Distribution Dates and Amounts Announced for ECAT, BCAT, BMEZ, BSTZ and BIGZ
NEW YORK--(BUSINESS WIRE)--September 12, 2024--
Today, each of BlackRock ESG Capital Allocation Term Trust $(ECAT)$, BlackRock Capital Allocation Term Trust $(BCAT)$, BlackRock Health Sciences Term Trust $(BMEZ)$, BlackRock Science and Technology Term Trust $(BSTZ)$, and BlackRock Innovation and Growth Term Trust $(BIGZ)$ (each a "Fund," and collectively the "Funds") declared its October distribution early under each Fund's managed distribution plan ("Plan"). Each Fund has adopted a Plan to support a level monthly distribution of income, capital gains and/or return of capital.
The distribution rates on the 12-month average NAV of 12% for BIGZ, BSTZ and BMEZ and 20% for ECAT and BCAT are expected to be maintained for at least the next 12 months subject to changes as a result of evaluations under each Fund's Plan and the best interest of shareholders of the Funds.
The Funds' monthly distribution rates for October can be found below:
Key Dates:
Declaration- 9/12/2024 Ex- 10/15/2024 Record- 10/15/2024 Payable- 10/31/2024
Change From Prior
Fund Ticker Distribution Distribution
BlackRock ESG Capital
Allocation Term Trust* ECAT $ 0.301580 +$0.000420
BlackRock Capital Allocation
Term Trust* BCAT $ 0.287130 +$0.000130
BlackRock Health Sciences
Term Trust* BMEZ $ 0.175990 ($0.000030)
BlackRock Science and
Technology Term Trust* BSTZ $ 0.214040 +$0.000090
BlackRock Innovation and
Growth Term Trust* BIGZ $ 0.086440 ($0.000210)
* 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 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.
BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Science and Technology Term Trust (NYSE: BSTZ), and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) have adopted a Plan to support a monthly distribution based on an annual rate of 12% (for BMEZ, BSTZ and BIGZ) and 20% (for ECAT and BCAT) of the Fund's 12-month rolling average daily net asset value calculated 5 business days prior to the declaration date of each distribution. The October 2024 distribution for each of ECAT, BCAT, BSTZ, BMEZ and BIGZ was calculated based on the average net asset value from September 5, 2023 to September 4, 2024. Below are the 12-month rolling average daily net asset values used to calculate ECAT, BCAT, BMEZ, BSTZ and BIGZ's October distributions:
ECAT: $18.094206
BCAT: $17.227659
BMEZ: $17.598849
BSTZ: $21.403135
BIGZ: $8.643413
The annual distribution rate is subject to change at the discretion of each Fund's Board of Trustees. Under its Plan, each 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. If sufficient investment income is not available for a monthly distribution, a Fund will distribute long-term capital gains and/or return of capital in order to maintain its stated fixed annual distribution rate under the Plan.
The Funds' estimated sources of the distributions paid this month and for their current fiscal year are as follows:
Estimated Allocations as of August 30, 2024
-----------------------------------------------------------------------------------------
Net
Realized
Short-Term Net Realized Return of
Fund Distribution Net Income Gains Long-Term Gains Capital
-------- -------------- --------------- ---------- ---------------- ----------------
ECAT(1) $ 0.300330 $0.019689 (7%) $0 (0%) $0 (0%) $0.280641 (93%)
-------- ---------- --------------- ---------- ---------------- ----------------
BCAT(1) $ 0.286990 $0.040006 (14%) $0 (0%) $0 (0%) $0.246984 (86%)
-------- ---------- --------------- ---------- ---------------- ----------------
BMEZ(1) $ 0.176410 $0.000000 (0%) $0 (0%) $0 (0%) $0.176410 (100%)
-------- ---------- --------------- ---------- ---------------- ----------------
BSTZ(1) $ 0.214050 $0.000000 (0%) $0 (0%) $0.214050 (100%) $0 (0%)
-------- ---------- --------------- ---------- ---------------- ----------------
BIGZ(1) $ 0.087630 $0.000000 (0%) $0 (0%) $0 (0%) $0.087630 (100%)
-------- ---------- --------------- ---------- ---------------- ----------------
Estimated Allocations for the Fiscal Year through August 30, 2024
----------------------------------------------------------------------------------------
Net
Realized Net Realized
Short-Term Long-Term Return of
Fund Distribution Net Income Gains Gains Capital
-------- -------------- --------------- ---------- --------------- ----------------
ECAT(1) $ 1.646280 $0.093341 (6%) $0 (0%) $0 (0%) $1.552939 (94%)
-------- ---------- --------------- ---------- --------------- ----------------
BCAT(1) $ 1.496380 $0.142226 (10%) $0 (0%) $0 (0%) $1.354154 (90%)
-------- ---------- --------------- ---------- --------------- ----------------
BMEZ(1) $ 0.984050 $0.080298 (8%) $0 (0%) $0 (0%) $0.903752 (92%)
-------- ---------- --------------- ---------- --------------- ----------------
BSTZ(1) $ 1.157530 $0.000000 (0%) $0 (0%) $0.256785 (22%) $0.900745 (78%)
-------- ---------- --------------- ---------- --------------- ----------------
BIGZ(1) $ 0.487720 $0.000000 (0%) $0 (0%) $0 (0%) $0.487720 (100%)
-------- ---------- --------------- ---------- --------------- ----------------
(1) The 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:
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Annualized
Average annual current Cumulative total Cumulative
total return (in distribution return (in fiscal year
relation to NAV) rate expressed relation to NAV) distributions as
for the 5-year as a percentage for the fiscal a percentage of
period ending on of NAV as of year through NAV as of
Fund 8/31/2024 8/31/2024 8/31/2024 8/31/2024
------ ---------------- ---------------- ---------------- ----------------
ECAT* 7.27% 19.34% 13.44% 10.46%
------ ---------------- ---------------- ---------------- ----------------
BCAT* 5.17% 19.80% 10.46% 10.26%
------ ---------------- ---------------- ---------------- ----------------
BMEZ* 5.95% 11.68% 7.65% 6.40%
------ ---------------- ---------------- ---------------- ----------------
BSTZ 10.26% 12.06% 5.79% 6.44%
------ ---------------- ---------------- ---------------- ----------------
BIGZ* (14.99)% 12.56% (1.10)% 6.85%
------ ---------------- ---------------- ---------------- ----------------
* Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 8/31/2024.
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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