Dividend Dates and Distribution Amounts Announced for Certain BlackRock Closed-End Funds NEW YORK, Dec 07, 2009 (BUSINESS WIRE) -- Certain BlackRock closed-end funds (the "Funds") announced distributions and capital gains today as detailed below.
Several of the municipal Funds announced dividend increases. These dividend increases were made in order to better align the Funds with their current earnings rates in light of each Fund's earnings potential and level of undistributed net investment income.
In addition, dividend reductions were announced by several of the taxable Funds. These dividend reductions take into account each Fund's earnings potential and the relatively low interest rates on floating rate securities held by the Funds.
Monthly Dividends
Among the Funds listed above, BlackRock Credit Allocation Income Trust IV (BTZ) (the "Trust") has a level distribution plan (the "Plan") and employs either a managed distribution 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 the Trust's Board. Under its Plan, the Trust 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 (the "Code"). If sufficient investment income is not available on a quarterly/monthly basis, the Trust will distribute long-term capital gains and or return capital to its shareholders in order to maintain a level distribution.
The Trust's estimated sources of the distributions paid as of November 30, 2009 and for its current fiscal year through November 30, 2009 are as follows:
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 the Trust's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Trust 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.
About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. With approximately $3.2 trillion under management as of September 30, 2009 (pro forma), BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares(R) (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions(R). Headquartered in New York City, the firm has over 8,500 employees in 24 countries. For additional information, please visit BlackRock'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.
With respect to each Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in the Fund's net asset value; (2) the performance of the Fund's investments; (3) the impact of increased competition; (4) the extent and timing of any distributions or share repurchases; (5) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; and (6) BlackRock's ability to attract and retain highly talented professionals.
The 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 our website is not a part of this press release.
SOURCE: BlackRock Closed-End Funds
Several of the municipal Funds announced dividend increases. These dividend increases were made in order to better align the Funds with their current earnings rates in light of each Fund's earnings potential and level of undistributed net investment income.
In addition, dividend reductions were announced by several of the taxable Funds. These dividend reductions take into account each Fund's earnings potential and the relatively low interest rates on floating rate securities held by the Funds.
Monthly Dividends
Municipal Funds:
Declaration- 12/7/2009 Ex-Date- 12/11/2009 Record- 12/15/2009 Payable- 12/31/2009
National Funds Ticker Dividend Change From
Prior
Dividend
BlackRock Apex Municipal Fund, Inc. APX $0.046500 -
BlackRock Insured Municipal Income Trust BYM $0.068500 -
BlackRock Insured Municipal Income Investment Trust BAF $0.068500 -
BlackRock Investment Quality Municipal Income Trust RFA $0.070000 -
BlackRock Long-Term Municipal Advantage Trust BTA $0.059500 $0.002000
BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.065500 -
BlackRock MuniAssets Fund, Inc.* MUA $0.067500 -
BlackRock Municipal 2020 Term Trust BKK $0.062250 -
BlackRock Municipal Bond Trust BBK $0.085000 -
BlackRock Municipal Bond Investment Trust BIE $0.073800 -
BlackRock Municipal Income Trust BFK $0.078600 -
BlackRock Municipal Income Trust II BLE $0.081000 -
BlackRock Municipal Income Investment Trust BBF $0.075375 -
BlackRock MuniEnhanced Fund, Inc. MEN $0.055500 $0.002500
BlackRock MuniHoldings Fund II, Inc. MUH $0.075500 -
BlackRock MuniHoldings Fund, Inc. MHD $0.083500 -
BlackRock MuniHoldings Insured Fund II, Inc. MUE $0.070000 -
BlackRock MuniHoldings Insured Fund, Inc. MUS $0.070000 -
BlackRock MuniHoldings Insured Investment Fund MFL $0.068000 -
BlackRock MuniVest Fund II, Inc. MVT $0.083500 -
BlackRock MuniVest Fund, Inc. MVF $0.053000 -
