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Certain BlackRock Closed-End Funds Announce Renewal of Share Repurchase Programs

NEW YORK--(BUSINESS WIRE)--

BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of twenty BlackRock taxable fixed-income and equity closed-end funds (the “Funds”) have authorized the renewal of open market share repurchase programs (the “Repurchase Programs”). Under each Fund’s current Repurchase Program, each Fund may repurchase, through November 30, 2018, up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2017) in open market transactions. Pursuant to the Board’s renewal of the Repurchase Programs, commencing on December 1, 2018, each Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2018) in open market transactions through November 30, 2019. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share, which could result in incremental accretion to a Fund’s NAV.

The Funds that have authorized the renewal of a Repurchase Program are as follows:

         
Ticker (NYSE)   Fund   CUSIP
BGR   BlackRock Energy and Resources Trust   09250U101
CII   BlackRock Enhanced Capital and Income Fund, Inc.   09256A109
BDJ   BlackRock Enhanced Equity Dividend Trust   09251A104
BOE   BlackRock Enhanced Global Dividend Trust   092501105
BME   BlackRock Health Sciences Trust   09250W107
BGY   BlackRock Enhanced International Dividend Trust   092524107
BCX   BlackRock Resources & Commodities Strategy Trust   09257A108
BST   BlackRock Science and Technology Trust   09258G104
BUI   BlackRock Utilities, Infrastructure & Power Opportunities Trust   09248D104
BBN   BlackRock Taxable Municipal Bond Trust   09248X100
BHK   BlackRock Core Bond Trust   09249E101
HYT   BlackRock Corporate High Yield Fund, Inc.   09255P107
BTZ   BlackRock Credit Allocation Income Trust   092508100
EGF   BlackRock Enhanced Government Fund, Inc.   09255K108
FRA   BlackRock Floating Rate Income Strategies Fund, Inc.   09255X100
BGT   BlackRock Floating Rate Income Trust   091941104
BKT   BlackRock Income Trust, Inc.   09247F100
BLW   BlackRock Limited Duration Income Trust   09249W101
BIT   BlackRock Multi-Sector Income Trust   09258A107
DSU   BlackRock Debt Strategies Fund, Inc.   09255R202
   

The amount and timing of any repurchases under each Fund’s Repurchase Program will be determined either at the discretion of the Fund’s management or pursuant to predetermined parameters and instructions subject to market conditions. There is no assurance that any Fund will repurchase shares in any particular amounts. A Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. Any repurchases made under any Fund Repurchase Program will be made on a national security exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of June 30, 2018, the firm managed approximately $6.3 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | 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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