BlackRock Utility and Infrastructure Trust Announces Initial Distribution
NEW YORK--(BUSINESS WIRE)-- The Board of Trustees of BlackRock Utility and Infrastructure Trust (NYSE:BUI) (the Fund) announced today the Funds initial quarterly distribution, payable on February 29, 2012. Details are as follows:
|Declaration- 1/4/2012||Ex-Date- 2/13/2012||Record- 2/15/2012||Payable- 2/29/2012|
Yield on the Initial
|BlackRock Utility and Infrastructure Trust||BUI||$0.362500||7.25%|
* The yield on the IPO price shown above is calculated by dividing the initial dividend rate by the Funds IPO price of $20.00 per share and annualizing the results.
The Fund has adopted a level distribution plan (the Plan) and employs an option over-write strategy 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 the Funds Board. Under its Plan, the Fund will distribute all available investment income to 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 on a quarterly basis, the Fund will distribute long-term capital gains and or return of capital to its shareholders in order to maintain a level distribution.
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This press release, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRocks 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 Fund, 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 Fund or in the Funds net asset value; (2) the relative and absolute investment performance of the 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 recently approved Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the 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) BlackRocks ability to attract and retain highly talented professionals; (10) BlackRocks success in maintaining secondary market support for the Fund; (11) the impact of BlackRock electing to provide support to its products from time to time; (12) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (13) the ability of BlackRock to integrate the operations of Barclays Global Investors.
The Annual and Semi-Annual Reports and other regulatory filings of the Fund with the Securities and Exchange Commission (SEC) are accessible on the SEC's (SCUR) website at www.sec.gov and on BlackRocks website at www.blackrock.com, and may discuss these or other factors that affect the Fund. The information contained on BlackRocks website is not a part of this press release.
BlackRock Utility and Infrastructure Trust
Source: BlackRock Utility and Infrastructure TrustCopyright Business Wire 2012