Enhanced EQ Yld (NYSE:EEF)
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From Jun 2019 to Jun 2024
BlackRock Enhanced Equity Yield Fund, Inc. (the “Fund”)
(NYSE: EEF, CUSIP: 09256C105) announced the completion of the Fund’s
annual repurchase offer for its shares of common stock. The repurchase
offer and withdrawal rights expired at 5:00 p.m., Eastern Time, on June
13, 2008. The Fund offered to repurchase up to 5% of its outstanding
shares of common stock for cash at a price equal to the net asset value
as of the close of regular trading on the New York Stock Exchange (“NYSE”)
on June 27, 2008, subject to a repurchase fee of 2% of the Fund’s
net asset value per share, which will be deducted from the repurchase
price. As of Friday, June 13, 2008, 21,348,041 shares of the Fund were
outstanding. A repurchase amount of 5% of the outstanding shares of the
Fund’s common stock would represent
approximately 1,067,402 shares.
The preliminary count by The Bank of New York Mellon, the Fund's
depositary agent, indicated that approximately 393,614 shares
(approximately 1.84% of the Fund's outstanding shares) were validly
tendered and not withdrawn prior to the expiration of the Fund's
repurchase offer. This determination is subject to final confirmation
and the proper delivery of all shares tendered and not withdrawn.
The Fund is a diversified, closed-end management investment company. The
Fund’s primary investment objective is to
provide stockholders with current income and gains. The Fund’s
secondary investment objective is to provide capital appreciation
consistent with the Fund’s investment
strategies and primary investment objective.
None of the Fund, its investment adviser or its Board of Directors has
made any recommendation to any stockholder as to whether to tender or
refrain from tendering shares in the Repurchase Offer.
For client-specific information regarding the Repurchase Offer, please
contact your broker or financial advisor, or in the case of registered
stockholders, The Bank of New York Mellon, which is acting as the
depositary agent in connection with the Repurchase Offer.
About BlackRock
BlackRock is one of the world’s largest
publicly traded investment management firms. At March 31, 2008, BlackRock’s
assets under management were $1.364 trillion. The firm manages assets on
behalf of institutions and individuals worldwide through a variety of
equity, fixed income, cash management and alternative investment
products. In addition, a growing number of institutional investors use
BlackRock Solutions® investment system, risk
management and financial advisory services. Headquartered in New York
City, as of March 31, 2008, the firm has approximately 5,600 employees
in 19 countries and a major presence in key global markets, including
the U.S., Europe, Asia, Australia and the Middle East. For additional
information, please visit the Company's website at www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock may make, may
contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, with respect to 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.
The following factors, among others, could cause actual results to
differ materially from forward-looking statements or historical
performance: (1) the introduction, withdrawal, success and timing of
business initiatives and strategies; (2) changes in political, economic
or industry conditions, the interest rate environment or financial and
capital markets, which could result in changes in demand for products or
services or in the value of assets under management; (3) the relative
and absolute investment performance of BlackRock’s
investment products; (4) the impact of increased competition; (5) the
impact of future acquisitions or divestitures; (6) the unfavorable
resolution of legal proceedings; (7) the extent and timing of any share
repurchases; (8) the impact, extent and timing of technological changes
and the adequacy of intellectual property protection; (9) the impact of
legislative and regulatory actions and reforms and regulatory,
supervisory or enforcement actions of government agencies relating to
BlackRock, Merrill Lynch or PNC; (10) terrorist activities and
international hostilities, which may adversely affect the general
economy, domestic and local financial and capital markets, specific
industries, and BlackRock; (11) the ability to attract and retain highly
talented professionals; (12) fluctuations in foreign currency exchange
rates, which may adversely affect the carrying value of certain assets
and liabilities denominated in foreign currencies; (13) the impact of
changes to tax legislation; (14) BlackRock’s
ability to successfully integrate the MLIM and Quellos Businesses with
its existing business; (15) the ability of BlackRock to effectively
manage the former MLIM and Quellos assets along with its historical
assets under management; and (16) BlackRock’s
success in maintaining the distribution of its products.
The Annual and Semi-Annual Reports and other regulatory filings of the
BlackRock Closed-End Funds filed with the 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 factors in more detail and identify additional
factors that can affect the Closed-End Funds. The information contained
on BlackRock’s website is not a part of this
press release.