BlackRock Closed-End Funds Announce Distributions to Align with Earnings

BlackRock closed-end funds have announced their distributions for the current period, with some funds increasing their monthly distribution rates while others decreasing them. The changes were made to align the distribution rates with the funds’ current and projected earnings levels.

BlackRock Limited Duration Income Trust (BLW) has announced an increase in its monthly distribution rate, while BlackRock Municipal 2030 Target Term Trust (BTT) has announced a decrease in its monthly distribution rate. These adjustments aim to better align the funds’ distribution rates with their earnings.

Additionally, BlackRock Science and Technology Term Trust (BSTZ), BlackRock Health Sciences Term Trust (BMEZ), and BlackRock Innovation and Growth Term Trust (BIGZ) will now pay monthly distributions to shareholders at an annual rate of 6% of the fund’s 12-month rolling average daily net asset value. The October 2023 distribution was calculated based on the average net asset value from September 23, 2022, to September 22, 2023.

BlackRock 2037 Municipal Target Term Trust (BMN) has declared a special distribution to meet its December 31, 2022 distribution requirement. BlackRock Enhanced Equity Dividend Trust (BDJ) has declared its November and December distributions early to fulfill the fund’s remaining distribution requirements for December 31, 2022.

The distributions for the various BlackRock municipal, taxable fixed income, equity, and multi-asset funds have been detailed in the press release. Each fund aims to distribute all available investment income to shareholders, consistent with its investment objectives and tax requirements.

Investors are encouraged to review the fund’s Section 19 notice for information regarding the source and tax characteristics of the distributions. The final determination of the distributions’ source and tax characteristics for 2023 will be made after the end of the year.

These distribution changes reflect BlackRock’s commitment to providing consistent and competitive returns to its shareholders while aligning with the funds’ earnings and investment objectives.