BlackRock MuniYield Fund, Inc. MYD $0.069000 -
BlackRock MuniYield Insured Fund, Inc. MYI $0.061000 -
BlackRock MuniYield Insured Investment Fund MFT $0.066000 -
BlackRock MuniYield Investment Fund MYF $0.065500 -
BlackRock MuniYield Quality Fund II, Inc. MQT $0.062000 -
BlackRock MuniYield Quality Fund, Inc. MQY $0.069500 -
The BlackRock Investment Quality Municipal Trust, Inc. BKN $0.081500 -
The BlackRock Strategic Municipal Trust BSD $0.070000 -
State-Specific Funds Ticker Dividend Change From
Prior
Dividend
BlackRock California Insured Municipal Income Trust BCK $0.066000 -
BlackRock California Municipal Bond Trust BZA $0.077000 -
BlackRock California Municipal Income Trust BFZ $0.075700 -
BlackRock California Municipal Income Trust II BCL $0.074500 -
BlackRock California Municipal 2018 Term Trust BJZ $0.072000 -
BlackRock MuniHoldings California Insured Fund, Inc. MUC $0.063000 -
BlackRock MuniYield California Fund, Inc. MYC $0.067500 -
BlackRock MuniYield California Insured Fund, Inc. MCA $0.061000 -
The BlackRock California Investment Quality Municipal Trust, Inc. RAA $0.053000 -
BlackRock Florida Municipal 2020 Term Trust, Inc. BFO $0.056000 -
BlackRock Maryland Municipal Bond Trust BZM $0.067900 -
BlackRock Muni New York Intermediate Duration Fund, Inc. MNE $0.055500 -
BlackRock MuniHoldings New York Insured Fund, Inc. MHN $0.068500 -
BlackRock MuniYield New York Insured Fund, Inc. MYN $0.055000 $0.002500
BlackRock New York Insured Municipal Income Trust BSE $0.065500 -
BlackRock New York Municipal Bond Trust BQH $0.078000 -
BlackRock New York Municipal Income Trust BNY $0.082500 -
BlackRock New York Municipal Income Trust II BFY $0.080000 -
The BlackRock New York Investment Quality Municipal Trust, Inc. RNY $0.068200 -
BlackRock MuniHoldings New Jersey Insured Fund, Inc. MUJ $0.069000 -
BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.070500 -
BlackRock MuniYield New Jersey Insured Fund, Inc. MJI $0.069500 -
BlackRock New Jersey Municipal Bond Trust BLJ $0.075500 -
BlackRock New Jersey Municipal Income Trust BNJ $0.077600 -
The BlackRock New Jersey Investment Quality Municipal Trust RNJ $0.064000 -
BlackRock MuniYield Arizona Fund, Inc. MZA $0.067000 -
BlackRock MuniYield Michigan Insured Fund II, Inc. MYM $0.066500 -
BlackRock MuniYield Michigan Insured Fund, Inc. MIY $0.075000 $0.002500
BlackRock MuniYield Pennsylvania Insured Fund MPA $0.065500 -
The BlackRock Pennsylvania Strategic Municipal Trust BPS $0.064000 -
BlackRock Virginia Municipal Bond Trust BHV $0.080000 -
Massachusetts Health & Education Tax-Exempt Trust MHE $0.064500 $0.002500
Taxable Funds:
Declaration- 12/7/2009 Ex-Date- 12/11/2009 Record- 12/15/2009 Payable- 12/18/2009
Fund Ticker Dividend Change From
Prior
Dividend
BlackRock Senior High Income Fund, Inc. ARK $0.025000 -
BlackRock Floating Rate Income Trust BGT $0.067500 -
BlackRock Strategic Bond Trust BHD $0.069500 -
BlackRock Core Bond Trust BHK $0.062000 -
BlackRock Defined Opportunity Credit Trust* BHL $0.054000 -$0.006000
The BlackRock High Yield Trust* BHY $0.043500 -
The BlackRock Income Trust, Inc. BKT $0.024000 -
BlackRock Limited Duration Income Trust* BLW $0.070000 -
BlackRock Income Opportunity Trust, Inc. BNA $0.051000 -
BlackRock Credit Allocation Income Trust III* BPP $0.072500 -
BlackRock Credit Allocation Income Trust IV* BTZ $0.100000 -
BlackRock Corporate High Yield Fund, Inc. COY $0.061000 -
BlackRock Corporate High Yield Fund III, Inc. CYE $0.055000 -
BlackRock Debt Strategies Fund, Inc.* DSU $0.031000 -
BlackRock Diversified Income Strategies Fund, Inc.* DVF $0.068500 -$0.010000
BlackRock Floating Rate Income Strategies Fund, Inc.* FRA $0.081500 -
BlackRock Floating Rate Income Strategies Fund II, Inc.* FRB $0.075000 -$0.006000
BlackRock High Income Shares HIS $0.013200 -
BlackRock Corporate High Yield Fund VI, Inc. HYT $0.087500 -
BlackRock Corporate High Yield Fund V, Inc. HYV $0.087500 -
BlackRock Credit Allocation Income Trust I, Inc.* PSW $0.060000 -
BlackRock Credit Allocation Income Trust II, Inc.* PSY $0.075000 -
Capital Gains
Declaration- 12/7/2009 Ex-Date- 12/11/2009 Record- 12/15/2009 Payable- 12/31/2009
Fund Ticker Ordinary Short-Term Long-Term
Income Capital Gain Capital Gain
BlackRock Apex Municipal Fund, Inc. APX $0.013525 - -
BlackRock MuniHoldings Fund, Inc. MHD $0.000294 - $0.023255
BlackRock MuniAssets Fund, Inc. MUA $0.015370 - -
BlackRock MuniYield California Fund, Inc. MYC $0.003772 - -
The BlackRock California Investment Quality Municipal Trust, Inc. RAA $0.004623 - -
