BlackRock MuniYield Fund, Inc. announces an Equity Buyback for 5% of its issued share capital.
September 05, 2019 at 12:00 am EDT
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BlackRock MuniYield Fund, Inc. (NYSE:MYD) announces a share repurchase program. Under the program, the company will repurchase up to 5% of its issued share capital. The repurchases will commence on December 1, 2019, and will expire on November 30, 2020.
BlackRock MuniYield Fund, Inc. is a closed-end management investment company. The Fund's investment objective is to provide shareholders with as high a level of current income exempt from U.S. federal income taxes as is consistent with its investment policies and prudent investment management. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal bonds exempt from U.S. federal income taxes (except that the interest may be subject to the U.S. federal alternative minimum tax). The Fund invests at least 75% of its assets in municipal bonds rated investment grade or deemed to be of comparable quality by the investment adviser, at the time of investment and invests primarily in long-term municipal bonds with a maturity of more than ten years at the time of investment. The Fund may invest directly in such securities or synthetically through the use of derivatives. Investment advisor of the Fund is BlackRock Advisors, LLC.
BLACKROCK MUNIYIELD FUND, INC. 
