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Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
Tuesday, June 30, 2009 7:03 PM


Today, BlackRock Enhanced Dividend AchieversTM Trust (NYSE: BDJ), BlackRock World Investment Trust (NYSE: BWC), BlackRock Real Asset Equity Trust (NYSE: BCF), BlackRock International Growth and Income Trust (NYSE: BGY), BlackRock Dividend AchieversTM Trust (NYSE: BDV), BlackRock Strategic Dividend AchieversTM Trust (NYSE: BDT), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Health Sciences Trust (NYSE: BME), BlackRock EcoSolutions Investment Trust (NYSE: BQR), BlackRock Preferred & Equity Advantage Trust (NYSE: BTZ), BlackRock Enhanced Government Fund, Inc. (NYSE: EGF), and BlackRock Enhanced Capital and Income Fund, Inc. (NYSE: CII) (collectively, the “Trusts”) paid the following dividends per share:

         
Ticker   Pay Date   Per Share
BDJ   June 30, 2009   $ 0.305625
BWC   June 30, 2009   $ 0.341250
BCF   June 30, 2009   $ 0.271800
BGY   June 30, 2009   $ 0.455100
BDV   June 30, 2009   $ 0.162500
BDT   June 30, 2009   $ 0.162500
BGR   June 30, 2009   $ 0.405000
BME   June 30, 2009   $ 0.384375
BQR   June 30, 2009   $ 0.400000
BTZ   June 30, 2009   $ 0.100000
EGF   June 30, 2009   $ 0.105000
CII   June 30, 2009   $ 0.485000
   

Each of the Trusts has adopted 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 each Trust’s Board. Under its Plan, each 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 Trusts will distribute long-term capital gains and or return of capital to their shareholders in order to maintain a level distribution.

The Trusts’ estimated sources of the distributions paid this month and for their current fiscal years are as follows:

 

Estimated Allocations of Distributions Paid June 30, 2009:

                         
Trust   Distribution  

Net Investment

Income

 

Net Realized

Short-Term Gains

 

Net Realized

Long-Term Gains

  Return of Capital
BDJ1   $ 0.305625   $0.051365 (17%)   $0.00 (0%)   $0.00 (0%)   $0.254260 (83%)
BWC1   $ 0.341250   $0.091780 (27%)   $0.00 (0%)   $0.00 (0%)   $0.249470 (73%)
BCF1   $ 0.271800   $0.013300 (5%)   $0.00 (0%)   $0.00 (0%)   $0.258500 (95%)
BGY1   $ 0.455100   $0.147800 (32%)   $0.00 (0%)   $0.00 (0%)   $0.307300 (68%)
BDV1   $ 0.162500   $0.063600 (39%)   $0.00 (0%)   $0.00 (0%)   $0.098900 (61%)
BDT1   $ 0.162500   $0.080000 (49%)   $0.00 (0%)   $0.00 (0%)   $0.082500 (51%)
BGR1   $ 0.405000   $0.034000 (8%)   $0.121000 (30%)   $0.00 (0%)   $0.250000 (62%)
BME1   $ 0.384375   $0.041755 (11%)   $0.00 (0%)   $0.00 (0%)   $0.342620 (89%)
BQR1   $ 0.400000   $0.040000 (11%)   $0.00 (0%)   $0.00 (0%)   $0.360000 (89%)
BTZ1   $ 0.100000   $0.083600 (84%)   $0.00 (0%)   $0.00 (0%)   $0.016400 (16%)
EGF   $ 0.105000   $0.105000 (100%)   $0.00 (0%)   $0.00 (0%)   $0.000000 (0%)
CII1   $ 0.485000   $0.036000 (7%)   $0.00 (0%)   $0.00 (0%)   $0.449000 (93%)
         
 

Estimated Allocations for the Fiscal Year Through June 30, 2009:

                         
Trust   Distribution  

Net Investment

Income

 

Net Realized

Short-Term Gains

 

Net Realized

Long-Term Gains

  Return of Capital
BDJ1   $ 0.916875   $0.191234 (21%)   $0.00 (0%)   $0.00 (0%)   $0.725641 (79%)
BWC1   $ 1.023750   $0.184040 (18%)   $0.00 (0%)   $0.00 (0%)   $0.839710 (82%)
BCF1   $ 0.815400   $0.074400 (9%)   $0.00 (0%)   $0.00 (0%)   $0.741000 (91%)
BGY1   $ 1.365300   $0.232200 (17%)   $0.00 (0%)   $0.00 (0%)   $1.133100 (83%)
BDV1   $ 0.487500   $0.224600 (46%)   $0.00 (0%)   $0.00 (0%)   $0.262900 (54%)
BDT1   $ 0.487500   $0.239900 (49%)   $0.00 (0%)   $0.00 (0%)   $0.247600 (51%)
BGR1   $ 1.215000   $0.226000 (19%)   $0.400000 (33%)   $0.00 (0%)   $0.589000 (48%)
BME1   $ 1.324369   $0.063400 (5%)   $0.538862 (41%)   $0.00 (0%)   $0.722107 (54%)
BQR1   $ 1.200000   $0.150000 (12%)   $0.00 (0%)   $0.00 (0%)   $1.050000 (88%)
BTZ1   $ 1.010000   $0.690700 (68%)   $0.00 (0%)   $0.00 (0%)   $0.319300 (32%)
EGF   $ 0.525000   $0.52500 (100%)   $0.00 (0%)   $0.00 (0%)   $0.000000 (0%)
CII1   $ 1.455000   $0.264000 (18%)   $0.00 (0%)   $0.00 (0%)   $1.191000 (82%)

1 The Trusts estimate that they have 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 each Trust’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Trusts 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)

from inception to May 31, 2009

 

Current fiscal period's

annualized distribution rate

as a percentage of NAV

as of May 31, 2009

 

Cumulative total return

(in relation to NAV) for the

fiscal year through May 31, 2009

 

Cumulative fiscal year

distribution rate expressed

as a percentage of NAV

as of May 31, 2009

BDJ   (5.94)%   15.47%   (10.77)%   7.74%
BWC   2.96%   12.67%   8.33%   6.34%
BCF   (1.76)%   10.05%   23.04%   5.02%
BGY   (14.88)%   16.97%   14.17%   8.48%
BDV   (3.73)%*   7.61%   (13.70)%   3.81%
BDT   (2.43)%*   7.33%   (13.32)%   3.66%
BGR   7.26%   7.25%   13.29%   3.63%
BME   7.05%   6.61%   3.06%   4.04%
BQR   (20.10)%   14.73%   15.33%   7.37%
BTZ   (19.99)%   15.22%   9.21%   8.88%
EGF   3.63%   7.59%   6.29%   2.53%
CII   2.77%*   14.07%   8.83%   7.03%

*Five year total return (in relation to NAV) as of May 31, 2009

 

Shareholders should not draw any conclusions about a 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 one of the world’s largest publicly traded investment management firms. At March 31, 2009, BlackRock’s assets under management were $1.283 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. The firm is headquartered in New York City and has employees in 21 countries throughout the U.S., Europe and Asia Pacific. For additional information, please visit the firm'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 Trust, 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 Trust’s net asset value; (2) the performance of the Trust’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 Trust or BlackRock, as applicable; (6) BlackRock’s ability to attract and retain highly talented professionals; and (7) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Barclays PLC, Bank of America, Merrill Lynch or PNC.

The Annual and Semi-Annual Reports and other regulatory filings of the Trusts 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 Trusts. The information contained on our website is not a part of this press release.

BlackRock Closed End Funds
1-800-882-0052

(Source: Business Wire )


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