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Certain BlackRock closed-end funds announced distributions today as
detailed below.
Several of the municipal closed-end funds announced dividend reductions,
which take into account the funds’ earning
potential and level of undistributed net investment income. For several
of the funds with dividend reductions, large undistributed net
investment income balances have allowed the funds to pay out
distributions greater than their earnings. These dividend reductions
were made in order to better align the funds with their current earnings
rates.
BlackRock Insured Municipal 2008 Term Trust, Inc. (NYSE:BRM), BlackRock
California Insured Municipal 2008 Term Trust, Inc. (NYSE:BFC), BlackRock
Florida Insured Municipal 2008 Term Trust (NYSE:BRF), and BlackRock New
York Insured Municipal 2008 Term Trust, Inc. (NYSE:BLN) are among the
municipal closed-end funds reducing dividends. BRM, BFC, BRF and BLN are
term trusts maturing in December 2008. These dividend reductions reflect
the funds’ projected earnings potential as
well as the funds’ primary objective of
returning initial offering price to investors at maturity.
In terms of taxable funds, BlackRock Senior High Income Fund, Inc.
(NYSE:ARK), BlackRock Global Floating Rate Income Trust (NYSE:BGT),
BlackRock Limited Duration Income Trust (NYSE:BLW), and BlackRock
Diversified Income Strategies Fund, Inc. (NYSE:DVF) announced dividend
reductions. These dividend reductions take into account the funds’
earnings potential and the effect of decreasing interest rates on
floating rate securities held by the funds.
BlackRock Preferred and Equity Advantage Trust (NYSE:BTZ) also announced
a dividend reduction. This reduction takes into account the Trust’s
earnings potential and the current market environment for preferreds and
equities. Given these factors and the portfolio management team’s
views, the portfolio is reallocating a portion of its assets away from
equities and into preferreds in an attempt to better meet the Trust’s
investment objective of seeking current income, current gains and
capital appreciation.
Details are as follows:
Municipal Funds:
Declaration- 6/2/2008
Ex-Date- 6/12/2008
Record- 6/16/2008
Payable- 7/1/2008
National Funds
Ticker
Dividend
Change From
Prior Month
BlackRock Apex Municipal Fund, Inc.
APX
$0.046500
-
BlackRock Insured Municipal 2008 Term Trust, Inc.
BRM
$0.025500
-$0.022000
BlackRock Insured Municipal Income Trust
BYM
$0.061000
-
BlackRock Insured Municipal Term Trust, Inc.
BMT
$0.030417
-
BlackRock Long-Term Municipal Advantage Trust
BTA
$0.055000
-
BlackRock Muni Intermediate Duration Fund, Inc.
MUI
$0.058000
-$0.003000
BlackRock MuniAssets Fund, Inc.
MUA
$0.067500
-
BlackRock Municipal 2018 Term Trust
BPK
$0.075500
-
BlackRock Municipal 2020 Term Trust
BKK
$0.062250
-
BlackRock Municipal Bond Trust
BBK
$0.072500
-$0.004000
BlackRock Municipal Income Trust
BFK
$0.068600
-$0.008900
BlackRock Municipal Income Trust II
BLE
$0.066000
-$0.005000
BlackRock MuniEnhanced Fund, Inc.
MEN
$0.043000
-
BlackRock MuniHoldings Fund II, Inc.
MUH
$0.063000
-
BlackRock MuniHoldings Fund, Inc.
MHD
$0.071000
-
BlackRock MuniHoldings Insured Fund II, Inc.
MUE
$0.050000
-
BlackRock MuniHoldings Insured Fund, Inc.
MUS
$0.048500
-
BlackRock MuniVest Fund II, Inc.
MVT
$0.071000
-
BlackRock MuniVest Fund, Inc.
MVF
$0.043000
-
BlackRock MuniYield Fund, Inc.
MYD
$0.064000
-$0.004000
BlackRock MuniYield Insured Fund, Inc.
MYI
$0.056000
-
BlackRock MuniYield Quality Fund II, Inc.
MQT
$0.050000
-
BlackRock MuniYield Quality Fund, Inc.
MQY
$0.057000
-
The BlackRock Investment Quality Municipal Trust, Inc.
BKN
$0.063000
-$0.017000
The BlackRock Strategic Municipal Trust
BSD
$0.062500
-$0.012500
State-Specific Funds
Ticker
Dividend
Change From
Prior Month
BlackRock California Insured Municipal 2008 Term Trust, Inc.
