BLACKROCK TAXABLE MUNICIPAL BOND TRUST Contact:
1-800-882-0052
Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds
New York, December 5, 2022 - Certain BlackRock closed-end funds (the "Funds") announced distributions today as detailed below.
BlackRock Taxable Municipal Bond Trust (NYSE: BBN)announced a decrease to its monthly distribution. This change was made in order to better align BBN's distribution rate with its current and projected earnings.
Taxable Municipal Fund:
Declaration- 12/5/2022 Ex-Date- 12/14/2022 | Record- 12/15/2022 | Payable- 12/22/2022 | |||
Change | |||||
Fund | Ticker | Distribution From Prior | |||
Distribution | |||||
BlackRock Taxable Municipal Bond Trust* | BBN | $0.102900 | (0.020000) | ||
Taxable Fixed Income Funds: | |||||
Declaration- 12/5/2022 Ex-Date- 12/14/2022 | Record- 12/15/2022 | Payable- 12/22/2022 | |||
Change | |||||
Fund | Ticker Distribution | From Prior | |||
Distribution | |||||
BlackRock Floating Rate Income Trust | BGT | $0.078100 | - | ||
BlackRock Core Bond Trust* | BHK | $0.074600 | - | ||
BlackRockMulti-SectorIncome Trust* | BIT | $0.123700 | - | ||
BlackRock Income Trust, Inc.* | BKT | $0.088200 | - | ||
BlackRock Limited Duration Income Trust* | BLW | $0.098100 | - | ||
BlackRock Credit Allocation Income Trust* | BTZ | $0.083900 | - | ||
BlackRock Debt Strategies Fund, Inc. | DSU | $0.070500 | - | ||
BlackRock Enhanced Government Fund, Inc.* | EGF | $0.041000 | - | ||
BlackRock Floating Rate Income Strategies Fund, Inc. | FRA | $0.080400 | - | ||
BlackRock Corporate High Yield Fund, Inc.* | HYT | $0.077900 | - |
- 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
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applicable, the final determination of the source and tax characteristics of all distributions in 2022 will be made after the end of the year.
BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) , BlackRock Debt Strategies Fund,
Inc. (NYSE: DSU), BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA),
BlackRock Floating Rate Income Trust (NYSE: BGT), BlackRock Corporate High Yield Fund,
Inc. (NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ), BlackRock Limited
Duration Income Trust (NYSE: BLW), BlackRock Core Bond Trust (NYSE: BHK), and
BlackRock Multi-Sector Income Trust (NYSE: BIT) (collectively, the "Plan Funds") have adopted a managed distribution plan (a "Plan") 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 Plan Fund's Board of Directors/Trustees. Under its Plan, each Plan Fund will distribute all available investment income to its shareholders, consistent with its 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 monthly basis, each Plan Fund will distribute long-term capital gains and/or return capital to its 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 November 30, 2022
Fund | Distribution | Net Income | Net Realized Short- | Net Realized Long- | Return of Capital |
Term Gains | Term Gains | ||||
EGF1 | $0.041000 | $0.027331 (67%) | $0 (0%) | $0 (0%) | $0.013669 (33%) |
DSU1 | $0.070500 | $0.070500 (100%) | $0 (0%) | $0 (0%) | $0 (0%) |
FRA | $0.080400 | $0.080400 (100%) | $0 (0%) | $0 (0%) | $0 (0%) |
BGT | $0.078100 | $0.078100 (100%) | $0 (0%) | $0 (0%) | $0 (0%) |
HYT1 | $0.077900 | $0.066145 (85%) | $0 (0%) | $0 (0%) | $0.011755 (15%) |
BTZ1 | $0.083900 | $0.065484 (78%) | $0 (0%) | $0 (0%) | $0.018416 (22%) |
BLW1 | $0.098100 | $0.089191 (91%) | $0 (0%) | $0 (0%) | $0.008909 (9%) |
BHK1 | $0.074600 | $0.054035 (72%) | $0 (0%) | $0 (0%) | $0.020565 (28%) |
BIT1 | $0.123700 | $0.083972 (68%) | $0 (0%) | $0 (0%) | $0.039728 (32%) |
Estimated Allocations for the Fiscal Year through November 30, 2022
Fund | Distribution | Net Income | Net Realized Short- | Net Realized Long- | Return of Capital |
Term Gains | Term Gains | ||||
EGF1 | $0.410000 | $0.269319 (66%) | $0 (0%) | $0 (0%) | $0.140681 (34%) |
DSU1 | $0.625000 | $0.611192 (98%) | $0 (0%) | $0 (0%) | $0.013808 (2%) |
FRA | $0.694400 | $0.694400 (100%) | $0 (0%) | $0 (0%) | $0 (0%) |
BGT | $0.673800 | $0.673800 (100%) | $0 (0%) | $0 (0%) | $0 (0%) |
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HYT1 | $0.779000 | $0.528960 (68%) | $0 (0%) | $0 (0%) | $0.250040 (32%) |
BTZ1 | $0.839000 | $0.714690 (85%) | $0 (0%) | $0 (0%) | $0.124310 (15%) |
