BlackRock Closed-End Funds Announce Estimated Sources of Distributions

BlackRock closed-end funds announce estimated sources of distributions. The funds' distributions are derived from a combination of income and capital gains. The primary sources of income include dividends from common stocks and interest from debt securities. The funds' capital gains distributions are generated from the sale of securities at a profit.

BlackRock has announced the estimated sources of distributions for several of its closed-end funds, effective as of September 30, 2025. The funds, including BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), and others, have adopted managed distribution plans to support a level monthly distribution of income, capital gains, and/or return of capital Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions^[1].

Each fund's estimated sources of distributions for the current fiscal year include a combination of income and capital gains. The primary sources of income include dividends from common stocks and interest from debt securities. Capital gains distributions are generated from the sale of securities at a profit. Notably, some funds, such as BlackRock Capital Allocation Term Trust (NYSE: BCAT) and BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), have a monthly distribution rate based on an annual rate of 20% of the Fund’s 12-month rolling average daily net asset value Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions^[1].

The distributions paid by the funds are subject to change at the discretion of each fund's Board of Directors/Trustees. If sufficient income is not available on a monthly basis, the funds will distribute long-term capital gains and/or return capital to maintain a level distribution. Each fund's estimated sources of distributions for September 30, 2025, and the current fiscal year are provided for regulatory purposes and are subject to change based on tax regulations Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions^[1].

Investors are advised to review the Form 1099-DIV they will receive for the calendar year to determine how to report these distributions for federal income tax purposes. It is essential to note that the amounts and sources of distributions reported are estimates and may differ from actual amounts and sources based on each fund's investment experience during the remainder of the fiscal year Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions^[1].

BlackRock will continue to update performance and other data for the funds on its website in the "Closed-end Funds" section. Investors are encouraged to check the website for updated information and the release of other material information about the funds Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions^[1].