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

Business Wire

NEW YORK--(BUSINESS WIRE)--

Certain BlackRock closed-end funds (the “Funds”) announced January monthly distributions and special distributions today as detailed below.

January Monthly Distributions

Taxable Municipal Fund:

Declaration- 12/19/2013     Ex-Date- 12/27/2013     Record- 12/31/2013     Payable- 1/8/2014
Fund     Ticker     Distribution    

Change From
Prior
Distribution

BlackRock Build America Bond Trust BBN $0.131800 -
 

Taxable Funds:

Declaration- 12/19/2013     Ex-Date- 12/27/2013     Record- 12/31/2013     Payable- 1/8/2014
Fund     Ticker     Distribution    

Change From
Prior
Distribution

BlackRock Floating Rate Income Trust* BGT $0.072500 -
BlackRock Core Bond Trust BHK $0.075500 -
BlackRock Defined Opportunity Credit Trust BHL $0.066000 -
BlackRock Multi-Sector Income Trust BIT $0.116700 -
BlackRock Income Trust, Inc. BKT $0.037000 -
BlackRock Limited Duration Income Trust BLW $0.104500 -
BlackRock Income Opportunity Trust, Inc. BNA $0.059500 -
BlackRock Credit Allocation Income Trust BTZ $0.080500 -
BlackRock Debt Strategies Fund, Inc.* DSU $0.025000 -
BlackRock Enhanced Government Fund, Inc.* EGF $0.055000 -
BlackRock Floating Rate Income Strategies Fund, Inc. FRA $0.075500 -
BlackRock Corporate High Yield Fund VI, Inc. HYT $0.080500 -
 

Special Distributions

Declaration- 12/19/2013     Ex-Date- 12/27/2013     Record- 12/31/2013     Payable- 1/8/2014
Fund     Ticker     Special Distribution
BlackRock Defined Opportunity Credit Trust BHL $0.075000
BlackRock Floating Rate Income Strategies Fund, Inc. FRA $0.018800
 

* 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 distribution 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 2013 will be made after the end of the year.

BlackRock Enhanced Government Fund, Inc. (EGF) (“EGF”) has adopted a level distribution plan (the “Plan”) and employs a managed distribution and/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 EGF’s Board of Directors. Under the Plan, EGF 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 monthly basis, EGF will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.

EGF’s estimated sources of the distribution paid as of December 19, 2013 and for its current fiscal year are as follows:

 
Estimated Allocations as of December 19, 2013      
Fund     Distribution    

Net Investment
Income

   

Net Realized
Short-Term
Gains

   

Net Realized
Long-Term
Gains

    Return of Capital
EGF1     $0.055000     $0.038703 (70%)     $0 (0%)     $0 (0%)     $0.016297 (30%)
                   
Estimated Allocations for the fiscal year through December 19, 2013      
Fund     Distribution    

Net Investment
Income

   

Net Realized
Short-Term
Gains

   

Net Realized
Long-Term
Gains

    Return of Capital
EGF1     $0.705000     $0.437516 (62%)     $0 (0%)     $0 (0%)     $0.267484 (38%)
 

1 EGF 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 the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect EGF’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce EGF’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 EGF’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. EGF will send its shareholders a Form 1099-DIV for the calendar year that will tell its shareholders 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
11/30/2013

   

Annualized current
distribution rate
expressed as a
percentage of NAV as
of 11/30/2013

   

Cumulative total
return (in relation to
NAV) for the fiscal
year through

11/30/2013

   

Cumulative fiscal
year distributions
as a percentage of
NAV as of
11/30/2013

EGF     5.46%     4.33%     (1.19)%     4.27%
 

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

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2013, BlackRock’s assets under management were $4.096 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include 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, 2013, the firm had approximately 11,200 employees in 30 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.

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

Rates

View Comments (0)