Certain BlackRock Closed-End Funds Announce Election To Opt In to Maryland Control Share Acquisition Act

NEW YORK--(BUSINESS WIRE)--The boards of directors (the “Board”) of the BlackRock closed-end funds listed in the below table (each a “Fund” and collectively, the “Funds”) announced that each Fund has elected to be subject to the Maryland Control Share Acquisition Act (the “MCSAA”), effective immediately.

Fund	Ticker	CUSIP
BlackRock Investment Quality Municipal Trust, Inc.	BKN	09247D105
BlackRock Income Trust, Inc.	BKT	09247F100
BlackRock Enhanced Capital and Income Fund, Inc.	CII	09256A109
BlackRock Debt Strategies Fund, Inc.	DSU	09255R202
BlackRock Enhanced Government Fund, Inc.	EGF	09255K108
BlackRock Floating Rate Income Strategies Fund, Inc.	FRA	09255X100
BlackRock Corporate High Yield Fund, Inc.	HYT	09255P107
BlackRock MuniYield California Quality Fund, Inc.	MCA	09254N103
BlackRock MuniHoldings New York Quality Fund, Inc.	MHN	09255C106
BlackRock MuniYield Michigan Quality Fund, Inc.	MIY	09254V105
BlackRock MuniYield Quality Fund II, Inc.	MQT	09254G108
BlackRock MuniAssets Fund, Inc.	MUA	09254J102
BlackRock MuniHoldings California Quality Fund, Inc.	MUC	09254L107
BlackRock MuniHoldings Quality Fund II, Inc.	MUE	09254C107
BlackRock Muni Intermediate Duration Fund, Inc.	MUI	09253X102
BlackRock MuniHoldings New Jersey Quality Fund, Inc.	MUJ	09254X101
BlackRock MuniVest Fund, Inc.	MVF	09253R105
BlackRock MuniVest Fund II, Inc.	MVT	09253T101
BlackRock MuniYield California Fund, Inc.	MYC	09254M105
BlackRock MuniYield Fund, Inc.	MYD	09253W104
BlackRock MuniYield Quality Fund III, Inc.	MYI	09254E103
BlackRock MuniYield New Jersey Fund, Inc.	MYJ	09254Y109
BlackRock MuniYield New York Quality Fund, Inc.	MYN	09255E102

The Board believes that electing to be subject to the MCSAA protects the interests of the Funds. Maryland lawmakers instituted the MCSAA to limit the ability of any single stockholder to exert undue influence in pursuit of short-term gains at the expense of long-term value for Fund stockholders and the Fund’s ability to achieve its investment objective.

The election to become subject to the MCSAA limits the ability of holders of “control shares” to vote those shares above various threshold levels that start at 10% unless the other stockholders of a Fund reinstate those voting rights at a meeting of stockholders as provided in the MCSAA. The bylaws for each Fund provide that the provisions of the MCSAA do not apply to the voting rights of the holders of any shares of preferred stock of the Fund (but only with respect to such preferred stock).

The above description of the MCSAA is only a high-level summary and does not purport to be complete. Investors should refer to the actual provisions of the MCSAA and each Fund’s bylaws for more information, including definitions of key terms, various exclusions and exemptions from the statute’s scope, and the procedures by which stockholders may approve the reinstatement of voting rights to holders of “control 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.