Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

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Jun 29, 2018 04:30 pm
NEW YORK -- 

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 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), and BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) (collectively, the “Funds”) paid the following distributions per share:

             
Trust     Pay Date     Per Share
BCX     June 29, 2018     $0.051600
BDJ     June 29, 2018     $0.046700
BGR     June 29, 2018     $0.077600
BGY     June 29, 2018     $0.038000
BME     June 29, 2018     $0.200000
BOE     June 29, 2018     $0.078000
BUI     June 29, 2018     $0.121000
CII     June 29, 2018     $0.082800
BST     June 29, 2018     $0.130000
EGF     June 29, 2018     $0.041000

Each of the Funds 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 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. 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 years are as follows:

Estimated Allocations as of June 29, 2018

                                         

Trust

     

Distribution

     

Net Investment
Income

     

Net Realized Short-
Term Gains

     

Net Realized Long-
Term Gains

     

Return of Capital

BCX       $0.051600       $0.013991 (27%)       $0 (0%)       $0 (0%)       $0.037609 (73%)
BDJ       $0.046700       $0.018036 (39%)       $0 (0%)       $0.028664 (61%)       $0 (0%)
BGR       $0.077600       $0.037592 (48%)       $0 (0%)       $0 (0%)       $0.040008 (52%)
BGY       $0.038000       $0.006607 (17%)       $0 (0%)       $0.031393 (83%)       $0 (0%)
BME       $0.200000       $0.002786 (1%)       $0 (0%)       $0.197214 (99%)       $0 (0%)
BOE       $0.078000       $0.026624 (34%)       $0 (0%)       $0 (0%)       $0.051376 (66%)
BUI       $0.121000       $0.114888 (95%)       $0.006112 (5%)       $0 (0%)       $0 (0%)
CII       $0.082800       $0.018676 (23%)       $0 (0%)       $0 (0%)       $0.064124 (77%)
BST       $0.130000       $0 (0%)       $0 (0%)       $0.130000 (100%)       $0 (0%)
EGF       $0.041000       $0.023172 (57%)       $0 (0%)       $0 (0%)       $0.017828 (43%)

Estimated Allocations for the Fiscal Year through June 29, 2018

                               
Trust     Distribution    

Net Investment
Income

   

Net Realized Short-
Term Gains

   

Net Realized Long-
Term Gains

   

Return of Capital

BCX1     $0.309600     $0.108728 (35%)     $0 (0%)     $0 (0%)     $0.200872 (65%)
BDJ     $0.280200     $0.081478 (29%)     $0.008302 (3%)     $0.19042 (68%)     $0 (0%)
BGR1     $0.465600     $0.138969 (30%)     $0 (0%)     $0 (0%)     $0.326631 (70%)
BGY     $0.228000     $0.113511 (50%)     $0 (0%)     $0.114489 (50%)     $0 (0%)
BME     $1.200000     $0.047943 (4%)     $0.009451 (1%)     $1.142606 (95%)     $0 (0%)
BOE1     $0.468000     $0.18578 (40%)     $0.097648 (21%)     $0 (0%)     $0.184572 (39%)
BUI1     $0.726000     $0.288398 (40%)     $0.047828 (7%)     $0.023475 (3%)     $0.366299 (50%)
CII1     $0.496800     $0.08205 (17%)     $0 (0%)     $0 (0%)     $0.41475 (83%)
BST     $0.780000     $0 (0%)     $0 (0%)     $0.780000 (100%)     $0 (0%)
EGF1     $0.205000     $0.127902 (62%)     $0 (0%)     $0 (0%)     $0.077098 (38%)

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 not 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
05/31/2018

   

Annualized current
distribution rate expressed
as a percentage of NAV as
of 05/31/2018

   

Cumulative total
return (in relation to
NAV) for the fiscal
year through
05/31/2018

   

Cumulative fiscal
year distributions as
a percentage of
NAV as of
05/31/2018

BCX     2.87%     5.89%     0.38%     2.45%
BDJ     9.50%     5.75%     (0.68)%     2.39%
BGR     (1.15)%     5.88%     3.63%     2.45%
BGY     2.76%     7.14%     (6.07)%     2.97%
BME     14.25%     6.50%     3.92%     2.71%
BOE     5.01%     7.81%     (6.38)%     3.25%
BUI     7.76%     7.29%     (1.88)%     3.04%
CII     11.73%     5.75%     1.06%     2.40%
BST*     21.72%     4.80%     14.29%     2.00%
EGF     1.53%     3.62%     (0.76)%     1.51%

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. *Portfolio launched within the past 5 years; this represents the average annual total return (in relation to NAV) from inception to 05/31/2018.

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 March 31, 2018, the firm managed approximately $6.317 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.

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 the Funds 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.

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

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