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Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

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NEW YORK–(BUSINESS WIRE)–Today, BlackRock Resources & Commodities Strategy Trust (NYSE: BCX),
BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy
and Resources Trust (NYSE: BGR), BlackRock Enhanced International
Dividend Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME),
BlackRock Enhanced Global Dividend Trust (NYSE: BOE), BlackRock
Utilities, Infrastructure & Power Opportunities Trust (NYSE: BUI),
BlackRock Enhanced Capital and Income Fund, Inc. (NYSE: CII), BlackRock
Science and Technology Trust (NYSE: BST), and BlackRock Enhanced
Government Fund, Inc. (NYSE: EGF) (collectively, the “Funds”) paid the
following distributions per share:

             
Fund     Pay Date     Per Share
BCX     May 31, 2019     $0.051600
BDJ     May 31, 2019     $0.046700
BGR     May 31, 2019     $0.077600
BGY     May 31, 2019     $0.033800
BME     May 31, 2019     $0.200000
BOE     May 31, 2019     $0.063000
BUI     May 31, 2019     $0.121000
CII     May 31, 2019     $0.082800
BST     May 31, 2019     $0.150000
EGF     May 31, 2019     $0.041000
       

Each of the Funds has adopted a managed distribution plan (the “Plan”)
and employs 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
Fund’s Board of Directors/Trustees.
Under its Plan, each Fund 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. If sufficient investment
income is not available on a monthly basis, the Funds will distribute
long-term capital gains and/or return capital to their 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 May 31, 2019
Fund   Distribution  

Net Investment
Income

 

Net Realized Short-
Term Gains

 

Net Realized Long-
Term Gains

  Return of Capital
BCX1   $0.051600   $0.018174 (35%)   $0 (0%)   $0 (0%)   $0.033426 (65%)
BDJ   $0.046700   $0.027123 (58%)   $0 (0%)   $0.019577 (42%)   $0 (0%)
BGR1   $0.077600   $0.032687 (42%)   $0 (0%)   $0 (0%)   $0.044913 (58%)
BGY1   $0.033800   $0.033798 (100%)   $0 (0%)   $0 (0%)   $0.000002 (0%)
BME   $0.200000   $0 (0%)   $0.048424 (24%)   $0.151576 (76%)   $0 (0%)
BOE1   $0.063000   $0.044987 (71%)   $0 (0%)   $0 (0%)   $0.018013 (29%)
BUI   $0.121000   $0.069127 (57%)   $0 (0%)   $0.051873 (43%)   $0 (0%)
CII1   $0.082800   $0.011077 (13%)   $0 (0%)   $0.066208 (80%)   $0.005515 (7%)
BST   $0.150000   $0 (0%)   $0 (0%)   $0.150000 (100%)   $0 (0%)
EGF1   $0.041000   $0.026966 (66%)   $0 (0%)   $0 (0%)   $0.014034 (34%)
         
 
Estimated Allocations for the Fiscal Year through May 31, 2019
Fund   Distribution  

Net Investment
Income

 

Net Realized Short-
Term Gains

 

Net Realized Long-
Term Gains

  Return of Capital
BCX1   $0.258000   $0.134167 (52%)   $0 (0%)   $0 (0%)   $0.123833 (48%)
BDJ   $0.233500   $0.106047 (45%)   $0 (0%)   $0.127453 (55%)   $0 (0%)
BGR1   $0.388000   $0.161223 (42%)   $0 (0%)   $0 (0%)   $0.226777 (58%)
BGY1   $0.169000   $0.098171 (58%)   $0 (0%)   $0 (0%)   $0.070829 (42%)
BME   $1.000000   $0.048311 (5%)   $0.048424 (5%)   $0.903265 (90%)   $0 (0%)
BOE1   $0.315000   $0.172624 (55%)   $0 (0%)   $0 (0%)   $0.142376 (45%)
BUI   $0.605000   $0.243385 (40%)   $0 (0%)   $0.361615 (60%)   $0 (0%)
CII1   $0.414000   $0.094605 (23%)   $0 (0%)   $0.281437 (68%)   $0.037958 (9%)
BST   $0.750000   $0 (0%)   $0 (0%)   $0.750000 (100%)   $0 (0%)
EGF1   $0.164000   $0.126747 (77%)   $0 (0%)   $0 (0%)   $0.037253 (23%)
         

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:
Trust  

Average annual total
return (in relation to
NAV) for the
5-year
period ending on
04/30/2019

 

Annualized current
distribution rate
expressed as a
percentage
of NAV as of
04/30/2019

 

Cumulative total return
(in relation to NAV) for
the
fiscal year through
04/30/2019

 

Cumulative fiscal year
distributions as a
percentage of
NAV as of
04/30/2019

BCX   (0.16)%   6.97%   12.91%   2.32%
BDJ   8.15%   6.00%   12.83%   2.00%
BGR   (5.91)%   7.14%   16.39%   2.38%
BGY   1.45%   6.67%   11.31%   2.22%
BME   11.68%   6.65%   4.42%   2.22%
BOE   4.09%   6.48%   11.57%   2.16%
BUI   6.43%   7.15%   13.48%   2.38%
CII   9.97%   6.07%   14.67%   2.02%
BST*   19.86%   5.70%   27.34%   1.90%
EGF   1.77%   3.63%   1.54%   1.21%
       

* Portfolio launched within the past 5 years; the performance and
distribution rate information presented for this Fund reflects data from
inception to 4/30/2019.

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.

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 May 31, 2019 and
for its current fiscal year is as follows:

 
Estimated Allocations as of May 31, 2019
Fund   Distribution  

Net Investment
Income

 

Net Realized Short-
Term Gains

 

Net Realized Long-
Term Gains

  Return of Capital
BKT   $0.034400   $0.022914 (67%)   $0 (0%)   $0 (0%)   $0.011486 (33%)
         
 
Estimated Allocations for the Fiscal Year through May 31, 2019
Fund   Distribution  

Net Investment
Income

 

Net Realized Short-
Term Gains

 

Net Realized Long-
Term Gains

  Return of Capital
BKT   $0.137600   $0.104393 (76%)   $0 (0%)   $0 (0%)   $0.033207 (24%)
         

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
04/30/2019

 

Annualized current
distribution rate
expressed as a
percentage
of NAV as of 04/30/2019

 

Cumulative total return
(in relation to NAV) for
the
fiscal year through
04/30/2019

 

Cumulative fiscal year
distributions as a percentage
of
NAV as of
04/30/2019

BKT   2.87%   6.56%   2.40%   2.19%
       

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 investors and a leading provider of financial technology, our clients
turn to us for the solutions they need when planning for their most
important goals. As of March 31, 2019, the firm managed approximately
$6.52 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.

Contacts

BlackRock Closed-End Funds
1-800-882-0052

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