BFC
$0.027500
-$0.025000
BlackRock California Insured Municipal Income Trust
BCK
$0.056000
-$0.002000
BlackRock California Municipal 2018 Term Trust
BJZ
$0.061250
-
BlackRock California Municipal Bond Trust
BZA
$0.062000
-$0.015000
BlackRock California Municipal Income Trust
BFZ
$0.068200
-$0.007874
BlackRock California Municipal Income Trust II
BCL
$0.057000
-$0.008500
BlackRock MuniHoldings California Insured Fund, Inc.
MUC
$0.053000
-$0.002500
BlackRock MuniYield California Fund, Inc.
MYC
$0.055000
-
BlackRock MuniYield California Insured Fund, Inc.
MCA
$0.053500
-$0.002500
The BlackRock California Investment Quality Municipal Trust, Inc.
RAA
$0.046500
-$0.001500
BlackRock Florida Insured Municipal 2008 Term Trust
BRF
$0.005000
-$0.015000
BlackRock Florida Insured Municipal Income Trust
BAF
$0.058000
-
BlackRock Florida Municipal 2020 Term Trust, Inc.
BFO
$0.051000
-
BlackRock Florida Municipal Bond Trust
BIE
$0.068800
-$0.009008
BlackRock Florida Municipal Income Trust
BBF
$0.072875
-
BlackRock MuniHoldings Florida Insured Fund
MFL
$0.055500
-
BlackRock MuniYield Florida Fund
MYF
$0.058000
-
BlackRock MuniYield Florida Insured Fund
MFT
$0.053500
-
The BlackRock Florida Investment Quality Municipal Trust
RFA
$0.044500
-
BlackRock Maryland Municipal Bond Trust
BZM
$0.065400
-$0.005950
BlackRock Muni New York Intermediate Duration Fund, Inc.
MNE
$0.053000
-
BlackRock MuniHoldings New York Insured Fund, Inc.
MHN
$0.053000
-$0.001500
BlackRock MuniYield New York Insured Fund, Inc.
MYN
$0.052500
-$0.001500
BlackRock New York Insured Municipal 2008 Term Trust, Inc.
BLN
$0.027500
-$0.017500
BlackRock New York Insured Municipal Income Trust
BSE
$0.058000
-
BlackRock New York Municipal 2018 Term Trust, Inc.
BLH
$0.068750
-
BlackRock New York Municipal Bond Trust
BQH
$0.068000
-$0.009099
BlackRock New York Municipal Income Trust
BNY
$0.075339
-
BlackRock New York Municipal Income Trust II
BFY
$0.062500
-
The BlackRock New York Investment Quality Municipal Trust, Inc.
RNY
$0.058200
-$0.008800
BlackRock MuniHoldings New Jersey Insured Fund, Inc.
MUJ
$0.053000
-
BlackRock MuniYield New Jersey Fund, Inc.
MYJ
$0.058000
-
BlackRock MuniYield New Jersey Insured Fund, Inc.
MJI
$0.054000
-
BlackRock New Jersey Municipal Bond Trust
BLJ
$0.070500
-$0.008082
BlackRock New Jersey Municipal Income Trust
BNJ
$0.077600
-$0.002025
The BlackRock New Jersey Investment Quality Municipal Trust
RNJ
$0.051400
-$0.016600
BlackRock MuniYield Arizona Fund, Inc.
MZA
$0.057000
-
BlackRock MuniYield Michigan Insured Fund II, Inc.
MYM
$0.054000
-$0.002000
BlackRock MuniYield Michigan Insured Fund, Inc.
MIY
$0.054000
-$0.005000
BlackRock MuniYield Pennsylvania Insured Fund
MPA
$0.053000
-$0.003000
The BlackRock Pennsylvania Strategic Municipal Trust
BPS
$0.045000
-$0.015000
BlackRock Virginia Municipal Bond Trust
BHV
$0.072428
-
Massachusetts Health & Education Tax-Exempt Trust
MHE
$0.049000
-
Taxable Funds:
Declaration- 6/2/2008
Ex-Date- 6/12/2008
Record- 6/16/2008
Payable- 6/30/2008
Fund
Ticker
Dividend
Change From
Prior Month
BlackRock Senior High Income Fund, Inc.*
ARK
$0.040000
-$0.007000
The BlackRock Broad Investment Grade 2009 Term Trust, Inc.
