Market Overview

Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

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Certain BlackRock closed-end funds (the "Funds") announced distributions
today as detailed below. Certain municipal Funds announced a decrease in
their monthly distribution rates. Generally, these distribution changes
were made in order to better align the applicable Funds' distribution
rates with their current and projected level of earnings. In addition,
certain municipal Funds declared special distributions.

Municipal Funds:

           
 
Declaration- 12/3/2018 Ex-Date- 12/12/2018 Record- 12/13/2018 Payable- 12/31/2018
 

National Funds

 

Ticker

 

Distribution

 

Change From
Prior
Distribution

 

BlackRock Municipal Income Quality Trust BYM $0.052000 -
BlackRock Municipal Income Investment Quality Trust BAF $0.058500 -
BlackRock Long-Term Municipal Advantage Trust BTA $0.050500 (0.004000)
BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.044500 -
BlackRock Municipal Income Investment Trust* BBF $0.058000 (0.002500)
BlackRock MuniAssets Fund, Inc. MUA $0.054500 -
BlackRock Municipal Bond Trust BBK $0.063500 -
BlackRock Municipal Income Trust BFK $0.058500 -
BlackRock Municipal Income Trust II BLE $0.058000 -
BlackRock Investment Quality Municipal Trust, Inc. BKN $0.057000 -
BlackRock Municipal 2030 Target Term Trust BTT $0.062400 -
The BlackRock Strategic Municipal Trust BSD $0.057000 -
BlackRock MuniEnhanced Fund, Inc. MEN $0.048000 -
BlackRock MuniHoldings Investment Quality Fund MFL $0.056500 -
BlackRock MuniYield Investment Quality Fund MFT $0.059000 -
BlackRock MuniHoldings Fund, Inc. MHD $0.067500 (0.002500)
BlackRock MuniYield Quality Fund II, Inc. MQT $0.048000 -
BlackRock MuniYield Quality Fund, Inc. MQY $0.056000 -
BlackRock MuniHoldings Quality Fund II, Inc.* MUE $0.049000 (0.005000)
BlackRock MuniHoldings Fund II, Inc. MUH $0.061500 -
BlackRock MuniHoldings Quality Fund, Inc. MUS $0.050500 -
BlackRock MuniVest Fund II, Inc. MVT $0.063500 -
BlackRock MuniYield Fund, Inc. MYD $0.059000 (0.002000)
BlackRock MuniYield Investment Fund MYF $0.062000 (0.007500)
BlackRock MuniYield Quality Fund III, Inc. MYI $0.050500 -
BlackRock MuniVest Fund, Inc. MVF $0.038500 (0.002500)
BlackRock Municipal 2020 Term Trust BKK $0.031800 -
 

 

State-Specific Funds

Ticker

Distribution

Change From
Prior
Distribution

 

 

BlackRock MuniHoldings California Quality Fund, Inc.

 

 

MUC

 

 

$0.047500

 

 

-

BlackRock California Municipal Income Trust* BFZ $0.044500 (0.002500)
BlackRock MuniYield California Fund, Inc. MYC $0.052000 -
BlackRock MuniYield California Quality Fund, Inc. MCA $0.052000 -
BlackRock Florida Municipal 2020 Term Trust BFO $0.026000 -
BlackRock Maryland Municipal Bond Trust BZM $0.047400 -
BlackRock MuniYield Michigan Quality Fund, Inc. MIY $0.052000 -
BlackRock Muni New York Intermediate Duration Fund, Inc. MNE $0.040000 -
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.044500 -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.042500 -
BlackRock New York Municipal Income Quality Trust BSE $0.040500 -
BlackRock New York Municipal Bond Trust BQH $0.046000 -
BlackRock New York Municipal Income Trust BNY $0.044500 -
BlackRock New York Municipal Income Trust II BFY $0.049000 -
BlackRock MuniHoldings New Jersey Quality Fund, Inc. MUJ $0.052500 -
BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.060500 -
BlackRock MuniYield Pennsylvania Quality Fund* MPA $0.053000 (0.002500)
BlackRock MuniYield Arizona Fund, Inc. MZA $0.047000 (0.005000)
BlackRock Virginia Municipal Bond Trust BHV $0.053500 (0.009500)
BlackRock Massachusetts Tax-Exempt Trust MHE $0.044000 -
 

Taxable Municipal Fund:

           
Declaration- 12/3/2018 Ex-Date- 12/12/2018 Record-12/13/2018 Payable- 12/19/2018
 

Fund

 

Ticker

 

Distribution

 

Change From
Prior
Distribution

BlackRock Taxable Municipal Bond Trust BBN $0.118800 -
 

Taxable Funds:

           
 
Declaration- 12/3/2018 Ex-Date- 12/12/2018 Record-12/13/2018 Payable- 12/19/2018
 

Fund

 

Ticker

 

Distribution

 