BlackRock New Jersey Municipal Bond Trust BLJ $0.010066 - -
BlackRock MuniYield New Jersey Insured Fund, Inc. MJI $0.002309 $0.001236 $0.099095
BlackRock MuniHoldings New Jersey Insured Fund, Inc. MUJ - - $0.014156
BlackRock New York Municipal Bond Trust BQH $0.000689 $0.012949 $0.080206
The BlackRock New York Investment Quality Municipal Trust, Inc. RNY - $0.024871 -
BlackRock Virginia Municipal Bond Trust BHV $0.000688 $0.003104 $0.262941
Massachusetts Health & Education Tax-Exempt Trust MHE $0.035407 - -
* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended, each of the Funds noted above posted to the DTC bulletin board and sent to their shareholders as of the applicable record date a Section 19 notice with the previous dividend payment. The Section 19 notice was provided not for tax reporting purposes but for informational purposes only. This information can be found in the "Closed-End Funds" section of www.blackrock.com. If applicable, the final determination of the source and tax characteristics of all distributions in 2009 will be made after the end of the year. Among the Funds listed above, BlackRock Credit Allocation Income Trust IV (BTZ) (the "Trust") has a level distribution plan (the "Plan") and employs either a managed distribution 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 the Trust's Board. Under its Plan, the Trust 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 (the "Code"). If sufficient investment income is not available on a quarterly/monthly basis, the Trust will distribute long-term capital gains and or return capital to its shareholders in order to maintain a level distribution.
The Trust's estimated sources of the distributions paid as of November 30, 2009 and for its current fiscal year through November 30, 2009 are as follows:
Estimated Allocations as of November 30, 2009
Trust Distribution Net Investment Net Realized Net Realized Return of Capital
Income Short-Term Gains Long-Term Gains
BTZ(1) $0.100000 $0.047800 (48%) $0.00 (0%) $0.00 (0%) $0.052200 (52%)
Estimated Allocations for the fiscal year through November 30,
2009
Trust Distribution Net Investment Net Realized Net Realized Return of Capital
Income Short-Term Gains Long-Term Gains
BTZ(1) $0.100000 $0.047800 (48%) $0.00 (0%) $0.00 (0%) $0.052200 (52%)
(1 )The Trust estimates that it has distributed more than their income and 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 a Trust's investment performance and should not be confused with 'yield' or 'income'. 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 the Trust's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Trust 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.
Trust Performance and Distribution Rate Information:
Trust Average annual total return (in relation to NAV) for the inception Current fiscal period's annualized distribution rate as a percentage Cumulative total return (in relation to NAV) for the fiscal year Cumulative fiscal year distribution rate expressed as a percentage
to date ending on October 31, 2009 of NAV as of October 31, 2009 through October 31, 2009 of NAV as of October 31, 2009
BTZ (9.53)% 9.49% 41.06% 0.79%
Shareholders should not draw any conclusions about the Trust's investment performance from the amount of the Trust's current distributions or from the terms of the Trust's Plan. About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. With approximately $3.2 trillion under management as of September 30, 2009 (pro forma), BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares(R) (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions(R). Headquartered in New York City, the firm has over 8,500 employees in 24 countries. For additional information, please visit BlackRock'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.
With respect to each Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in the Fund's net asset value; (2) the performance of the Fund's investments; (3) the impact of increased competition; (4) the extent and timing of any distributions or share repurchases; (5) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; and (6) BlackRock's ability to attract and retain highly talented professionals.
The 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 our website is not a part of this press release.
SOURCE: BlackRock Closed-End Funds
BlackRock Closed-End Funds
1-800-882-0052
Copyright Business Wire 2009 
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