NEW YORK--(BUSINESS WIRE)--Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below.
BlackRock 2022 Global Income Opportunity Trust (NYSE: BGIO) has entered into a Plan of Liquidation, which was announced on June 30th . BGIO did not declare its regular monthly distribution today and anticipates terminating and making a final liquidating distribution by December 31, 2021. Upon the effectiveness of BGIO’s Plan of Liquidation, the Automatic Dividend Reinvestment Plan of the Fund has been suspended with respect to any dividends or distributions for which the record date is on or after June 30, 2021. All such dividends or distributions will be paid in cash.
Taxable Fixed Income Funds:
Declaration- 12/3/2021 Ex-Date- 12/14/2021 Record- 12/15/2021 Payable- 12/22/2021
Fund |
Ticker |
|
Distribution |
|
Change From
|
|
BGT |
|
$0.064700 |
|
- |
||
BHK |
|
$0.074600 |
|
- |
||
BIT |
|
$0.123700 |
|
- |
||
BKT |
|
$0.034400 |
|
- |
||
BLW |
|
$0.098100 |
|
- |
||
BTZ |
|
$0.083900 |
|
- |
||
DSU |
|
$0.060500 |
|
- |
||
EGF |
|
$0.041000 |
|
- |
||
FRA |
|
$0.066700 |
|
- |
||
HYT |
|
$0.077900 |
|
- |
||
|
|
|
|
Taxable Municipal Fund:
Declaration- 12/3/2021 Ex-Date- 12/14/2021 Record- 12/15/2021 Payable- 12/22/2021
Fund |
Ticker |
|
Distribution |
|
Change From
|
|
BBN |
|
$0.122900 |
|
- |
* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”), each of the Funds noted above posted to the DTC bulletin board and sent to its 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 2021 will be made after the end of the year.
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 “Plan Funds”) have adopted a managed distribution plan (a “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 Plan Fund’s Board of Directors/Trustees. Under its Plan, each Plan Fund will distribute all available investment income to its shareholders, consistent with its 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, each Plan Fund will distribute long-term capital gains and/or return capital to its 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 November 30, 2021 |
|||||||
Fund |
Distribution |
Net Income |
Net Realized Short-
|
Net Realized Long-
|
Return of Capital |
||
EGF1 |
$0.041000 |
$0.022336 (54%) |
$0 (0%) |
$0 (0%) |
$0.018664 (46%) |
||
DSU1 |
$0.060500 |
$0.050484 (83%) |
$0 (0%) |
$0 (0%) |
$0.010016 (17%) |
||
FRA1 |
$0.066700 |
$0.054633 (82%) |
$0 (0%) |
$0 (0%) |
$0.012067 (18%) |
||
BGT1 |
$0.064700 |
$0.054603 (84%) |
$0 (0%) |
$0 (0%) |
$0.010097 (16%) |
||
HYT1 |
$0.077900 |
$0.064011 (82%) |
$0 (0%) |
$0 (0%) |
$0.013889 (18%) |
||
BTZ1 |
$0.083900 |
$0.072946 (87%) |
$0 (0%) |
$0 (0%) |
$0.010954 (13%) |
||
BLW1 |
$0.098100 |
$0.083698 (85%) |
$0 (0%) |
$0 (0%) |
$0.014402 (15%) |
||
BHK |
$0.074600 |
$0.074600 (100%) |
$0 (0%) |
$0 (0%) |
$0 (0%) |
||
BIT1 |
$0.123700 |
$0.087114 (70%) |
$0 (0%) |
$0 (0%) |
$0.036586 (30%) |
||
Estimated Allocations for the Fiscal Year through November 30, 2021 |
|||||
Fund |
Distribution |
Net Income |
Net Realized Short-
|
Net Realized Long-
|
Return of Capital |
EGF1 |
$0.410000 |
$0.264350 (64%) |
$0 (0%) |
$0 (0%) |
$0.145650 (36%) |
DSU1 |
$0.605000 |
$0.538068 (89%) |
$0 (0%) |
$0 (0%) |
$0.066932 (11%) |
FRA1 |
$0.667000 |
$0.581772 (87%) |
$0 (0%) |
$0 (0%) |
$0.085228 (13%) |
BGT1 |
$0.647000 |
$0.568436 (88%) |
$0 (0%) |
$0 (0%) |
$0.078564 (12%) |
HYT1 |
$0.779000 |
$0.658476 (85%) |
$0 (0%) |
$0 (0%) |
$0.120524 (15%) |
BTZ1 |
$0.839000 |
$0.758271 (90%) |
$0 (0%) |
$0 (0%) |
$0.080729 (10%) |
BLW1 |
$0.981000 |
$0.880803 (90%) |
$0 (0%) |
$0 (0%) |
$0.100197 (10%) |
BHK |
$0.746000 |
$0.746000 (100%) |
$0 (0%) |
$0 (0%) |
$0 (0%) |
BIT1 |
$0.123700 |
$0.087114 (70%) |
$0 (0%) |
$0 (0%) |
$0.036586 (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
|
Annualized current
|
Cumulative total return
|
Cumulative fiscal year
|
EGF |
1.63% |
3.83% |
(0.87)% |
2.87% |
DSU |
6.56% |
6.23% |
5.92% |
4.67% |
FRA |
5.24% |
5.73% |
5.76% |
4.30% |
BGT |
5.20% |
5.73% |
5.85% |
4.29% |
HYT |
9.15% |
7.74% |
6.94% |
5.81% |
BTZ |
7.91% |
6.56% |
2.61% |
4.92% |
BLW |
7.17% |
7.06% |
3.69% |
5.30% |
BHK |
7.24% |
5.65% |
0.49% |
4.24% |
BIT |
8.35% |
8.26% |
10.55% |
0.69% |
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 and BBN have adopted a Plan whereby the Fund will make fixed monthly distributions to common stockholders and will distribute all available net 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 and BBN’s Board. If sufficient net income is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain a level distribution. BKT and BBN are currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund expects that distributions under the Plan will exceed current income and capital gains and therefore will likely include a return of capital. BKT and BBN 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 and BBN’s estimated sources of the distributions paid as of November 30, 2021 and for its current fiscal year are as follows:
Estimated Allocations as of November 30, 2021 |
|
|
|||||
Fund |
Distribution |
Net Income |
Net Realized
|
Net Realized
|
Return of Capital |
|
|
BKT |
$0.034400 |
$0.022586 (66%) |
$0 (0%) |
$0 (0%) |
$0.011814 (34%) |
|
|
BBN |
$0.122900 |
$0.109220 (89%) |
$0 (0%) |
$0 (0%) |
$0.013680 (11%) |
|
|
Estimated Allocations for the Fiscal Year through November 30, 2021 |
|
|
|||||
Fund |
Distribution |
Net Income |
Net Realized
|
Net Realized
|
Return of Capital |
|
|
BKT |
$0.344000 |
$0.263801 (77%) |
$0 (0%) |
$0 (0%) |
$0.080199 (23%) |
|
|
BBN |
$0.479800 |
$0.434476 (91%) |
$0 (0%) |
$0 (0%) |
$0.045324 (9%) |
|
|
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 and BBN’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. BKT and BBN 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
|
Annualized current
|
Cumulative total return
|
Cumulative fiscal year
|
|
BKT |
2.73% |
7.13% |
(1.39)% |
5.35% |
|
BBN |
7.75% |
5.77% |
(0.43)% |
1.40% |
|
No conclusions should be drawn about BKT or BBN’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, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. 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.