BLW1 | $0.981000 | $0.865624 (88%) | $0 (0%) | $0 (0%) | $0.115376 (12%) |
BHK1 | $0.746000 | $0.606481 (81%) | $0 (0%) | $0 (0%) | $0.139519 (19%) |
BIT1 | $0.123700 | $0.083972 (68%) | $0 (0%) | $0 (0%) | $0.039728 (32%) |
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 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 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:
Average annual total | Annualized current | Cumulative total | Cumulative fiscal year | |
return (in relation to | distribution rate | return (in relation to | ||
distributions as a | ||||
Fund | NAV) for the 5-year | expressed as a | NAV) for the fiscal | |
percentage of NAV as | ||||
period ending on | percentage of NAV as | year through | ||
of 10/31/2022 | ||||
10/31/2022 | of 10/31/2022 | 10/31/2022 | ||
EGF | (2.51)% | 4.85% | (17.56)% | 3.64% |
DSU | 3.30% | 8.17% | (5.13)% | 5.35% |
FRA | 3.29% | 7.61% | (3.62)% | 4.84% |
BGT | 3.30% | 7.61% | (3.62)% | 4.84% |
HYT | 2.73% | 10.08% | (16.99)% | 7.56% |
BTZ | 0.72% | 9.29% | (23.30)% | 6.97% |
BLW | 2.29% | 8.82% | (13.38)% | 6.61% |
BHK | (0.72)% | 8.48% | (27.73)% | 6.36% |
BIT | 2.66% | 10.13% | (10.47)% | 10.13% |
- Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 10/31/2022.
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.
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BKT and BBN have adopted a Plan whereby the Fund will make fixed monthly distributions to common stockholders and will distribute all available net 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 and BBN's Board. If sufficient net income is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain a level distribution. BKT and BBN are currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the "1940 Act"). Each Fund expects that distributions under the Plan will exceed current income and capital gains and therefore will likely include a return of capital. BKT and BBN 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 and BBN's estimated sources of the distributions paid as of November 30, 2022 and for its current fiscal year are as follows:
Estimated Allocations as of November 30, 2022
Net Realized | Net Realized | ||||
Fund | Distribution | Net Income | Short-Term | Return of Capital | |
Long-Term Gains | |||||
Gains | |||||
BKT2 | $0.088200 | $0.045990 (52%) | $0 (0%) | $0 (0%) | $0.042210 (48%) |
BBN2 | $0.122900 | $0.087365 (71%) | $0 (0%) | $0 (0%) | $0.035535 (29%) |
Estimated Allocations for the Fiscal Year through November 30, 2022
Net Realized | Net Realized | ||||
Fund | Distribution | Net Income | Short-Term | Return of Capital | |
Long-Term Gains | |||||
Gains | |||||
BKT2,3 | $0.942000 | $0.555093 (59%) | $0 (0%) | $0 (0%) | $0.386907 (41%) |
BBN2 | $1.229000 | $1.032717 (84%) | $0 (0%) | $0 (0%) | $0.196283 (16%) |
2The 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.
3Year to date figures have been adjusted to reflect a 1-for-3 reverse stock split of the Fund's common stock.
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 and BBN's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. BKT and BBN
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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:
Average annual total | Annualized current | Cumulative total return | Cumulative fiscal year | |
return (in relation to | distribution rate | |||
(in relation to NAV) for | distributions as a | |||
Fund | NAV) for the 5-year | expressed as a | ||
the fiscal year through | percentage of NAV as | |||
period ending on | percentage of NAV as | |||
10/31/2022 | 10/31/2022 | |||
10/31/2022 | of 10/31/2022 | |||
BKT | (1.91)% | 8.22% | (19.27)% | 6.63% |
BBN | (0.90)% | 8.93% | (30.83)% | 6.70% |
No conclusions should be drawn about BKT or BBN'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's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please
visitwww.blackrock.com/corporate| Twitter:@blackrock|
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.comas 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.
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Blackrock Taxable Municipal Bond Trust published this content on 22 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2022 07:31:10 UTC.
