Today, the Board of Directors/Trustees of BlackRock MuniYield
Pennsylvania Quality Fund (NYSE: MPA) and BlackRock California
Municipal Income Trust (NYSE: BFZ), (each a “Fund,” and
collectively the “Funds”) announced distributions, which reflect
distribution increases for the Funds.
“We have taken this step to support shareholders of these Funds,
consistent with our goal of delivering long-term value. We are
focused on enhancing returns for our closed-end fund shareholders
and helping them plan for their financial futures,” said R. Glenn
Hubbard, Chair of the Board of BlackRock Closed-End Funds.
Each Fund’s monthly distribution rate for June 2024 can be found
below:
Municipal Funds:
June 2024 Distribution:
Declaration: 5/20/2024 Ex-Date: 6/14/2024 Record: 6/14/2024
Payable: 7/1/2024
State-Specific
Funds
Ticker
Distribution
Change
From
Prior
Distribution
BlackRock MuniYield Pennsylvania Quality
Fund*
MPA
$0.066000
+38%
BlackRock California Municipal Income
Trust
BFZ
$0.059000
+16%
*In order to comply with the requirements of Section 19 of the
Investment Company Act of 1940, as amended (the “1940 Act”), the
Fund 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
applicable, the final determination of the source and tax
characteristics of all distributions in 2024 will be made after the
end of the year.
Each Fund’s ability to maintain its declared distribution amount
will depend on a number of factors, such as the amount and
stability of investment income earned by the Fund, its asset mix,
portfolio turnover, performance of its investments, level of
retained earnings, the amount of leverage utilized by the Fund and
the effects thereof, the costs of such leverage, the movement of
interest rates for municipal bonds and general market
conditions.
Shareholders should not draw any conclusions about a Fund’s
investment performance from the amount of the Fund’s current
distribution or from the terms of the Fund’s dividend policy. A
portion of the 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 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.
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 visit www.blackrock.com/corporate
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, and regulatory, supervisory or
enforcement actions of government agencies relating to a Fund or
BlackRock, as applicable; (8) terrorist activities, international
hostilities, health epidemics and/or pandemics 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240520562746/en/
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