)

BTZ1

$0.755100

$0.682798 (90%)

$0 (0%)

$0 (0%)

$0.072302 (10%)

BLW1

$0.882900

$0.804562 (91%)

$0 (0%)

$0 (0%)

$0.078338 (9%)

BHK

$0.608400

$0.600793 (99%)

$0.007607 (1%)

$0 (0%)

$0 (0%)

BIT1

$1.484400

$1.042089 (70%)

$0 (0%)

$0 (0%)

$0.442311 (30%)

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 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 being provided to you pursuant to regulatory requirements and are not being 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 Fund 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

9/30/2020

Annualized current

distribution rate

expressed as a

percentage of NAV as of

9/30/2020

Cumulative total return

(in relation to NAV) for

the fiscal year through

9/30/2020

Cumulative fiscal year

distributions as a

percentage of NAV as of

9/30/2020

BCX

4.94%

6.64%

(14.62)%

5.62%

BDJ

7.33%

7.26%

(12.51)%

5.44%

BGR

(7.60)%

8.29%

(42.06)%

7.74%

BGY

5.73%

6.64%

0.05%

4.98%

BME

12.20%

5.60%

8.78%

4.20%

BMEZ*

35.12%

4.56%

35.12%

2.28%

BOE

5.69%

6.73%

(3.24)%

5.04%

BUI

9.98%

6.81%

2.16%

5.11%

CII

10.72%

6.13%

0.44%

4.60%

BST

26.96%

5.24%

37.42%

3.48%

BSTZ*

55.84%

4.73%

45.10%

3.08%

EGF

2.39%

3.65%

2.21%

2.43%

DSU

6.30%

7.61%

(2.98)%

5.07%

FRA

4.53%

7.04%

(2.37)%

4.69%

BGT

4.46%

7.03%

(2.28)%

4.69%

HYT

8.41%

8.28%

0.71%

5.52%

BTZ

8.20%

6.71%

5.25%

4.47%

BLW

6.89%

7.28%

0.14%

4.86%

BHK

8.61%

5.03%

9.01%

3.35%

BIT

8.35%

8.44%

7.33%

7.74%

* Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 9/30/2020.

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

BKT has adopted a Plan whereby beginning August 2018 the Fund will make fixed monthly distributions to common stockholders and will distribute all available investment income to its stockholders, consistent with its investment objective and as required by the Code. The fixed amount distributed per share is subject to change at the discretion of BKT’s Board. If sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain a level distribution. The Fund is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund expects that distributions under the Plan will exceed current income and capital gains and therefore will likely include a return of capital. BKT may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act.

BKT’s estimated sources of the distributions paid as of October 30, 2020 and for its current fiscal year are as follows:

Estimated Allocations as of October 30, 2020

 

Fund

Distribution

Net Investment

Income

Net Realized

Short-Term Gains

Net Realized

Long-Term Gains

Return of Capital

BKT2

$0.034400

$0.028239 (82%)

$0 (0%)

$0 (0%)

$0.006161 (18%)

Estimated Allocations for the Fiscal Year through October 30, 2020

 

Fund

Distribution

Net Investment

Income

Net Realized

Short-Term Gains

Net Realized

Long-Term Gains

Return of Capital

BKT2

$0.309600

$0.269807 (87%)

$0 (0%)

$0 (0%)

$0.039793 (13%)

2BKT estimates that it has distributed more than its income and net realized 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 a stockholder’s investment is paid back to the stockholder. A return of capital distribution does not necessarily reflect BKT’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce BKT’s net asset value per share.

The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon BKT’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. BKT will send its stockholders a Form 1099-DIV for the calendar year that will illustrate how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:

 

Fund

Average annual total

return (in relation to

NAV) for the 5-year

period ending on

9/30/2020

Annualized current

distribution rate

expressed as a percentage

of NAV as of 9/30/2020

Cumulative total return

(in relation to NAV) for

the fiscal year through

9/30/2020

Cumulative fiscal year

distributions as a

percentage of NAV as

9/30/2020

BKT

3.61%

6.56%

4.41%

4.38%

 

No conclusions should be drawn about BKT’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan.

The amount distributed per share under a Plan is subject to change at the discretion of the applicable Fund’s Board. Each Plan will be subject to ongoing review by the Board to determine whether the Plan should be continued, modified or terminated. The Board may amend the terms of a Plan or suspend or terminate a Plan at any time without prior notice to the Fund’s shareholders if it deems such actions to be in the best interest of the Fund or its shareholders. The amendment or termination of a Plan could have an adverse effect on the market price of the Fund's shares.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2020, the firm managed approximately $7.81 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s 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 the Funds 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.

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Disclaimer

Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions Today, BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Enhanced International Dividend Trust (NYSE: BGY), BlackRock …

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