BCT
$0.049000
-
BlackRock Global Floating Rate Income Trust
BGT
$0.105000
-$0.020000
BlackRock Strategic Bond Trust
BHD
$0.077000
-
BlackRock Core Bond Trust
BHK
$0.062000
-
BlackRock Defined Opportunity Credit Trust*
BHL
$0.112500
-
The BlackRock High Yield Trust
BHY
$0.051000
-
The BlackRock Income Trust, Inc.
BKT
$0.024000
-
BlackRock Limited Duration Income Trust*
BLW
$0.105000
-$0.020000
BlackRock Income Opportunity Trust, Inc.
BNA
$0.051000
-
BlackRock Preferred Opportunity Trust*
BPP
$0.125000
-
BlackRock Preferred and Equity Advantage Trust*
BTZ
$0.130000
-$0.026250
BlackRock Corporate High Yield Fund, Inc.
COY
$0.061000
-
BlackRock Corporate High Yield Fund III, Inc.
CYE
$0.060000
-
BlackRock Debt Strategies Fund, Inc.
DSU
$0.053000
-
BlackRock Diversified Income Strategies Fund, Inc.
DVF
$0.135000
-$0.015000
BlackRock Enhanced Government Fund, Inc.
EGF
$0.105000
-
BlackRock Floating Rate Income Strategies Fund, Inc.
FRA
$0.124835
-
BlackRock Floating Rate Income Strategies Fund II, Inc.
FRB
$0.123350
-
BlackRock High Income Shares
HIS
$0.018200
-
BlackRock Corporate High Yield Fund VI, Inc.
HYT
$0.100000
-
BlackRock Corporate High Yield Fund V, Inc.
HYV
$0.100000
-
BlackRock Preferred and Corporate Income Strategies Fund, Inc.
PSW
$0.103300
-
BlackRock Preferred Income Strategies Fund, Inc.*
PSY
$0.114583
-
Equity Funds:
Declaration- 6/2/2008
Ex-Date- 6/12/2008
Record- 6/16/2008
Payable- 6/30/2008
Fund
Ticker
Dividend
Change
From Prior
Dividend
BlackRock Real Asset Equity Trust*
BCF
$0.090600
-
BlackRock Enhanced Dividend AchieversTM
Trust*
BDJ
$0.101875
-
BlackRock Strategic Dividend AchieversTM Trust*
BDT
$0.225000
-
BlackRock Dividend AchieversTM Trust*
BDV
$0.225000
-
BlackRock Global Energy and Resources Trust*
BGR
$0.375000
-
BlackRock International Growth and Income Trust*
BGY
$0.151700
-
BlackRock Health Sciences Trust*
BME
$0.384375
-
BlackRock EcoSolutions Investment Trust*
BQR
$0.400000
-
BlackRock World Investment Trust*
BWC
$0.113750
-
BlackRock Enhanced Capital and Income Fund, Inc.*
CII
$0.485000
-
BlackRock Enhanced Equity Yield & Premium Fund, Inc.*
ECV
$1.025000
-
BlackRock Enhanced Equity Yield Fund, Inc.*
EEF
$0.500000
-
Capital Gains:
Declaration- 6/2/2008
Ex-Date- 6/12/2008
Record- 6/16/2008
Payable- 7/1/2008
Fund
Ticker
Long-Term Capital Gain
BlackRock Insured Municipal Term Trust, Inc.
BMT
$0.000188
*In order to comply with the
requirements of Section 19 of the Investment Company Act of 1940, as
amended, the funds noted posted a Section 19 notice to the DTC bulletin
board and sent out to their registered shareholders a Section 19 notice
with the previous dividend payment. This notice was not for tax
reporting purposes and was provided only for informational purposes.
This information can be found in the “Closed-End
Funds” section of www.blackrock.com.
About BlackRock
BlackRock is one of the world’s largest
publicly traded investment management firms. At March 31, 2008, BlackRock’s
AUM was $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,”
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“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 events 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 protections; (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; (11) the
ability to attract and retain highly talented professionals; (12) the
impact of changes to tax legislation; (13) BlackRock’s
ability to successfully integrate the MLIM and Quellos businesses with
its existing business; (14) the ability of BlackRock to effectively
manage the former MLIM and Quellos assets along with its historical
assets under management; and (15) BlackRock may elect to provide support
to its products from time to time.
The Annual and Semi-Annual Reports and other regulatory filings of the
BlackRock Closed-End Funds 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 or other factors that affect the Closed-End Funds.
The information contained on our website is not a part of this press
release.