Change From
Prior
Distribution

BlackRock Floating Rate Income Trust BGT $0.061800 -
BlackRock Core Bond Trust BHK $0.065000 -
BlackRock Multi-Sector Income Trust BIT $0.116700 -
BlackRock Income Trust, Inc.* BKT $0.034400 -
BlackRock Limited Duration Income Trust BLW $0.079500 -
BlackRock Credit Allocation Income Trust BTZ $0.067000 -
BlackRock Debt Strategies Fund, Inc.* DSU $0.068500 -
BlackRock Enhanced Government Fund, Inc.* EGF $0.041000 -
BlackRock Floating Rate Income Strategies Fund, Inc. FRA $0.064500 -
BlackRock Corporate High Yield Fund, Inc. HYT $0.072000 -
BlackRock 2022 Global Income Opportunity Trust BGIO $0.050000 -
 

Special Distributions

           

 

Declaration- 12/3/2018 Ex-Date- 12/12/2018 Record- 12/13/2018 Payable- 12/31/2018
 
Fund   Ticker  

Taxable Net
Investment
Income

 

Short-Term
Capital Gain

 

Long-Term
Capital Gain

BlackRock California Municipal Income Trust BFZ $0.004096 $0.000624 $0.162818
BlackRock Investment Quality Municipal Trust, Inc. BKN $0.000246 - $0.003090
BlackRock Long-Term Municipal Advantage Trust BTA $0.000905 - -
BlackRock Maryland Municipal Bond Trust BZM $0.000103 $0.017156 $0.050161
BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.000421 - $0.033545

BlackRock Muni New York Intermediate Duration Fund, Inc.

MNE $0.000154 $0.002977 $0.058738
BlackRock MuniAssets Fund, Inc. MUA $0.004380 - -
BlackRock Municipal Bond Trust BBK $0.000153 - $0.047174
BlackRock Municipal Income Quality Trust BYM $0.012637 - -
BlackRock MuniEnhanced Fund, Inc. MEN $0.000160 - $0.004955
BlackRock MuniHoldings California Quality Fund MUC $0.000039 - $0.009088
BlackRock MuniHoldings Fund II, Inc. MUH $0.001253 $0.018947 $0.033816
BlackRock MuniHoldings Fund, Inc. MHD $0.000669 $0.016620 $0.035907
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.000327 - -
BlackRock MuniVest Fund II, Inc. MVT $0.001559 $0.004690 $0.050768
BlackRock MuniVest Fund, Inc. MVF $0.000260 - -
BlackRock MuniYield California Fund, Inc. MYC $0.002863 - $0.148546
BlackRock MuniYield California Quality Fund, Inc. MCA $0.000160 - $0.041417
BlackRock MuniYield Fund, Inc. MYD $0.000879 - -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.000430 - -
BlackRock MuniYield Quality Fund II, Inc. MQT $0.003867 - -
BlackRock MuniYield Quality Fund III, Inc. MYI $0.000178 - -
BlackRock MuniYield Quality Fund, Inc. MQY $0.004133 - $0.018105
BlackRock New York Municipal Bond Trust BQH $0.002053 - -
BlackRock New York Municipal Income Trust BNY $0.000828 - -
BlackRock New York Municipal Income Trust II BFY $0.001037 - -
The BlackRock Strategic Municipal Trust BSD $0.001023 - -
 

* In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended (the "1940 Act"), each of the
Funds noted above posted to the DTC bulletin board and sent to its
shareholders of record as of the applicable record date a Section 19
notice with the previous distribution payment. The Section 19 notice was
provided for informational purposes only and not for tax reporting
purposes. This information can be found in the "Closed-End Funds"
section of www.blackrock.com.
As applicable, the final determination of the source and tax
characteristics of all distributions in 2018 will be made after the end
of the year.

BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) has adopted a
managed distribution plan (a "Plan") and employs an option over-write
policy to support a level distribution of income, capital gains and/or
return of capital. The fixed amount distributed per share is subject
to change at the discretion of EGF's Board.
Under the Plan, EGF will
distribute all available investment income to its shareholders,
consistent with its investment objective and as required by the Internal
Revenue Code of 1986, as amended the ("Code"). If sufficient investment
income is not available on a monthly basis, EGF will distribute
long-term capital gains and/or return capital to its shareholders in
order to maintain a level distribution.

