Dividend Dates and Distribution Amounts Announced for Certain BlackRock Closed-End Funds
02 Juni 2008 - 11:32PM
Business Wire
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
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BlackRock�s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified
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statements or historical performance: (1) the introduction,
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(10) terrorist activities and international hostilities, which may
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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.
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