Market Overview

Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

Share:

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:

Fund   Pay Date   Per Share
BCX   July 31, 2018   $0.051600
BDJ   July 31, 2018   $0.046700
BGR   July 31, 2018   $0.077600
BGY   July 31, 2018   $0.038000
BME   July 31, 2018   $0.200000
BOE   July 31, 2018   $0.063000
BUI   July 31, 2018   $0.121000
CII   July 31, 2018   $0.082800
BST   July 31, 2018   $0.150000
EGF   July 31, 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 year are as follows:

Estimated Allocations as of July 31, 2018
Fund   Distribution  

Net Investment
Income

 

Net Realized Short-
Term Gains

 

Net Realized
Long-Term Gains

 

Return of Capital

BCX1   $0.051600   $0 (0%)   $0 (0%)   $0 (0%)   $0.051600 (100%)
BDJ   $0.046700   $0.023585 (51%)   $0.006041 (13%)   $0.017074 (36%)   $0 (0%)
BGR1   $0.077600   $0 (0%)   $0 (0%)   $0 (0%)   $0.077600 (100%)
BGY   $0.038000   $0.010959 (29%)   $0 (0%)   $0.027041 (71%)   $0 (0%)
BME1   $0.200000   $0.011524 (6%)   $0 (0%)   $0 (0%)   $0.188476 (94%)
BOE1   $0.063000   $0.019001 (30%)   $0.001272 (2%)   $0 (0%)   $0.042727 (68%)
BUI1   $0.121000   $0.011941 (10%)   $0.001357 (1%)   $0 (0%)   $0.107702 (89%)
CII1   $0.082800   $0.004429 (5%)   $0 (0%)   $0.068269 (82%)   $0.010102 (13%)
BST   $0.150000   $0 (0%)   $0 (0%)   $0.150000 (100%)   $0 (0%)
EGF1   $0.041000   $0.022761 (56%)   $0 (0%)   $0 (0%)   $0.018239 (44%)
         
Estimated Allocations for the Fiscal Year through July 31, 2018
Fund   Distribution  

Net Investment
Income

 

Net Realized Short-
Term Gains

 

Net Realized
Long-Term Gains

  Return of Capital
BCX1   $0.361200   $0.106907 (30%)   $0 (0%)   $0 (0%)   $0.254293 (70%)
BDJ   $0.326900   $0.105064 (32%)   $0.014343 (4%)   $0.207493 (64%)   $0 (0%)
BGR1   $0.543200   $0.129495 (24%)   $0 (0%)   $0 (0%)   $0.413705 (76%)
BGY   $0.266000   $0.124471 (47%)   $0 (0%)   $0.141529 (53%)   $0 (0%)
BME1   $1.400000   $0.059036 (4%)   $0 (0%)   $1.118347 (80%)   $0.222617 (16%)
BOE1   $0.531000   $0.204781 (39%)   $0.078691 (15%)   $0 (0%)   $0.247528 (46%)
BUI1   $0.847000   $0.300337 (35%)   $0.049186 (6%)   $0.023475 (3%)   $0.474002 (56%)
CII1   $0.579600   $0.086479 (15%)   $0 (0%)   $0.068269 (12%)   $0.424852 (73%)
BST   $0.930000   $0 (0%)   $0 (0%)   $0.930000 (100%)   $0 (0%)
EGF1   $0.246000   $0.150663 (61%)   $0 (0%)   $0 (0%)   $0.095337 (39%)

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:
Fund  

Average annual
total return (in
relation to NAV) for
the
5-year period
ending on
6/30/2018

 

Annualized current
distribution rate expressed
as a
percentage of NAV
as of 6/30/2018

 

Cumulative total
return (in relation
to NAV) for the
fiscal
year through
6/30/2018

 

Cumulative fiscal
year distributions as
a percentage of
NAV
as of
6/30/2018

BCX   3.80%   6.10%   0.07%   3.05%
BDJ   9.71%   5.72%   (0.38)%   2.86%
BGR   (0.69)%   5.81%   4.43%   2.91%
BGY   3.19%   7.09%   (6.49)%   3.55%
BME   14.99%   6.34%   5.88%   3.17%
BOE   5.49%   6.27%   (6.19)%   3.88%
BUI   8.41%   7.13%   (0.56)%   3.57%
CII   12.17%   5.70%   1.76%   2.85%
BST*   21.54%   5.62%   15.50%   2.43%
EGF   1.81%   3.60%   (0.45)%   1.80%

* Portfolio launched within the past 5 years; the performance and
distribution rate information presented for this Fund reflects data from
inception to 6/30/2018.

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.

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 June 30, 2018,
the firm managed approximately $6.3 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.

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds
on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com
as well as certain other material information as necessary from time to
time. Investors and others are advised to check the website for updated
performance information and the release of other material information
about the Funds. This reference to BlackRock's website is intended to
allow investors public access to information regarding the Funds and
does not, and is not intended to, incorporate BlackRock's website in
this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to a Fund's 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 a Fund 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.

View Comments and Join the Discussion!