EGF's estimated sources of the distributions paid as of November 30,
2018 and for its current fiscal year are as follows:

Estimated Allocations as of November 30, 2018
Fund   Distribution  

Net Investment
Income

 

Net Realized
Short-Term Gains

 

Net Realized
Long-Term Gains

  Return of Capital
EGF1   $0.041000   $0.027528 (67%)   $0 (0%)   $0 (0%)   $0.013472 (33%)
         
Estimated Allocations for the Fiscal Year through November 30,
2018
Fund   Distribution  

Net Investment
Income

 

Net Realized
Short-Term Gains

 

Net Realized
Long-Term Gains

  Return of Capital
EGF1   $0.410000   $0.252189 (62%)   $0 (0%)   $0 (0%)   $0.157811 (38%)
         

1 EGF estimates that it has distributed more than its income
and net realized capital gains in the current fiscal year; therefore, a
portion of the distribution may be a return of capital. A return of
capital may occur, for example, when some or all of a shareholder's
investment is paid back to the shareholder. A return of capital
distribution does not necessarily reflect EGF's investment performance
and should not be confused with ‘yield' or ‘income'. When distributions
exceed total return performance, the difference will reduce EGF's net
asset value per share.

The amounts and sources of distributions reported are only estimates
and are being provided to you pursuant to regulatory requirements and
are not provided for tax reporting purposes. The actual amounts and
sources of the amounts for tax reporting purposes will depend upon EGF's
investment experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. EGF will send its
shareholders a Form 1099-DIV for the calendar year that will illustrate
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 10/31/2018
  Annualized current distribution rate expressed as a percentage of
NAV as of 10/31/2018
  Cumulative total return (in relation to NAV) for the fiscal year
through 10/31/2018
  Cumulative fiscal year distributions as a percentage of NAV as of
10/31/2018
EGF   1.50%   3.66%   (0.89)%   3.05%
       

No conclusions should be drawn about EGF's investment performance
from the amount of the Fund's distributions or from the terms of the
Plan.

BlackRock Income Trust, Inc. (NYSE:BKT) has adopted a Plan whereby
beginning August 2018 the Fund will make fixed monthly distributions to
common stockholders and will distribute all available investment income
to its stockholders, consistent with its investment objective and as
required by the Code. The fixed amount distributed per share is
subject to change at the discretion of BKT's Board.
If sufficient
investment income is not available on a monthly basis, the Fund will
distribute long-term capital gains and/or return capital to its
stockholders in order to maintain a level distribution. The Fund is
currently not relying on any exemptive relief from Section 19(b) of the
1940 Act. The Fund expects that distributions under the Plan will exceed
current income and capital gains and therefore will likely include a
return of capital. BKT may make additional distributions from time to
time, including additional capital gain distributions at the end of the
taxable year, if required to meet requirements imposed by the Code
and/or the 1940 Act.

BKT's estimated sources of the distributions paid as of November 30,
2018 and for its current fiscal year is as follows:

Estimated Allocations as of November 30, 2018
Fund   Distribution  

Net Investment
Income

 

Net Realized
Short-Term Gains

 

Net Realized
Long-Term Gains

  Return of Capital
BKT2   $0.034400   $0.021972 (64%)   $0 (0%)   $0 (0%)   $0.012428 (36%)
         
Estimated Allocations for the Fiscal Year through November 30,
2018
Fund   Distribution  

Net Investment
Income

 

Net Realized
Short-Term Gains

 

Net Realized
Long-Term Gains

  Return of Capital
BKT2   $0.103200   $0.069357 (67%)   $0 (0%)   $0 (0%)   $0.033843 (33%)
         

2 BKT estimates that it has distributed more than its income
and net realized capital gains in the current fiscal year; therefore, a
portion of the distribution may be a return of capital. A return of
capital may occur, for example, when some or all of a stockholder's
investment is paid back to the stockholder. A return of capital
distribution does not necessarily reflect BKT's investment performance
and should not be confused with ‘yield' or ‘income'. When distributions
exceed total return performance, the difference will reduce BKT's net
asset value per share.

The amounts and sources of distributions reported are only estimates
and are being provided to you pursuant to regulatory requirements and
are not being provided for tax reporting purposes. The actual amounts
and sources of the amounts for tax reporting purposes will depend upon
BKT's investment experience during the remainder of its fiscal year and
may be subject to changes based on tax regulations. BKT will send its
stockholders a Form 1099-DIV for the calendar year that will illustrate
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 10/31/2018
  Annualized current distribution rate expressed as a percentage of
NAV as of 10/31/2018
  Cumulative total return (in relation to NAV) for the fiscal year
through 10/31/2018
  Cumulative fiscal year distributions as a percentage of NAV as of
10/31/2018
BKT   2.12%   6.71%   (1.19)%  

1.68%

       

No conclusions should be drawn about the BKT's investment performance
from the amount of the Fund's distributions or from the terms of the
Fund's Plan.

The amount distributed per share under a Plan is subject to change at
the discretion of the applicable Fund's Board.
Each Plan will be
subject to ongoing review by the Board to determine whether the Plan
should be continued, modified or terminated. The Board may amend the
terms of a Plan or suspend or terminate a Plan at any time without prior
notice to the Fund's shareholders if it deems such actions to be in the
best interest of the Fund or its shareholders. The amendment or
termination of a Plan could have an adverse effect on the market price
of the Fund's shares.

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 September 30,
2018, the firm managed approximately $6.44 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.

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